Orlando Equity management tools (tailored to meet the needs of the Client) include:
• Contact Management
• Impact Flyers
• Private Intranets for Board Members and Committees
• Association Web Services
• Online Document Access
• Membership Surveys
• Event Organizing
Management Services include:
• Association Web Services
• The safekeeping of the Association’s Operating Account, as well as separate accounts for reserves and special deposit accounts.
• Ensure all funds are retained in a custodial account (in a state or national bank) where deposits are insured by the Federal Deposit Insurance Corporation (FDIC), separate and apart from Agent’s own funds.
• Be covered by a fidelity bond or provide Errors and Omissions insurance coverage.
• Provide lock box arrangements for ASSOCIATION assessment payments.
• Disburse funds into the Association’s bank accounts.
• Deposit funds into the Association’s reserve account, as directed by the budget or the Board of Directors.
• Prepare checks for payment of Association’s obligations for the timely payment of purchased items, utility bills, services, or tax payment.
• Maintain and prepare monthly accrual financial reports for the ASSOCIATION including, but not limited to, a check register, income and expense statements, a balance sheet, an itemized listing of accounts receivable, and disbursements plus funds statements including pertinent bank reconciliation reports.
• Review annual financial statements and make the CPA’s recommended adjustments to the records.
• Help arrange for a compliant chapter 720 annual GAAP Opinion Audit, review or compilation (as provided in the Association’s DCCR) of the Association’s financial records as directed by the Board of Directors. Costs are to be borne by the ASSOCIATION.
• Maintain a general ledger to reflect cost code accounting of all ASSOCIATION disbursements.
• Prepare and present all monthly financial reports to the Association’s BOD no later than the 20th of the month following the month being reported. Also provide copies of the reconciled bank statements, a new homeowner list and a delinquency report with recommended actions.
• Maintain, on a daily basis, individual account statements for each member – on which there are posted debits and credits to include monthly computations of interest and/ or late charges due on past-due or delinquent accounts.
• Assess interest, late fees, collection costs and/or attorney’s fees to member accounts as outlined in the Association’s Declaration of Covenants and Restrictions and/or management agreement and mail collection notices to all members who are past due in payment of assessments.
• Review and verify all invoices and charges to the ASSOCIATION by vendors and contractors on a weekly basis to ensure compliance with contracted services and goods.
• Procure and maintain back-up documentation to support vendor and/or contractor charges.
• Make official records available for inspection by all residents upon reasonable request as detailed in Florida State Statutes.
• Assist the Board of Directors in preparation of the Association’s annual budget. Present draft budget to the Board ninety (90) days before the beginning of each new calendar year end. AGENT will assist in preparation of a budget that sets forth an itemized statement of anticipated receipts and disbursements.
• Maintain a detailed schedule of reserve items, which disclose estimated date of replacement and assure proper reserve funds are being accumulated to provide for repair or replacement of such listed reserve items. As deemed necessary by the Board of Directors, obtain third party evaluation, where reasonably accurate estimations are difficult to predict, the cost of which will be borne by the ASSOCIATION.
• Help ASSOCIATION keep costs under control by suggesting improvements in existing systems or procedures where reductions can be expected by experience or exposure to such improvements.
• Maintain accounting records in a systematic method so that access is available to properly authorized residents. Provide professional printing and distribution of scheduled maintenance fee assessment notices and payment envelopes to all members at the address provided by the member for billing purposes.
• Advise individual members of Association’s authority and notice of intent to file liens against member’s property (should member’s account become delinquent) to protect Association’s financial interest.
• As directed by the Board of Directors, the AGENT shall arrange for the Association’s attorney to prepare liens for delinquent assessments, or other fines, assessed by the board and, when appropriate, prepare satisfactions of lien. As directed by the Board of Directors, AGENT will forward necessary documentation to Association’s attorney for legal action.
• Assignment of one Community Association Manager exclusively to the ASSOCIATION who shall be designated to manage the affairs of the ASSOCIATION.
• Ensure that the assigned Community Association Manager is licensed in accordance with Florida Statutes. Such management shall be in accordance with the Association’s recorded Articles of Incorporation, By-laws and Covenants and Restrictions, as well as applicable State statutes.
• Community Association Manager will become thoroughly familiar with all of the Association’s governing documents including, but not limited to, the Declaration, Covenants, Conditions and Restrictions, By-Laws, Policies and Guidelines.
• Renew the Association’s Corporate Charter, and arrange for other such filing, licensing and recording provisions in a timely manner as required by law.
• Act as the Association’s primary liaison with other formal entities such as governmental agencies, attorneys, realtors, developers, and contractors.
• Act in an advisory capacity to the ASSOCIATION Board of Directors.
• Inform the Board of Directors of legislation that may affect the ASSOCIATION.
• Take action on those items assigned to AGENT by direction of the Board of Directors in a timely manner.
• Receive and distribute all correspondence addressed to ASSOCIATION on a regular basis.
• Compose outgoing correspondence as directed.
• Provide ASSOCIATION with Certificates of Insurance.
• Maintain current official records for the ASSOCIATION including, but not limited to, correspondence files, meeting minutes, insurance policies, contracts, financial records, and other pertinent official records. Maintain a filing system of the Association’s important papers such as contracts, owner’s communications, public agency filings, and financial information.
• Maintenance of an ASSOCIATION repository, as required, for additional ASSOCIATION inactive official records for the period of time dictated by Florida Statutes. ASSOCIATION to retain ownership of all records. AGENT will not destroy records that have exceeded the period of time they must be retained, without written authorization from the Board of Directors.
• Maintenance of a database, which will include all lot or unit owners and their complete mailing address as required by Florida statutes.
• Make the Association’s books and records available for inspection by any owner, upon reasonable notice, during regular AGENT business hours in accordance with Florida State statutes.
• Arrange for mailing or other distribution of notices required by the Documents, Statutes, or as required by the Board of Directors.
• Support the ASSOCIATION should it become involved in litigation or pre-litigation resulting in research, document preparation, deposition, testimony, etc.
• Provide an information package/letter to new owners, which will include notification of Agent’s contract with ASSOCIATION, emergency telephone numbers, payment coupons and the name and phone number of the Association’s property manager within 15 days after receiving notification of a new owner.
• Respond to all telephone calls/emails by close of business of the next business day after receipt.
• Receive and date stamp incoming Architectural Review Committee (ARC) applications received at Agent’s address, log them, then forward to the ARC or BOD (as applicable) no less often as once per week.
• Advise homeowners of ARC/BOD approval or denial within three days (72) hours after the receipt of the approved or denied application.
• Advise the President of the ASSOCIATION of any significant difficulties or potential problems within twenty-four (24) hours of such matters coming to the Agent’s attention. AGENT shall notify ASSOCIATION within a reasonable period of time given the circumstances of any fire, material accident or other casualty, condemnation proceedings, rezoning or other governmental order, lawsuit or threat thereof involving the Association’s property.
• Provide monthly management report detailing management activities during the previous month no later than the 25th of each month for the previous month. The management report should accompany the monthly financial report.
• Assist the Board to maintain an “action item list” for pending issues.
• Attend meetings of the Association’s Board of Directors and Membership Meetings.
• Type, reproduce and distribute meeting minutes.
• Reproduce and distribute general announcements and other information to all members including notices, proxies and ballots relative to the Association’s Annual Meetings and Elections as required by the Association’s documents, State law, and as required by the Board of Directors.
• Ensure member compliance with the Association’s governing documents.
1) Establish written system to insure and document follow-up
2) Mail violation letters to residents within four business days of inspection.
• Maintain a file for each lot by street address, which will include copies of correspondence, ARC documentation and other information pertinent to the lot.
• Provide other administrative support as the Board of Directors may require.
• Prepare written notification to those members that are in violation of the Association’s governing documents and, if directed by the Board of Directors, arrange for legal enforcement of said violations in accordance with the Association’s enforcement policy.
• Investigate homeowner complaints and send a letter (upon confirmation of the violation) within 7 days after receiving the complaint. Copy of complaint is to be provided to the Board of Directors of the ASSOCIATION.
• Help develop community leaders by assisting in forming, training and supporting committees as deemed necessary by the Board of Directors. AGENT shall initiate recommendations for committee formation that they deem beneficial for the good of the community.
• As directed by the Board of Directors, facilitate the operation of various committees, included but not limited to Transition, Architectural Review, Operations and Legal Committees.
• Ensure that contractors are fully licensed and insured, including Workers’ Compensation Insurance (or waiver if applicable), if the contractor’s employees are working on the ASSOCIATION property.
• Ensure any necessary permits have been obtained before contractor begins work. Any and all costs to be born by the ASSOCIATION unless provided by contractor.
• Diagnose and troubleshoot maintenance problems, determine repair methods and determine the alternative use of outside contractors in making repairs.
• Visit the community no less than every other week to:
1) Evaluate the material condition of the ASSOCIATION assets
2) Conduct property, building, equipment and landscape inspections and document deficiencies and
3) Direct correction by appropriate personnel/vendors within 24hours.
4) Follow-up to insure completion within 30 days.
5) Supervise contracted employees
6) Issue a written report of findings and actions to the Board of Directors in the
7) Monthly Manager’s Report or to the appropriate committee as directed by the Board of Directors.
• Receive record, arrange for correction and follow up on satisfactory completion of service requests from unit owners for maintenance and repairs of the common elements and/or individual lots/units is applicable.
• Issue and retain records of work orders to maintenance people and contractors requesting performance of necessary maintenance and repairs.
• Meet as required with members of the Board of Directors and/or property owners on site to evaluate and correct deficiencies of material condition or performance of contracted employees.
• Obtain competitive bids and make recommendations to the Board relating to contract services. Make awards as agreed to by ASSOCIATION Board of Directors.
• Have the authority to make emergency repairs as may be required because of danger to life or property, or which are immediately necessary for the preservation of safety of ASSOCIATION or its members and occupants, or are required to avoid the suspension of any necessary services to ASSOCIATION.
• Provide a system, for the residents of the ASSOCIATION, to have a properly qualified person available to handle emergencies affecting the entire association. Such service will be available to residents 24 hours a day, seven days a week.
• Unless otherwise directed by the Board, obtain three bids and board approval for all non-contracted expenses in excess of 10% of the annual budget for the ASSOCIATION.
• Verify completed work to specifications within any applicable Request for Proposal.
• Implement an effective task order tracking system to determine the status and condition of tasks that cost more than $1,000.00 as they move toward completion.
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