All Common Interest Developments are unique. That is why Collins Management Company offers a variety of custom service packages to meet your Association's needs.
Many smaller Associations lack the need or the resources for full time management services and opt for self-management. Although self management may be the cost effective choice, the inherent responsibilities involved with self management can be overwhelming to many Board of Directors.
Those responsibilities may include:
- Association law
- Accounting procedures
- Bid development
- Vendor relations
- Owner relations
- Facility management
- Risk management
- Community leadership
The broad scope of knowledge and experience needed to effectively run a Common Interest Development makes it very important that Boards seek some professional guidance and assistance to maneuver through these tricky subjects.
For this reason, Collins Management Company offers consultation services to Associations who want to manage themselves, but wisely seek professional advice for the more technical issues.
Remember, when you work with Collins Management you are working with an ensemble of knowledgeable and experienced lawyers, accountants, general contractors and other vendors that we have found to be exceptional in their respective fields.
The following outline should give you a better understanding of how Collins Management Company can assist your Board of directors in effectively running your Homeowners Association. We hope to meet with you and the entire Board to discuss the following items in greater detail.
- Initial Association Evaluation
- Assist Board to develop a system that will accurately and completely record Association business.
- Verify that a complete set of governing documents is on file.
- Verify that vendor contracts and proof of insurance certificates are on file.
- Verify that accounting systems and procedures are in compliance with generally accepted accounting procedures.
- Verify that your Association is carrying required insurance and has copies of all policies and proof of insurance from vendors. Assist the Board in limiting their risk exposure.
- Verify that Association is meeting all owner disclosure requirements including distribution of budgets, year ended financials, proof of insurance and alternate dispute resolution.
- Verify that all required reports (e.g. Reserve Study, Pro-Forma Budgets, Year Ended Financial statements, etc.) are on file.
- If any required materials are not present in Association files, we will assist Board in procuring missing documents.
- Review internal systems, including contracting, owner relations, declaration enforcement and maintenance programs.
- Review internal financial procedures, including assessment collection, disbursements, financial reporting, bankcards, reconciliations and budgeting.
- Review delinquent owner collection procedures.
- Assist Board in conducting Board meetings in a business like manner.
Collins Management Company will provide the Board of Directors with a comprehensive analysis of all components of the Association as well as recommendations on how to correct deficiencies in the operation of the Association.
Our goal is to empower the Board with the necessary information to effectively self manage their Common Interest development. After completion of the initial in-depth analysis, the Board may consult with Collins Management Company as needed.