The following is an outline of the regular management services that we will provide, commencing with the execution of a management contract, and continuing for the contract term.

Financial

  • Maintain Interest-Bearing accounts in financial institutions located within the Commonwealth of Massachusetts which are guaranteed by the FDIC and are in the name of the Trust;
    • Regular Operations account (if available)
    • Reserve Fund account
  • Collect common area charges and maintain accurate records of fee payments and balances
  • Notify delinquent Unit Owners as instructed by the Trustees
  • Receive vendor invoices
  • Pay vendor invoices as approved by the Trustees
  • Maintain accurate records of receipts and disbursements
  • Provide accrual basis financial statements monthly
  • Provide copies of paid invoices to treasurer for prior month
  • Provide year-end financial statements
  • Develop comprehensive budget recommendations at least sixty (60) days prior to the expiration of the fiscal year

Administration

  • Insurance Administration
    • Periodic Review of property appraisal to insure proper value of the policy
    • Seek competitive bids for master policy premium
    • Advise in the area of deductible amount
  • Provide 24 hour accessibility for Unit Owner calls and emergency repairs;
  • Monitor follow-up system to ensure that repairs, complaints, suggestions, and comments are addressed expediously;
  • Provide and distribute newsletters to all Unit Owners periodically as approved by the Board of Trustees if the Board deems same to be necessary
  • Provide Trustees with meeting materials
    • Agenda
    • Minute Outline
    • Newsletter format
  • Enforce By-Laws and regulations including notices to Unit Owners and engaging legal services if required;
  • Make recommendations to Trustees for building and/or grounds improvement as required;
  • Provide Trustees with the following:
    • 6(d) Certificates;
    • Trustee Election and Acceptance forms;
    • Trustee Resignation forms;
    • Right of First Refusal forms (if applicable)

Building and Grounds

  • Negotiate professional services for common areas where applicable, including:
    • Maintenance and Repairs
    • Grounds Maintenance
    • Utilities
    • Trash Removal
    • Snow Removal
    • Extermination