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Overview
Managing
a condominium association is a multifaceted activity which draws on a range of
talents and capabilities, whether performed by a property management firm or by
unit owners in a self-managed association. How are these matters handled by your condominium? Would your association
benefit from CityState’s professional management
services?
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Financial Management
- Assistance in preparing annual operating and capital budgets and tracking performance against budget in monthly financial reports.
- Collection and deposit of condominium fees and special assessments.
- Payment of operating expenses for utilities, cleaning, maintenance and other routine items.
- Payment of capital expenditures for replacements, additions and major repairs.
- Managing and reconciling bank and investment accounts for operating funds and reserves.
- Preparation of annual tax returns.
- Secure online access to financial records.
- Unit owners may pay condominium fees and assessments online.
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Administration
- Assistance in obtaining insurance and renewals.
- Preparing so-called 6(d) certificates and other documentation in connection with the sale and refinancing of units.
- Assistance in arranging financing of large capital expenditures which exceed reserves as an alternative to special assessments.
- Attendance at the unit owners’ annual meeting and any trustees’ meetings at which attendance might be helpful.
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Property Services
- Assistance in contracting for routine services such as cleaning, landscaping, and snow and ice removal.
- Assistance in contracting with utilities and granting access for repairs or replacements.
- Advice concerning property repairs, maintenance, renovations and larger projects, contracting for their performance and monitoring their progress and completion.
- Holding a duplicate set of keys to the property in an anonymous, numbered key system.
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Unit Owner Services
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