Duties Performed for Community Association Management
Real Estate Agents, Attorneys, Owners...
Order your Closing letter or Statement of Account Here.
Due to current legislation, this must be ordered and paid for in advance.
"Go as far as you can see; when you get there, you'll be able to see further"
A Perfect Check and Balance System
Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound financial decisions.
From developing Pro-Forma operating budgets to reserve funding, our firm has the resources to protect and maintain the financial health of your association. As part of our services we provide the following financial reports on
both an interim and annual basis:
Accounts Receivable Report
Bank Reconciliation of All Accounts
Budget Comparison Report
Cash Disbursement Report
ACCOUNTING SERVICES INCLUDE
Prepare annual operating budget with Board input
Send out billing for assessments
Send delinquent accounts to collections based on the structure of the Board
Prepare and deliver monthly financial statements to the Board
Collect assessments – electronic forms of payment are accepted
Make regular deposits in an FDIC insured bank
Accurately apply all money received to homeowner accounts
File annual registration with the Secretary of State
Assist the CPA in the association’s Federal and State income tax filing
Work with attorneys on all collection accounts
Work with attorneys to file liens on delinquent accounts when necessary
Receive and verify the accuracy of all invoices
Pay all invoices in a timely manner
Maintain records of re-sales in the community
Send out closing letters and work with closing attorneys to ensure the association is paid all outstanding balances at every closing
Record bankruptcies and foreclosures in the community
Assess fines for covenant violations as needed
Maintain all ACC Forms, seek approval/denial, send homeowner approval/denial letter
Keep files for association
Community Association Management
Community Association Management is a specialty in the real estate realm. It can get sometimes confusing knowing what is important and required while living in an HOA. That’s why it’s crucial to take an informed and well-planned out approach. Exclusive Association Management is here to guide you through the process every step of the way, and provide all the resources and services you need.