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PROPERTY MANAGEMENT COMPANY’S SUMMARY OF DUTIES

 

Property Management:

 

  • Assist the association in locating and contracting with maintenance providers

  • Assist in securing competitive bids on services and products of the association

  • Coordinate the activity of maintenance providers

  • Issue violation notices and take other appropriate action necessary to resolve a violation in accordance with association documents and instructions of the Board

  • Provide assistance in obtaining property, directors and officers, liability, and other forms of insurance appropriate for the Association

 

Assessments:

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  • Complete invoice or coupon billing to each Association member on a monthly, quarterly, or annual basis as appropriate for the association

  • Collection and deposit of assessments into the Association bank account insured by FDIC

 

Accounting:

 

  • Preparation of quarterly and year-end financial statements

  • Preparation of supporting financial reports

  • Maintaining and updating detailed accounts receivable records

  • Maintenance of Association bank account

  • Preparation of monthly bank reconciliation

  • Preparation of annual budget under guidance of the Association Board Tax and Association Reporting Requirements:

  • Arrange the preparation and filing of Federal tax returns

  • Coordinate filing of Annual Report required by the Florida Dept of State

  • Coordination and oversight of financial audit and reviews by independent CPA if required by statute or requested by the Board. Association Governance:

  • Attend Board/Membership meetings per contract

  • Advise Board of items that may be appropriate for meeting agenda

  • Prepare and mail proper notice for annual and special meetings

  • Facilitate communications between the members and the Board

 

Maintenance of Association Records:

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  • We act as custodian of official records and files of the Association including:

    • Minutes of Board meetings, special meetings and annual meetings

    • Annual and special meeting attendance records

    • Accounting records including cash receipt and disbursement records

    • Insurance records

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