Property Management

Confer fully and freely with Board.
Attend Board meetings.
Attend Council of Unit Owners annual meetings.
Meet and confer with Board on matters of an emergency nature.
At request of Board, attend more frequent meeting of Board, Council or committees.
Not allowed to enter into obligations or contracts on behalf of the Council in excess of contractual limits without prior approval from Board.
May not enter into obligations or contracts on behalf of the Council that exceed one year in length, unless authorized.
Authority and duties assigned by Board are limited to "care and maintenance" of general and limited common elements.
There are no duties or supervision of work unique to a single association unit which is paid by Council.
Makes contracts for utilities, vermin extermination, trash and snow removal and all other necessary services or as directed by Board.
Place orders for all equipment, tools and supplies necessary for the maintenance of the Association.
Take actions to promptly comply with any and all requests or orders of governmental bodies and insurance companies (unless Board is contesting request/order or has indicated its plans to contest).
Will promptly (within 72 hours) notify Board in writing of all such orders, notices, or other requirements.
Keep a complete set of construction plans when available.
Keep a complete set of warranties and guarantees for common and limited common element equipment and facilities, when available.
Maintain a comprehensive system of office records, books and accounts.
Permit access to books on prior appointment to the Board, attorneys, accountants, other unit owners.
Allow books to be audited by Board appointed outside auditors.
Pre-approval from Board required for all purchases exceeding an amount to be set by Board of Directors.
Provide Board with a statement of receipts and disbursements by 25th day of month for preceding month.
Provide Board budget versus actual analysis of expenditures along with the statement of receipts and disbursements.
Annually cooperate with the Board to prepare the annual financial report.
Assist in preparing all forms, reports and returns as required by law pertaining to Association employees.
Prepare, with the approval of the Board Treasurer, the annual budget and operating plan.
Submit approved budget to all residents as notice for new year assessment.
"Settle" prior year actual versus budget adjustment after all expenses for prior budget year are recorded.
Operate in accordance with adopted annual budget and approved operating plan.
Meet and use the highest standards allowed within previously approved budgeted amounts and in accordance with standards established by Board.
With prior approval of the Board of Directors, investigate, hire, contract for, pay, supervise and discharge personnel and contractors necessary to properly maintain and operate the Association.
When authoized by the community's board, Management will assist the on-site staff in coordinating move-ins and move outs.
Maintain business-like-relationships with unit-owners.
Receive, consider, document actions taken for all requests from unit owners regarding general and limited common elements.
Complaints of a serious nature, after thorough investigation, shall be referred to the Board with appropriate recommendations from the Management Agent.
Make diligent and thorough efforts to secure full performance from all unit owners for their individual maintenance responsibilities.
Provide the Board with a list of delinquent assessments as needed
When requested conduct detailed semi-annual physical inspection of the common elements. Prepare a written report to the Board noting deficiencies and recommending repairs and capital improvements.
Assist in obtaining all insurance needed to adequately protect Council, Board, unit owners, mortgages and Management Agent, as required by Board and Declarations and Bylaws.
Assist in investigating and to make a full written report of all accidents and claims relating to management, operation and maintenance of the Association.
Cooperate and prepare all additional reports required by insurance companies regarding accidents and claims.
Use best effort to collect all assessments due to the Association. Best effort includes use of collection agencies and legal recourse through association liens and foreclosures.
Maintain Association funds in an FDIC insured bank.
Invest reserve funds as directed by the Board of Directors.
From collected funds, make the following disbursements:
- 1. Salaries and wages of Council employees, payments to contractors and taxes due.
- 2. Insurance premiums, other expenses from approved budget and in accord with operating plan.
- 3. Reserve accounts.
- 4. Other sums for operating expenses
All expenses incurred that directly benefit the Council shall be reimbursed by the Council. No items of an overhead nature of the management company shall be included.
Legal fees incurred for the direct benefit of Association are reimbursable.
Maintain roster of unit owners including names and addresses. Roster shall be used for all mailings announcing meetings of the Council.
Maintain list of institutional mortgages when notice has been received from mortgagee to be included on all mailings to Council members.
Maintain copy of leases for leased Association units.
As if requested prepare meeting announcements for the annual meeting.
Reproduce, mail or otherwise distribute community news letters.