Condominium Management

The condominium management industry has matured significantly since 1995. We believe that condominiums and homeowner's associations have become a permanent life style choice for Puget Sound homeowners as opposed to a stepping stone to other types of housing. This maturity has brought about a more sophisticated homeowner in the operations of their associations as well as more regulations by the State, such as mandatory reserve studies. We believe the homeowner now recognizes the value of professional property management and view this business relationship as valuable, important, and on going.

Our goal is not to be the largest condominium management company in the Puget Sound Area, but to be the best. We set out to provide the level of service, competence and attention to details our clients expect.

Fiscal Accounting:

• Prepare an annual operating budget in accordance with the Declaration and the Board of Directors 30 days prior to the end of the fiscal year.
• A liaison for a reserve study in accordance with the Board of Directors for the replacement of the major components of the property/building.
• Receipt and posting of individual association member dues and special assessments to individual account records.
• Account ledgers for each homeowner.
• Prepare and distribute a monthly financial statement (Balance Sheet & Income Statement) and supplemental reports detailing expense variances, money collected, monthly expenses, outstanding dues, and outstanding invoices.
• Daily tracking of all bank accounts.
• Monthly reconciliations of all bank accounts.
• Preparation and mailing of notices and letters as directed by the Board of Directors.
• Delinquency collection.
• Preparation of any annual financial reports as directed by the Board of Directors.
• Prepare, maintain, and disburse payroll for any on-site personnel and/or employees.
• Process invoices and pay invoices.
• Assist in the annual audit of the Association by providing the records to the auditor.

Administrative:

• Attend regular board meetings to review short term and long term operations.
• Maintain all financial records for a period of 7 years in accordance to GAAP (Generally Accepted Accounting Principles).
• Maintain files for all major common area repair expenditures.
• Maintain a file for all correspondence and Board meeting minutes.
• Maintain a master file for all pertinent property information.
• Maintain a current list of all homeowners and mailing addresses.
• Prepare and mail necessary correspondence, such as letters, newsletter, late notices, and minutes as directed by the Board of Directors.
• Enforce the House Rules adopted by the Board and as directed by the Board.
• Architectural Control and enforcement.
• Provide and maintain a community website if requested.

Site Management:

• Perform on-site visits/inspections as required.
• Organize and establish a liaison for repair work on common areas as directed by the Board of Directors.
• Make recommendation of long term maintenance needs.
• Collect and review bids for common area maintenance and reserve projects.
• Collaborate with consultants and engineers hired by the association.
• Schedule and oversee any on-site maintenance jobs.
• Recruit, hire, and train all Association personnel as directed by the Board of Directors.
• Prepare daily, weekly, monthly preventative maintenance schedules if requested from the Board.
• Supervise all on-site personnel.
• Prepare on-site personnel job descriptions.
• Maintain common areas in accordance to the standards of the Board of Directors.
• Negotiate and retain contracts and services, including utilities, building services, auditing, fire equipment, and any other contract services.
• Assist in processing insurance claims for the Association.