Real Estate Property Management:
Home Owner Associations
& Condominium Associations
Property managers support all facets
of homeowner associations
RE/MAX Executive Property Management provides support for all facets of the Association-Unit Owner relationship. A dedicated, on-call Property Manager is assigned at the outset to oversee property management services. Bi-weekly hours are scheduled for the Property Manager to be on-location to address questions or concerns.
For Board Meetings, the Property Manager prepares agendas, participates bi-monthly to lead discussion as well as present the Property Managerâ€™s Report and other financial updates.
The Property Manager acts as an intermediary between the Board/Association and insurance agents, adjusters, and attorneys.
Property Management Services
The Role of the Property Manager
The Property Manager helps enforce the policies, rules, and regulations of the Association, identifying issues that require Board attention and working with the Board to resolve them. The Property Manager responds to all owner or resident questions, typically within 2 business hours. The manager also maintains a unit owner roster, and if applicable, a lessee roster, as well as records of correspondence. When needed, the Property Manager will initiate correspondence to owners/ residents and offer vendor referrals to owners.
The Property Manager also works with the Board/Association to define goals, to recommend plans and strategies to meet them, to organize and lead projects to implement them, and to monitor results.
Maintenance & Repair
The Property Manager also facilitates maintenance and repair, providing 24 hour emergency telephone coverage as well as managing day-to-day needs. The manager oversees staff and vendors, creates and implements a building maintenance and landscaping plan, inspects grounds and common areas bi-weekly, and issues an inspection report. A RE/MAX Executive Property Manager is committed to excellence and enhancing real estate value.
For all services that require open and competitive bidding (insurance, landscaping, snow plowing/ sanding, maintenance and capital improvements), the Property Manager directs the bidding process to assure fair and equitable process. This includes determining the scope of work, initiating timely Requests For Proposals, contacting vendors to determine their capabilities and understanding of the project, evaluating proposals, presenting them, making recommendations to the Board, and notifying vendors of award or rejection.
The Property Manager also assumes responsibility for all aspects of vendor relations. This includes developing contracts, containing costs, ensuring quality workmanship, and delivering timely completion. The Property Manager works with vendors to coordinate and oversee their performance, to resolve conflicts and enforce corrective measures.
RE/MAX Executive Property Management collects and deposits association/condominium fees, issues monthly statements to delinquent owners, and pursues legal options with owners who are not meeting payment standards. All fees are deposited to an exclusive bank account.
Annual Budget & Reserves
The Property Management team collaborates with the Board on an annual budget, manages this budget, and presents monthly reports. Invoices are paid through a pre-arranged approval process. Reserves are maintained and monitored for long term capital improvements. An Association-paid study is available upon Board request to analyze individual items and project expected lifetime.
Complete Financial Record Keeping and Reports
Records maintained by RE/MAX Executive Property Management include all receipts and disbursements, individual unit accounting, Fulfillment of Chapter 400 (Super Lien Law) legal requirements to satisfy foreclosure protection, preparation of 6d certificates and FNMA questionnaires, and a file of correspondence.
Financial reports include collection status, income statements (actual vs budget), balance sheets, accounts payable, unit holder account balances, reserve reports, and bank reconciliation.
RE/MAX Executive Property Management will present a proposal for Board Review, and if approved, a Property Management Agreement will be drafted.
RE/MAX Executive Realty is a leader in the field of property management and is committed to successful, long term relationships.