HOA Management
Managing a Home Owner Association requires additional skills on top of
those necessary to be a successful property manager. The HOA manager may
also act as agent for the association and provide administrative services
for the association members (or owners) and their Board of Directors.
Additionally, the level of detailed accounting also increases due to the
filing of tax returns, reserve accounts, special assessments and the fact
units may be bought and sold daily.
Worth Ross Management Co, Inc., provides services
in four basic categories:
Administrative Services:
- Prepare and mail notices, proxies, ballots and agendas in accordance
with the requirements and provisions of the Declaration and the By-Laws
of the Association.
- Guide and assist members of the Board in the performance of their
obligations.
- Guide and assist the Board in the development of policies and procedures.
- Assist in the administration of the provisions of the Declaration,
Articles of Incorporation, By-laws, rules, regulations and policies
of the Association (the "Governing Documents").
- Maintain all records of the affairs of the Association and the Board,
including the Declaration, Articles, By-Laws, rules and regulations,
policies, minutes of meetings and copies of contracts.
- Maintain registers of the Owners, Officers, and Directors and such
other registers or schedules as may be required by the Governing Documents.
- Maintain business relations with owners/tenants, and assist in resolving
individual owner/tenant requests as they pertain to the administration
of the Association, Common Elements, and governing "Rules and Regulations".
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Fiscal Services:
- Assist in the preparation of an annual operating budget for the ensuing
fiscal year.
- Prepare and distribute the monthly financial statements to the Board.
- Assist in performance of audits in conjunction with auditors appointed
by the Board.
- Assist in the collection of all assessments and other charges due
by owners; maintain checking, savings and other income accounts on behalf
of the Association and maintain records of the Association.
- Mail notice of delinquency to any owner in arrears, exert reasonable
efforts and take such reasonable action for the collection of the delinquent
assessments as the Board may determine in accordance with the Governing
Documents and adopted policies and procedures.
- Make all disbursements from assessments collected for normal recurring
expenses as provided in the budget.
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Physical Management:
- As Managing Agent we will cause the property to be maintained as directed
by the Board, and as provided for by the operating budget.
- Make physical reviews of the property.
- On behalf of the Association Managing Agent will monitor the performance
of independent contractors and/or employees required for the operation
and maintenance of the property.
- Negotiate and execute on behalf of the Association, contracts for
utilities, trash removal, landscaping and such other services as may
be necessary and advisable. Managing Agent shall also purchase on behalf
of the Association such equipment, materials and supplies as are required
or necessary for the proper maintenance of the property.
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Insurance:
- Assist the Board in matters relating to protection of the property
against risks. And with the approval of the Board, place appropriate
insurance coverage for fire, general liability, fidelity bonds, statutory
and other approved forms of insurance coverage.
- Assist in processing insurance claims against the property. Investigating,
reporting, supervising and following-up on payment on insurance claims
for damages covered by the Association's insurance.
- We feel that constant communication and shared goals are the keys
for a well operated Home Owners Association. Therefore we suggest associations
provide as much information as reasonably available to the members.
Worth Ross Management Co. offers members of the associations we manage
the following information available on our website:
- Association News
- Notice of Meetings
- Minutes of Meetings
- Rosters
- By-laws & Documents
- Maintenance Requests
- Annual Budget
- Monthly Financial Reports
- Contact Information
For more information on our Association management program please contact
Worth Ross Management Co. Thank you!
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