HOA Management
Professionals Inc. 706 West Broadway
Suite 204
Glendale, CA 91204
(tel) 818-240-6515
(fax) 818-240-0656
The following list is not all-inclusive,
but it gives a general picture of
the diversity of property management
activities that we conduct.
1)
Send
monthly assessment bill, which
includes return envelope and "comments"
section. Monthly bill details
current assessment, late fees
and/or legal fees, and special
assessments, which may include
fines.
Bills are in clients' hands well
before the first of each month.
2)
Receive
payment checks, post homeowners'
accounts and deposit funds directly
into bank of Homeowner Association
name.
3)
Receive,
review and pay vendor invoices.
Present invoices for vendor/contractor
services to the Board upon written
request.
4)
Prepare
monthly detailed financial statement
itemizing actual expenses versus
budget expenses. The financial
also includes cash flow statement
(showing where the cash is), balance
sheet (showing status of collection
of delinquencies) and check disbursement
register.
5)
Prepare
checks on association bank account
for payment of bills. Board may
co-sign checks if registered.
6)
Assist
Board of Directors in preparing
annual budget not later than sixty
(60) days prior to the end of
the fiscal year.
7)
Keep
all books and financial records
in accord with general accounting
principles.
8)
When units are sold, deliver
accurate statement of account
to escrow company, as well as
ALL documents of the Association.
9)
Solicit
bids for independent annual examination
of the book of association by CPA
if required and/or requested.
Be sure that the CPA is familiar
with condominium laws in order
that proper tax benefits will
be received.
10)
Ensure
that taxes are filed in a timely
manner, or be sure that proper
extensions have been filed.
