Controls that Provide Protection
Our monthly financial reports are designed to provide information in an easy-to understand format. We pride ourselves on financial transparency as well as strict controls that offer full disclosure and protections to all interested parties. All invoices must be approved by a building’s property manager and checks require two signatures: our President and our Chief Financial Officer.
Long-Range Financial Planning
Long-range financial planning is critical to the stability of a cooperative corporation or condominium association. By anticipating future expenses and establishing a plan to pay for them, we can help groups avoid large maintenance increases or special assessments.
Tax Abatement and Exemptions
As the managing agent, we actively pursue tax abatements, exemptions, and other government-sponsored initiatives. We handle the entire process for our clients, from filing to completion.
Our property managers take an active role in preparing each building’s annual budget as part of both short- and long- term financial plans. The annual budgeting process starts early to allow sufficient time for the board members and property managers to complete their discussions and make any needed budget revisions before year’s end. In addition to projecting normal operating expenses, we work closely with boards to identify potential one-time expenses.
We perform an annual review of each property’s insurance coverage and premiums. Our goal is to negotiate the best coverage available for the least cost by bidding the insurance for each building separately.
Document Management System/Compliance
Our document management system serves as resource and key tool for both property managers and Board. This comprehensive library stores your foundation documents, contracts, insurance, legal documents, leases, mortgages, polices and fees. Site-Comply is the company that we utilize for the management of buildings’ compliance, violations