Property Management Standards – Farmington valley real estate, Farmington valley realtor, top realtor Farmington valley
The annual budget will be drafted 30-60 days prior to the end of the fiscal year, unless your needs require a more personalized timeframe.
The budget will have a detailed explanation of each line item. We will ensure that this will be easy to follow even if you have not seen our previous report.
Monthly statements will be carefully reviewed by your manager each month before they are sent to the clients. Statements will be provided to clients consistently at the direction of the board.
We at Santa Realty, feel that it is imperative to meet once a month so that our levels of communications continue to excel and we are able to make decisions as a group. The manager will devote sufficient time to prepare for the meeting to stay on task and to address any known issues.mnagers will take notes at each meeting to provide a synopsis of the meeting to to all people in attendance within the week, with action items and resolution detailed. Items that require immediate action will be addressed within 48 hours.
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A summary report of the previous board meeting will be included in each board meeting handout.We will stay consistent in all handout formats so that each meeting can be as effective as possible.
Our managers will visit the premises at least once per week, looking for items that are in need of repair or preventative maintenance. They will also ensure that any items that are not supposed to be in common areas are reported on.
Our managers will do complete a complete walk through of the community with board representatives once or twice annually in order to create a mutual understanding of all general maintenance needs.
Managers will maintain the utmost level or professionalism with homeowners and be efficient in all service requests. Our goal is to respond to all calls within 24 hours,with a course of action and a proposal within 5 business days.
Purchase order will be used for all superintendent related purchases. If purchase orders are not used, receipts and detailed records with line items will be used.
Our managers need to approve each invoice or purchase. This will be in writing,unless in cases where an authorization needs to be made over the phone in an emergency. In this situation, a notation will be made when preparing the invoice and reporting the line item within the budget.
Written bid specifications will be used for work that is considered substantial.The contracts will also have appropriate specifications.
Contracts with a value greater than $500, shall be signed by the board.
Insurance certificates will be required and filed for every contractor in advance of their work performed. Managers will maintain current certificates for contractors within our network.
Managers will require Workers Compensation coverage any time more than one person is performing work on the premises.
Other Administrative Responsibilities
Annual reports will be filed with the Board Client insurance coverage will be understood and kept in place. Boards will be apprised of expiration in order to allow for re-bidding if the board would like to go back out to bid.
Boards will be apprised of the need for an audit and filing of tax returns.
Managers will offer the preparation of a long term capital preservation plan to each client within one year of our retention.
After hours Emergencies
- Managers are available 24 hours per day, 365 days a year.
Manager will alert board if projects could potentially create an asbestos disturbance so that Santa Realty can recommend the appropriate preventative course of action.
Manager will remind boards that Santa Realty cannot oversee the compliance responsibilities for an associations environmental hazards.
Manager will recommend that board hire an EPA-certified consultant to perform and asbestos survey in advance so that the board can know in advance if there us asbestos within the community.
Manager will take reasonable steps to determine if there are underground storage tanks on the premises. If there are, managers will make this known to the board and can advise on the necessary action
Phone calls will be returned the day they are received and as soon as physically possible.
Written correspondence will be acknowledged quickly. Emailed correspondence will be acknowledged even quicker.
Managers will make effective use of their voice mail and email