Central Florida Condominium Association Management

Community Association Management Services

Effective Community Management is becoming  increasingly more challenging and highly competitive field that requires a fresh new approach to meet the needs of Homeowners’ Associations and Condominium Associations in our current real estate environment. With per capita population growing and millions of new homes, condos and other community developments nearing completion,  management service is often the very face of your investment and community.  The team at Property Management & Operations, LLC. is dedicated to empowering every Community, Condominium, and Homeowners’ Association we represent with the highest level of service, technology, and professionalism and integrity.

 

Our Services Include:

    

Inspections and Maintenance

  • Regularly inspecting the association’s property and monitoring the condition and maintenance needs of all facilities and common areas
  • Assisting the association in securing bids on services and products and ensuring that maintenance providers are properly insured and licensed
  • Monitoring the activity and performance of maintenance providers
  • Regularly inspecting the member properties to ensure compliance with covenants, restrictions, and by-laws of the association
  • Following up on complaints of violations or maintenance issues received from association members or the Board
  • Assisting in obtaining property and liability insurance for the association and assisting in the reporting and filing of insurance claims on behalf of the association

Member Assessments

  • Maintaining the assessment rolsl and coordinating closing information with the title companies and attorneys
  • Preparing and distributing member assessment statements and collecting and depositing assessments into an association bank account insured by the FDIC
  • Preparing past due notices, intent to lien notices and liens in accordance with the policies of the association  at minimal legal expense to the association
 

Accounting

  • Preparing all monthly and year-end financial statements and other reports as needed, such as detailed general ledger, cash receipts, and disbursement registers
  • Maintaining the association’s bank account and, if necessary, assisting the association with maximizing income and minimizing costs from associated accounts.
  • Preparing monthly bank reconciliation
  • Assisting the Board in preparing the annual budget

Tax Requirements

  • Assisting the Board with all IRS tax requirements, which may include 1099 forms for vendor payment,  preparing and filing the Annual Report as required by the Florida Department of State
  • Coordinating the filing of tax returns via an independent CPA firm and coordinating any financial audits or reviews as required

Association Governance

  • Conducting regular site visits to ensure property is in compliance with governing documents
  • Preparing violation letters and follow-up on violations
  • Preparing monthly Management Reports for the Board of Directors, summarizing significant events and actions for the period
  • Attending Board of Directors meetings, special meetings, and annual meetings upon request by the Board
  • Advising Board of items that may be appropriate for meeting agenda
  • Arranging for transcription of minutes upon request by the Board
  • Preparing and mailing proper notices for annual and special meetings
  • Facilitating communications between the members and the Board

Association Records Maintenance

  • Maintaining the official records and files of the Association, including;
    Minutes of Board meetings, special meetings and annual meetings
  • Maintaining records of meeting attendance and accounting records, including cash receipts and disbursements, Federal and State tax returns and other tax-related records