Condominium Association Management

At a minimum, the following should be included:

Develop declaration of covenants, bylaws, rules and regulations, operational procedures and provide ongoing advice to Board members relating to
Prepare, distribute and maintain all association documents and records, including monthly financial and association management reports
Attend monthly Board meetings (frequency as determined by the Board)
Prepare, provide and maintain monthly association meeting minutes
Provide management report newsletter or maintain association website and provide notices, newsletters and other communication to association members on behalf of the Board
Attend annual Board/membership meetings, presenting annual financial and overall association management reports
Manage Board of Director elections and provide guidance and training to new Board members annually
Manage appropriate insurance coverage for the association, maintain insurance records, and, with the Board, investigate and report as appropriate all claims relating to the ownership, operation and maintenance of common areas
Provide to new association members a welcome packet that includes up-to-date association information, by-laws, rules and regulations, list of vendors, etc.
Provide association documents to unit owners who are selling or refinancing

Fiscal Management of Condominium Association

At a minimum, the following should be included:

Assist with long range fiscal plan development and ongoing monitoring of the plan
Assist with annual operating budget and reserve plan development and ongoing monitoring of the budget and reserve plan
Prepare and distribute monthly and annual financial statements
Maintain replacement and contingency reserve accounts according to the Board of Director approved reserve plan.
Maintain bookkeeping and banking services, including accounts receivable and accounts payable, monthly homeowner statements and payments to vendors.
Provide direct deposit availability for unit owners, with online payment available soon
Provide delinquency notification, monitoring and collections, and maintain collection records. Assist attorneys with lien or court actions. Represent the association in small claims court to collect assessments or obtain judgments against accounts as allowed and defined the association by-laws. (Attorney fees for appeals and district court are additional.)
Supervise competitive bidding and contract processes and advise the Board regarding vendor selection. Locate affordable vendors to keep your costs down and continually review all service contracts for competitive pricing and level of service.
Establish and manage contracts for annual association audits and provide annual federal and state tax information to the tax accountant

Physical Management of Condominium Association Property

At a minimum, the following should be included:

Conduct scheduled building/grounds/common area walk-through inspections
Coordinate scheduled and emergency repair and maintenance services for common areas
Manage the association property and common areas and oversee the maintenance and repair work of contracted service providers
As appropriate, hire, pay, supervise, discharge and negotiate collective bargaining agreements with engineers, janitors and other personnel as required by the Board to maintain the property
Provide 24 hour on-call maintenance service for unit residents, with interactive online and call forwarding two touch services
Administration and implementation of association rules and regulations