Condominiums, Coops, and HOA's

HIGHLIGHTS OF JTM STANDARD SERVICES--CONDOMINIUMS, COOPS, AND HOA'S

These standard services for over 20 years have been the way we do business, standing us apart from other maangement firms. The level of service is legally set by your Board, therefore if more less desired, plesae let us know:

 

  • No commingling of funds---accounts are established in the property name and tax ID number; a Board resolution is needed to withdraw from reserve accounts and make other than routine payments; reserve accounts may remain under Board control.

 

  • Maintain your records and files; send the needed financial records to your CPA for audit/tax preparation, and have your president sign them, then mail them and file the signed copy; the preparer's report is distributed to the Board. (An audit every other year is recommended.)

 

  • A monthly report is issued to the president and treasurer between the 20th and 30th of each month---which includes a computer report with budget comparisons, delinquencies, phone numbers, copies of checkbook ledgers, invoices, bank statements, and correspondence---to keep you informed.

 

  • Late notices and statements on delinquent accounts are sent out monthly between the 16th and 20th of the month; at the Board's direction delinquent accounts are forwarded to an attorney for collection, and further if directed.

 

  • We recommended attending most Board meetings and certainly, the annual meeting, this helps maintain good and clear communications and provide us with policy to better act as your agent---a two way dialogue is essential.

 

  • We prepare and send/post memos, notices, minutes and other such communications, including meeting notices and proxies, minutes and a full package after the annual meeting (if the secretary does not write the minutes, we will do it).

 

  • For building services, we write for Board approval bidding specifications, meet contractors and obtain bids, and present them with recommendations, then with the Board's decision let the contract, monitor it and administer it; rebid insurance coverage and check for adequate coverage, especially with your bond.

 

  • Check the building weekly, or more frequently if needed; check such things as cleaning quality, trash collection, security, fire extinguisher, roof and gutters, fans and HVAC systems, the elevator, special areas and problems, move in/out inspections and much more.