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