Running your association is no small task. In fact, some liken it to running your local government: Your elected Board of Directors act as “city council” as they administrate the multitude of functions and responsibilities of the association. Florida Condo & Association Management, Inc. is there, every step of the way, to help the “council” efficiently and successfully manage your association infrastructure.
Our objectives are to:
- Implement and maintain a well-balanced budget
- Provide informed advice, research, and guidance
- Communicate often with board of directors
- Search for and implement cost-saving procedures
- Compile and provide extensive financial reports
- Reduce delinquency percentages and create an association atmosphere that promotes timely payment
- Help homeowners maintain and increase their property values
- Inform members of all important information
- Implement Board decisions
- Practice excellent listening skills with ALL Association Members
What does Florida Condo and Association Management do to get the job done? The services we provide as part of your management contract include:
Consistent Communication and Service
- Personal, consistent contact with homeowners' regarding concerns via telephone, cell phone, email, fax, correspondence and or in person
- Covenant communications regarding maintenance infractions/Generate warning letters for violations of governing documents
- Communication Newsletters via email, mail (by request), and public posting
- Association Management 24/7…we are always on call!
- Process maintenance requests and track them with our state-of-the-art software systems that ensures no one “falls between the cracks”
- Help with expert advice and guidance where needed
- Respond to association letters received
- Generate fine letters
- Prepare annual meeting notices and other notices as requested by the Board
- Keep an up to date home owner member directory
- Regular site inspections; written communications with Board of Directors
Efficient Coordination
- Serve as your advocate when arranging for services
- Preferred vendor relationships to ensure best level of services and costs
- Obtain competitive bids for services at the Board’s request
- Provide oversight to ensure the job is done correctly the first time
Record Management
- Retain the Corporate Minutes, Declarations, By-laws, Covenants and all other important records in hardcopy or digital format
- Keep covenant logs and letters
- Receive Architectural Covenant Control change requests and pass on to appropriate committee members
- Accumulate approvals and send approval letters to owners
- Work Order history
Meeting Administration
- Prepare Board packets for meetings, consisting of the following:
- Agenda
- Minutes of previous meeting
- Balance sheet
- Budget year to date, in easy to read format
- Copies of bank statements
- Receipts and Disbursement reports
- Delinquent member report
- Correspondence to and from members
- Reports from vendors
- Committee reports
- Call log and Florida Condo and Association Management’s activity report
- Copies of bids and proposals
- Articles of interest
- Any other pertinent information that requires board action
- Conduct and facilitate meetings
- Documented "To-Do" lists
- Annual Homeowners Meetings
- Informational and special meetings
Legal Management
- Communicate carefully with legal counsel to avoid or resolve legal issues
Insurance Company Liaison
- Suggest necessary coverage
- Obtain competitive bids for complete association coverage with several recognized national companies
- Work with Association's insurance carrier in case of a claim and follow up until settlement
Comprehensive Financial Management
- Receive monthly homeowners dues via multiple payment methods, post to accounts
- Delinquency follow-up
- Notify and work with attorney to commence collection efforts if all other efforts fail
- Receive vendor invoices, verify and generate check run for payment, monthly or as needed. File in association's vendor files
- Maintain thorough accounting records for all accounting activity
- Prepare and deposit payments into Association account in a timely manner
- Reconcile bank statements each month
- Recommend best interest rates for restricted reserves to the Board of Directors
- Monitor due dates of C.D.'s
- Assist in structuring a comprehensive, tailored budget
- Recommendation of the annual budget
- Assist in preparing a reserve study
- Complete balance sheets generated monthly for operating and reserve accounts, including budget variances, income statement, check register, homeowner dues aging report and copies of all bank statements
- Collect W-9 information from vendors for 1099 distribution
- Retain proper financial records for IRS and the State of Florida.
- Prepare for formal financial compilations and tax returns by the accountant of the Association's choice
- Work with your chosen auditor during periodic audits
Title Transfer Processing
- Provide information requested by Lenders/Realtors (i.e. project review forms, FNMA, FHLMC for prospective buyer's loan approvals)
- Generate status certificates on units scheduled to close for title companies
Developer Transition
- Florida Condo and Association Management works side-by-side with developers to facilitate a smooth association development process.
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- We equip developers with expert advice and opinion in establishing amenities and budgeting to create an attractive and efficient community. We will facilitate the interim period as new owners are educated regarding the governing docs and their role as community members.
- Florida CAM will coordinate a plan to ensure an efficient transition from developer to homeowner and help the new association hit the ground running in a fully functional manner.
Other Services
- Storm Preparedness and Recovery Plan
- Design and maintain personalized Web site for each association
In short, Florida Condo and Association Management provides excellent services in all the areas needed to successfully manage your association!
