Association Management

A property manager will be assigned specific responsibilities for the supervision of the management plan at your Association. In addition to coordinating all on-site and home office management functions, he/she will personally inspect the property on a regular basis and will meet on a regular schedule with the Board of Directors. The property manager shall coordinate all activities with at least one designated member of the Board of Directors.

We will implement an on-going, closely monitored management program for the property. Included in this plan are the following:

• Preparation of annual operating budget based upon facts and figures which have been substantiated by the available past data, information and competitive bids. This budget will be submitted to the Board no later than November 15th of each year for their approval, or at a date selected by the Board.
• Monthly Owners' Report. Monthly preparation and distribution of statement of cash receipts and disbursements to be submitted by the 15th of the following month containing necessary documentation for prudent evaluation by the Board. All computer costs relative to this report are to be borne by Gerson Realty & Management Company, Inc. All accounting to be performed in accordance with acceptable accounting practices.
• To prepare and file all payroll reports as required by law. Our responsibility includes Association employees as well as Gerson Realty employees.
• Bank Account. Maintain a trust account in an institution insured by a Federal Agency, in a manner to indicate the custodial nature there-of, for the deposit of the monies of the Association and to draw there on for any payments to be made by the Association.
• Accounts Receivable. Every possible effort will be utilized to collect fees from homeowners. All collection efforts will be handled in a professional manner. The managing agent shall furnish to the Board an updated delinquency list on a monthly basis. The managing agent will implement the Board's directive in pursuing serious delinquent situations.
• Insurance. Recommend insurance coverage, prepare and secure bids, and with the approval of the Board of Directors, place all insurance coverage necessary for the property.
• Meetings. Attend specified meetings of the Board of Directors and annual meetings of the Association, up to 2.5 hours, thereafter at our hourly professional rate; prepare and mail all notices, proxies, ballots and agendas. The cost of mass mailings to be borne by the Association.
• Taxes. Maintain all records and documentation required by federal, state, and local governmental agencies.
• Engineering and Preventive Maintenance. It will be necessary to establish preventive maintenance schedules and inspections covering all items of equipment included in the common areas.
• To assist the Association in zoning or land use matters, to employ and cooperate with counsel, under the direction of the Board.
• To initiate, at the request of the Board, all federal, state, and local tax returns. The cost of this accounting function to be borne by the Association. Any taxes owed would be at the Associations expense.
• Accounts Payable. This is to be done by Gerson Realty & Management Company, Inc. accounting personnel. Invoices are to be paid promptly and advantage will be taken of discounts for promptness. Checks for all items will require a signature of an officer of the association as well as an officer of Gerson Realty.
• Gerson Realty & Management Company, Inc will be responsible for maintaining complete personnel files and maintenance and identification of all files pertaining to property of the Association.
• To initiate, at the request of the Board, a Certified Audit of the Monthly Reports to be completed within 90 days of the end of the fiscal year. Gerson Realty & Management Company, Inc. and the Board of Directors will be responsible for selection of the Certified Public Accountant hired for this annual audit.
• Maintenance. Maintain common elements in accordance with acceptable standards, using current maintenance employees.
• Contract Services. All contracts will be solicited from written specifications. The merits of each bid will be carefully weighted and submitted to the Board.

Gerson Realty & Management Company, Inc. provides a total "package" in association management. We know we can provide the quality of service, which you and the other owners demand. Our monthly fee is an all-inclusive fee, including such costs as postage, envelopes, etc. We sincerely desire the opportunity to manage your community and feel that the quality and service of our company meets the highest and best professional standards in the industry.