Board Meetings
HOA Management Solutions will have a representative present at Board of Directors' meetings for a two hour period or as agreed upon. Prepare and distribute Board packages to all Board members including the agenda, minutes, financials, bids to review, old and new business and correspondence. An HOA Management Solutions representative will record and transcribe the meeting minutes at no additional cost, and we will interact and coordinate with the Association's Architectural and Landscape committees as required.
Annual Meeting
A representative from HOA Management Solutions will attend the annual Association meeting. HOA Management Solutions will also assist the Board in voting procedures and in maintaining record changes for new homeowners.
Maintenance Requests and Bids For Services
HOA Management Solutions representatives will conduct on site inspections as agreed upon. We will develop a punch-list with action items that must be completed within 30 days. This valuable tracking document will be included each month with your board package. We expect to be held accountable for the follow up necessary to complete the Board's directions to outside vendors in a timely manner.
An HOA Management Solutions representative will obtain project bids as required by the board for maintenance and repairs. An HOA Management Solutions representative is available to address your property's monthly maintenance priority list and to schedule, monitor, and follow up on your contractor's repairs as needed. The Board and the Director will predetermine the exact effort required and cost. The Director will present to the Board all repair requests and retain contractors and/or engineers as authorized by the Board for property renovations or construction.
Property Management Services
- Homeowner Account Web Access and Payment Options
- Community Web Site
- Obtain Vendor Bids
Negotiate money
- Monitor projects for the Association
- Day to day monitoring of property contractors
- Compliance letters to owners
- Interpretation of governing documents
- Monitor delinquent owners
- Update reserve study through an expert
- Prepare annual meeting documents
- Process and approve invoices for payment
- Homeowner communication
- Accurate record keeping, and retention of records
Accounts Receivable
HOA Management Solutions will prepare and distribute an annual dues coupon booklet and/or quarterly dues statement. HOA Management Solutions utilizes a lock box service with Mutual of Omaha Bank (CABANC) for dues payments. This computerized banking technology enables us to process your Association's income within 24 hrs of receipt, as well as accruing maximum interest on your average daily balance without monthly service fees. Checks returned for insufficient funds are monitored and appropriate action is taken.
Delinquent Accounts
HOA Management Solutions will monitor status of homeowner delinquencies and act according to the current delinquency policy set in place by the board. HOA Management Solutions will initiate legal proceedings for dues not received within the legal time frame through seamless interaction with the HOA's attorney. We will monitor each delinquency and act as a liaison for the Board in addressing all legal concerns and requirements.
Accounts Payable
HOA Management Solutions will pay all Association operating expenses out of the Associations Operating Account. For checks requiring Board approval on non-approved operating expenses as well as reserve expenses, we will obtain signatures on those checks as required each month. We will deposit designated funds into the Association's savings account for reserve build-up. Each month the Association's bank statements are reconciled by computer and provided to the Board.
Financial Reports
HOA Management Solutions will prepare monthly financial reports reflecting the Association's activity. Financial reports such as a balance sheet, a budget comparison that allows the Board to monitor all income and expenses in relation to projected budget items, check disbursement register, and delinquent/prepaid owners reports to assist in determining legal action decisions on delinquent accounts. We will also assist the Board with budget preparation for the Association. We will compile photography and complete forms with extensive property data necessary for reserve study specialists.
Tax Preperation/Audit/Legal
Prepare all necessary financial reports for the Association's audit or tax preparer. Review audits and income tax returns prepared by CPA for presentation to the board for approval and signature. We will prepare annual vendor lists and 1099s for the Association. This is not included in our base fee. We will interact and coordinate with the Secretary of State in maintaining the Association's corporate status. We will coordinate with the appropriate legal firm in amending, rewriting, or interpreting the Association's CC&Rs, By-laws, and Rules and Regulations.