Our Services Include:
Color coded maintenance coupons for Monthly, Quarterly and Special Assessments
Maintenance payment coupons and envelopes will be provided to each owner in order for them to send their maintenance payments to the banks' lockbox for deposit of these funds on a regular basis.
We will coordinate all activity with the lockbox including stop files for legal accounts and name changes. We will also provide an electronic funds transfer (ACH) for those owners desiring that type of payment.
We will maintain separate Unit Owner Ledgers that detail all relevant info concerning their charges and payments. Monthly maintenance payments and Special Assessment payments will be kept separately.
Delinquency Reports and letters
On a twice-monthly basis, after the mid-month and last day of the month cutoffs, we will print reports, which will reflect the names and balances of those owners who are delinquent in the payment of their maintenance. We will then mail first request delinquency letters and follow-up with second request letters at the end of the month.
In accordance with the Board of director's instructions, will coordinate with your condominium Attorney and prepare all necessary Unit Owner History Reports to facilitate collections.
The association's attorney also has the opportunity to view the unit owner delinquent history as he will be pass-worded directly into our computer system.
Invoices and Payables
Upon receipt of the Association's invoices, in our office, we will prepare all checks to vendors from the invoices and attached vouchers, which are approved by the Board of Directors or the manager, as your policy so dictates. We will mail the checks and invoices to be signed by the Board. All checks will be computer generated.
Monthly Reports
Each month you will receive financial reports that consist of prepared budget to actual financial statement (for management purposes only) for the Association. In addition, we will provide a detailed general ledger and cash receipts and disbursement journals, as well as check registers. These financial statements are custom designed, on a line-by-line cash basis, to coincide with the categories of your budget. If more detail is required, it can be customized to your needs. We will also reconcile all bank accounts, on a monthly basis.
Annual Budgeting
We will consult, with the Board of Directors with regard to the preparation of the Association's annual operating budget. This will include worksheets detailing the actual expenses and projection of expenses through the end of each year as related to the budgeted figures and will attend the budget meeting and any other meetings that are required regarding financial issues, at no additional cost.