The following are provided under our Financial Services Only management program:
- Collection of assessments and depositing into financial institution of Association's choice
- Lock box service for dues collection.
- Auto debit program for payment of dues at no additional charge.
- Preparation of monthly delinquency report to be distributed to the Board of Directors and mailing of delinquency notices as needed
- Preparation of lien notices and lien filings (fees for these services are charged to the delinquent homeowner)
- Assistance with collection lawsuits if necessary, appearance at small claims court as needed (a $75.00 per hour fee is charged to delinquent homeowner)
- Preparation of monthly and annual financial reports on a cash basis
- Assistance with preparation of annual budget and reserve study analysis to be distributed to all owners
- To make all necessary monthly expenditures out of operating account and other payments as directed by the governing Board of Directors (checks are prepared for Board member signatures)
- To reconcile monthly bank statements
- To assist Association's accountant with preparation of annual tax returns and annual fiscal review
- To prepare and distribute annual W2 and/or 1099 forms as required by the federal government
- Payroll and quarterly payroll reports if applicable
- Maintain Association’s data base and update as needed.
- Other duties to be included as mutually agreed upon by Board of Directors and The Management Alternative
- Preparation of lender questionnaires and escrow documents as needed (Note: An additional fee is charged to the buyer and/or seller involved for these services.)