Because Asset Management Is More Than Just a Sign In The Yard!

Condo Association Management


New Millennium Realty

 

What to expect from New Millennium Realty as your Condo Association Managers!

 

(In short, everything needed to successfully run your association!

Accounting:

  • Collect the Owners Assessments
  • Pay Bills
  • Provide monthly income & expenses
  • Follow up on late & delinquent owners
  • Complete monthly bank reconciliation
  • Track sales with title companies
  • Submit annual reports for state agencies
  • Prepare with Treasurer the annual budget

 

Board:

  • Meet with board of directors when needed, 4 times per year included.
  • Make recommendations to and help the Board solve problems
  • Prepare monthly maintenance, financial, delinquency and budget spreadsheet report
  • Insure necessary actions are before the Board
  • Assist in preparing agenda, reports & proxies for annual meeting

 

Maintenance and Landscaping:

  • Confer with the Building @ Grounds Chair once a month
  • Log and track all of the work orders
  • Review the work order log with the Chair on a regular basis
  • Identify problems, research options & submit to Board
  • Set specifications for bid work and solicit bids
  • Submit bids with recommendations to the Board
  • Maintain permanent subcontractor files
  • Review and track all maintenance service
  • Notify owners of work schedules
  • Sign off on satisfactory work
  • Sign time sheets
  • Annual Budget Review
  • Advise on Code Violations
  • Advise on Safety hazards
  • Weatherization

 

Administrative:

  • Property managers will visit the site a minimum once a month
  • 24 hour Emergency line to take care of Owners emergencies
  • Keep owner & property files up-to-date at our office
  • Maintain Owners directory
  • Prepare automatic & Board ordered letters
  • Prepare & submit Annual Management Plan
  • Maintain permanent file of Condo Rules, Bylaws & Declaration
  • Arrange for attorney to send to collections letters & file liens on 90 day arrears
  • Arrange legal foreclosure after Board action
  • Stay informed of revisions in Condo Law
  • Act as Agent of Record
  • Guidance with insurance information
  • Obtain bids for insurance renewal when necessary
  • Publish newsletter, edited & supplied by Board of Directors
  • Work with owners regarding illegally parked vehicles
  • Respond to complaints from owners regarding pets that are unleashed
  • Resolve any other owner concerns/ complaints/violations
  • Conduct owner mailings
  • Mail assessment coupons
  • Assemble & mail newsletters
  • Assemble & mail monthly Board packets 1 week prior to Board meetings
  • Assemble & mail the agenda, reports & proxies for the Annual meeting

 

We have contracts with contractors for the following:

  • Lawn-Maintenance
  • Trees & Bushes- Maintenance, Removal & Planting
  • Flower Beds
  • Plumbing- Water, Sewer, and Back Flow Testing
  • Storm Drains
  • Sprinkler System and repair
  • Electrical- lights
  • Siding, Decks & Walls
  • Painting
  • Pool Treatment-Winterization and repair
  • Pest Control
  • Street & Sidewalk- Repair and Maintenance
  • Street Sweeping
  • Equipment Maintenance
  • Legal-Insurance etc.

 

Client Relations / Communication

 

The #1 complaint we are hearing from Associations about their current management company is communication.

 

We have a full time office staff to service you. 24/7 maintenance staff to take care of all your maintenance needs.  That all sounds great but every management company has that right?  What makes us different?

 

How about 24/7 access to management level employees cell phone numbers!

  • Don’t get the response or information you needed call the Bosses directly!

 

Community Website

  • Eliminates a lot of the middle man issues and timing.  With our Community Website access we are able to offer extended information any time of the day, no more trying to get a hold of your management company on your lunch break we are listing 24/7.
  • All important information at your fingertips.   Condo Docs, Rules and Regulations, Up coming events, Past meeting notes, Budget, Blog and more.
  • Board Member Portal, Real time Financial Information, See current income and expenses at your finger tips.
  • Owner Portal, Real time unit ledgers, balances and fees, Online visa and Master card payments, Easy Pay ACH (auto pay options), File maintenance requests and complaints.
  • Easy list of contacts for Board Members and Management Numbers.

 

The first step in managing your condo association is to develop a relationship with your owners.  This relationship begins with the initial notice that New Millennium Realty Property Management will be their managing agent.  At this time we will send out questionnaire to find out what their needs are and determine how we can help them.  We have learned that early contact with owners helps develop this relationship.  Depending on the size of a complex we may also have a meet and great time for owners to stop by the club house and discus their issues in person.

 

We believe that developing a sense of community is paramount to the association’s success.  It requires continued attention to common areas including the grounds and will result in pride of ownership.

 

Half of the Battle to customer relations is them knowing that something is being done.  It is our policy to answer every request by email or phone within 24 hours.  Letting them know we got the request and a time line to expect for a response.  Then once a decision has been made we update them again and keep them posted along the way.  With the use of the community website we can post updates on large issues as they are being worked as well.

 

Most Common Condo Association Issues

Poor Condo Fee Collections

Not Enforcing Condo Rules

Property Deterioration

No Caps on Number of Rentals Allowed

No Long Term Plans

No Long Term Budgeting

No Late Fees Built in

Low Reserves

No Escrows on New Transfers

No Transfer Fees Built in

Parking Lot Maintenance

Pool/Common Area Maintenance

No Common Ground with Board Members

Poor Communication

 

 

The short list above are the first things we question when looking at a Condo Association if these are your issues than making a management change may be your first step.  We will take a third party perspective and come up with a short and long term plan and budget to get the community running smoothly.

 

 

New Millennium Realty

Chris’s Cell 740-975-7353

Chris@chriszigan.com