Is it all about the Management Company?

Our experience has shown that, in addition to the management company, vendors play a significant role in the stability, continuity and success of a community. Generally, pool management fees, landscaping costs and attorney fees can take up a higher share of revenue than the association management costs.

We are always looking for more cost-effective vendors. We learned about a local insurance agency that we have recommended since 2010, which has provided more coverage, and in some cases, saved communities thousands of dollars annually.

Our team consists of administrative staff and property managers. Our property managers conduct all of the site inspections so they are able to see first-hand what is happening in their own communities. They utilize our extensive list of insured vendors for any maintenance projects that arise. Multiple quotes can be obtained for projects if needed.

If you would like to set up a meeting with Key Community Management, we can also invite our most valued vendors to speak with you including our law office, bank representative and insurance agent.

Services

Administration

The board sets policy and establishes a direction for the association and we follow through to be sure polices are implemented. Below are some of the administrative services we provide:

• Coordinate and supervise maintenance activities, landscaping, repairs, pool upkeep, etc.
• Request quotes for projects or repair needs and screen contractors. All of the contractors we use are licensed and insured.
• Alert the board when legal assistance is needed.
• Advise the board of regulatory issues and compliance requirements, fair debt collection practices, etc.
• Work with insurance companies to file or settle claims.

Finances

Financial responsibility, including operating and reserve accounts for the association, rests with the board, but the management company plays an important role in implementing financial policies and carrying out the day-to-day activities of managing finances. Such activities include:

• Prepare a budget with the help of the board, schedule a budget ratification meeting and mail the payment coupons with owner account numbers for the payment of assessments.
• Collect assessments through a collection process reviewed by our real estate attorney and approved by the board.
• Reconcile bank statements and send PDF financial information by the 15th of each month.
• Coordinate a reserve study analysis offered by a specialized vendor.
• Maintain thorough and accurate files and records and store files for three years in a secure area.
• Prepare tax returns utilizing an accounting firm.
• Review and pay invoices. We utilize work order forms for the approval of invoices that are not monthly or regular budgeted items.

Communication

• Prepare and distribute information to all homeowners within the association as related to the homeowners association’s activities and guidelines via newsletter, letter, website or whatever means is deemed appropriate by the board of directors.
• Conduct regular site inspections and mail violation letters to owners as needed. Schedule hearings with owners as needed to resolve ongoing violations.
• Receive architectural requests for exterior and property changes, and submit requests to the board.
• Return all phone calls within one business day and reply to all emails in a timely manner.
• Provide all board members with community manager’s cell phone number.

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