HOMEOWNER ASSOCIATION (HOA) SERVICES
All accounting is performed using a software program customized and specifically designed for Homeowner Associations.
- Collection of all monthly and other assessments that are due to the Homeowners Association.
- Property Manager will send out monthly notices to all delinquent homeowners and when the Board of Directors deems it appropriate, pursue legal collection.
- Payment of all expenses of the Homeowners Association, including utilities, maintenance contracts, and all other charges or obligations incurred by the Homeowners Association pursuant to the terms authorized by the Board of Directors.
- Preparation of a monthly financial report to be provided to the Board of Directors each month. The financial report shall include a balance sheet, an operating statement and reserve statement which show year to date figures and comparisons to monthly and yearly budget, delinquency report, prepaid dues report, check register, bank reconciliation and copies of all bank statements.
- Property Manager shall prepare and submit to the Board of Directors a recommended Annual Budget for the next fiscal year showing anticipated income and expenses for the Board of Directors' approval.
- Property Manager will assist in analysis and review of the reserve study.
- Federal and State tax forms, as well as the yearend review will be prepared by a Certified Public Accountant chosen by the Homeowners Association with assistance of the Property Manager.
- Subject to the direction of the Board of Directors, and in accordance with the Homeowners Association's approved budget, Property Manager shall cause the common elements of the Homeowners Association to be maintained according to appropriate standards of maintenance.
- Contracts shall be obtained at the direction of the Board of Directors and on behalf of the Homeowners Association. Property Manager shall assist in negotiating all contracts. For any expenses or projects over $1,500.00 Property Manager shall obtain three (3) bids, except in the case of an emergency involving a danger to life or property.
- Property Manager shall supervise contractors providing services for the Homeowners Association, such as landscape, pool service, etc. If the Board of Directors requests, new proposals for services will be obtained with specifications prepared by Property Manager and approved by the Board of Directors.
- Property Manager will maintain business-like relations with all homeowners whose requests shall be received, considered, recorded and handled in a systematic fashion. All of the requests and complaints received shall be provided to the Board of Directors in their packet prior to the next scheduled meeting.
- Property Manager will promptly investigate all accidents, damage or destruction to the Homeowners Association and report to the Board of Directors as to all material claims for damages relating to the ownership, operation and maintenance of the Homeowners Association. If required, and upon Board of Directors' approval, Property Manager will file any claims with the Homeowners Association's insurance company.
- Emergency Contact: Property Manager maintains a 24-7 access number.
- Property shall maintain all appropriate records of all insurance coverage for the Homeowners Association.
- Property Manager shall prepare and mail all correspondence including letters of welcome to new homeowners, responses to received correspondence, notices required by the Board of Directors, CC&R violation letters, as well as all mailings required by law, etc.
- Property Manager to prepare a newsletter to all members of the Homeowners Association. The content to be provided by Property Manager and approved by the Board of Directors.
- Compilation of a current and complete Owner Roster with the name, available phone number and mailing address of each member of the Homeowners Association.
- Attendance at Board of Director Meetings.
- Preparation and delivery of notices in accordance with the By-laws.
- Preparation of agenda with Board of Directors input prior to each meeting.
- Take an active or neutral role in conducting the Board of Directors Meetings depending on the desire of the Board of Directors/Association.
- Minutes to be taken and circulated in accordance with the Homeowners Association's policy.
Maintain financial records, as well as other archives of the Homeowners Association. Current business records for use in the operation of the Homeowners Association shall be stored in Property Manager's office.