A management company is contracted by the Board of Directors to provide such services as collection of assessments, supervision of subcontractors, obtaining bids for subcontracted services, providing financial statements and collection reports, as well as a general clearing house for problem solving, communications with homeowners and the Board of Directors and to serve in an advisor capacity. The management company reports directly to the Board and all decisions are made by a majority vote of the Board of Directors.
It is a non-profit entity registered with the state and managed by a duly elected Board of Directors. Its purpose is to maintain all common areas and to govern the community in accordance with the provision of the legal documents: CC&R’s, Bylaws, and Articles of Incorporation. The governing legal documents for the association may be viewed online by logging into your Homeowner Account and go to the Community Information section. The corporation is financially supported by all members of the condominium association. Membership is both automatic and mandatory.
The Bylaws are the guidelines for the operation of the non-profit corporation. The Bylaws define the duties of the various offices of the Board of Directors, the terms of the Directors, the membership’s voting rights, required meetings and notices of meetings, and the principal office of the Association, as well as other specific items that are necessary to run the Association as a business.
The Condominium Association or Homeowner Association again is a corporation and therefore a governing body that is required to oversee its business. The Board of Directors is elected by the homeowners, or as otherwise specified in the bylaws. The limitation and restrictions of the powers of the Board of Directors is outlined in the Association governing documents.
Most associations have developed Rules and Regulations as provided for in the Policy Resolutions and adopted by the Board of Directors. Rules are established to provide direction to the homeowners for common courtesies with regard to parking, vehicles, pets, and pool use hours, etc. In addition, your Association will adopt Architectural Guidelines with procedures for submitting requests to make exterior changes to your home. Such changes may include patio covers, decks, landscaping, exterior color changes or extensive interior changes and additions. These rules and guidelines are set up to maintain the aesthetic value and integrity of the community on behalf of all owners, and hopefully protect the market value of your investment as well. Violations of these rules may result in action by the Board of Directors and a fine. In addition, if you proceed with an exterior improvement or change without written approval of the Board of Directors or Architectural Committee you may be required to remove or correct the alteration and/or be fined for the violation.
The specific services included in the management fee are determined in the management agreement or contract. There is a listing of our services available on our website under the heading “service offerings”. The management fee is determined by the services requested.
The role of the Board of Directors is dictated in your governing documents. The officers have specific responsibilities as the president, treasurer and secretary specifically. With respect to the management company, the board of directors interacts with the association manager on a regular basis; presides over all meetings; and most importantly retains decision-making control.
The cost of management services is based on the level of service that the Board of Directors wants and contracts for. The cost will be based on size of community, services rendered, number of meetings, etc. The management fee is negotiated between PMG Services and the board of directors.
Your association dues (sometimes referred to as “assessments” or “fees”) are based on an annual operating budget for the association and set by the Board of Directors based on that budget. The fees cover the annual operating expenses as well as long-range expenses. The operating budget includes items such as lawn care, snow removal, insurance, taxes, utilities, management fees, maintenance and much more.
A management company is paid for the experience, knowledge, and understanding of the inner workings of a homeowner association. Also for providing critical resources to associations that promote the preservation of the property and the hassel-free lifestyle of the homeowners. On a day-to-day basis the management company is responsible to maintain the on-going administration of the operations of the property owned by the association and provide financial and administrative services.
The Board of Directors always retains the control of making decisions. It is the responsibility of the management company to gather any and all information necessary to give to the board so that the board can make well-educated decisions. Upon request the board may ask for input and advice, along with a recommendation from the management company.
All invoices will be directed to our office for processing. The associations’ invoices will be approved for payment by the association manager, with any non-recurring invoice that is questionable being discussed with the board of directors prior to payment. Upon request, invoices can be scanned and electronically sent to the treasurer for approval. Once the association manager has approved the invoice for payment, electronic checks are cut and signed by an officer of PMG Services.
Yes, there is a charge for processing requests for documents for both resale purposes and for refinancing. The charge varies based upon the requested documents. The charge is always paid for by the homeowner not the association. These documents are legally required by statute and not part of association business.
The only extra charges that the association will incur would be any out of pocket expenses that the management company has that directly involve the association. Examples of extra charges would be postage and photocopies. There are very few additional charges over and above the management fee and all are set forth in the management agreement.
Our online technology, powered by SenEarthCo®, is an option that can dramatically improve association management. Information is available with the click of a mouse, day or night. You can look up property regulations, view financials, see archived minutes and newsletters, and much more.