CONTINUITY
While volunteer members and absentee owners mean well by their involvement in Association management affairs, these same owners may sell their unit and move, or become tired having served several years on the board.  When this happens there is a void that is not conducive to the cohesive continuity needed to make a successful Association.  The Professional Association Manager provides that common thread of continuity from year to year, regardless of the turnover and community mix.

LIABILITY
The lack of Professional Association Management can increase the liability exposure of the Board of Directors.  A Professional Association Management company will share in this risk with the Association.  With some courts having found that Board members may be held personally liable for poor business decisions, the input and expertise of a Professional Manager is even more necessary.

THIRD PARTY INVOLVEMENT
Enforcing rules and regulations, assessing fines for delinquent payments or placing a unit under lien can be most unpleasant for one homeowner to do to a fellow owner.  The involvement of a third party, such as a Professional Association Manager, can relieve the unpleasant confrontations of neighbor vs. neighbor.  As the Association Manager, Property Management Plus uses tact, diplomacy and courtesy when enforcing the restriction necessary to make community living both pleasant and enjoyable.

BONDING
Association document may require that the association bond any party handling Association funds.  Property Management Plus is bonded and will gladly assists the association in securing a fidelity bond for the protection of the association.

EXPERTISE
A Professional Association Management firm is just that, PROFESSIONAL. Property Management Plus performs our services for a fee based on the level of service desired.  The difference with Property Management Plus is that you receive VALUE.  Our goal is to provide the Homeowners Association with the best available combination of professional management, COMPETITIVE fees and a COMMITMENT to excellence.  We want you to enjoy your investment to the fullest.

MANAGING AGENT JOB DESCRIPTION

FINANCIAL & ACCOUNTING SERVICES
     Accounting Payable

• Coordination of the remittance and disbursement of funds in payment of invoices
• Verification of invoice accuracy
• Chart of account coding
• Systematic filing of invoice for annual audit per Auditor’s instructions
• Drafting of check and mailing payment

    
     Accounts Receivable

• Collection and depositing of funds received by the Association in the form of regular assessments
• Print coupons for regular & special assessment collection
• Post to account on daily basis

 
     Statement Preparation

• Balance sheet
• Revenue and Expense statement
• Statement format and software modifications
• Bank reconciliation
• Journal entries for accounting system, i.e. prepaid expenses, assessment receivable, advance assessment collected, accounts payable, posting of all disbursements and receipts in ledgers and journals
• Worksheet for data entry and computer entry
• Print & mail statements to Board of Directors

     Assessment Collection

• Generate correspondence to insure timely payment of assessments
• Monthly-computerized delinquency statement
• Verification and reconciliation of individual account balances
• Initial delinquency letters to owners with outstanding balances
• 30, 60, and 90 day collection letters to delinquent owners
• Monitor fine system and collections
• Follow up correspondence with delinquent owners
• Coordination with attorney for filing of liens and foreclosures
• Depositing and posting of collected receivables
• Calculation of late charges and collections

     Implementation of Audit Trail

• Establishment and maintenance of invoice filing system
• Confirmation of receivable accounts
• Two-party internal control system for protection
• Chart of accounts coordination per the auditor’s instructions
• Pre-audit conferences with auditing firm

     Tax Return Preparation & Filing

• Filing of estimated corporate income tax expense payable
• Filing of state corporate franchise and Department of Revenue tax forms for non-profit organizations

     Payroll

• Quarterly filing of personnel payroll taxes associated with the full time and part time employees
• Standard payroll deductions
• Administer employee insurance program
• Insurance payments
• Issue payroll checks

     Surplus Funds Investment

• Establish and monitor insured investment accounts
• Investment and movement of surplus funds to maximize interest income of the Association

     Financial Correspondence

• Tax correspondence
• Financial information for lenders, re-sales, etc.
• Market condition and coordination with Realtor

     Annual Financial Audit

• Coordinate all specific requests of auditor
• Assist in confirmation of receivable accounts
• Assemble all record and files for audit team
• Participate and confer with auditor on all adjusting entries for capitalization schedule
• Year-end adjusted closing entries at instruction of auditor
• Generate a 2nd year-end financial statement with all adjustments
• Bring forward all opening balances for next year following audit
• Make any necessary revisions to chart of accounts at auditors instructions

     Budget Preparation

• Maintain record history of all utility consumption for calculations
• Evaluation of current and prior year’s expenditures for comparison and projections
• Rate verification with suppliers and vendors
• Assembling the proposal, i.e. typing, proofing, printing, etc.
• Amendments to the budget per Board’s instruction
• Publish annual report as to new assessment rates & budget changes

ADMINISTRATIVE SERVICES
Meeting Coordination

• Coordinate and attend all Board meetings
• Prepare meeting agendas and notices
• Prepare and distribute meeting minutes
• Coordinate and attend Annual meeting
• Prepare meeting agendas and notices
• Prepare and distributed meeting minutes
• Prepare and mail newsletters

     Sale & Resale Activities

• Coordinate each closing with the respective attorney
• Provide pro-rata costs and information to closing attorneys
• File all necessary papers for FNMA or other lending institutions as requested
• Prepare new owner “Introduction Packages”

     General Administrative Functions

• Assist in the development and enforcement of Rules & Regulations
• Handle all owners’ correspondence
• Resolve owner disputes
• Maintain all records of the Association
• Handle all miscellaneous clerical duties

     Insurance Negotiations

• Assist in determination of replacement values
• Initiate property appraisal per Board instruction
• Draft specifications for competitive bids
• Bid solicitation
• Review and negotiate bids with agents
• Coordination of “apples” bids
• Submit bids to Board President and/or committee as directed for review and decision
• Coordinate all claims with company and adjuster
• Inform owners of applicable claim status

PHYSICAL PROPERTY SUPERVISION SERVICES

• Supervise maintenance and landscape personnel
• Provide budget awareness and continual job scheduling for maintenance staff
• Negotiate vendor purchases and service contracts from a bulk position with all savings passed directly to Association
• Assist Property Committees(s) with design and implementation of physical improvements
• Preventive maintenance planning scheduling
• Capital improvement and major project coordination