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Residential Association Services

Presented by Russell Quick, Broker for Russell Quick Co., Inc.

The following is a general description of the services I provide.

 

·         Take calls or e-mails through the web site from owners for problems and call the appropriate workmen to take care of the situation.

·         Collect funds for association and make timely deposits.

·         Make all payments on vendor accounts. All checks written on behalf of the Association are presented to the Association for signature along with a copy of the invoice being paid.

·         All of my accounts are currently at Republic Bank and would prefer any new accounts be there. Signatures of the checks can be yours alone or a two signature account with my signature being one of them when necessary.

·         The bank statements will be sent to the association for own reconciliation.

·         I do not bill the owners for fees on associations I manage due to having to send out so many notices that the postage costs would be exorbitant, but I can do so.

·         All Board Members are welcome to call me at any time to discuss any maintenance or management problems they may discover.

·         I have maintenance personnel, though not my employees, who work for me on a regular basis. One of my maintenance men always gets good compliments for the quality of his work and mostly for his cleanup upon completion of the job.

·         However, if you have any contractors that you have used regularly that you are satisfied with; I will employ them as necessary.

·         I provide my own supplies except stamps which I bill back to the association.

·         I will attend any association meetings when there is not a conflict.

·         I try to provide a personal service for Associations I manage.

·         I have an attorney that works with Associations that I use, but again if you have one you prefer that will work fine.

·         I do not take kickbacks from any vendors I may have lined up for maintenance work. Whatever the charge is, that is what will be paid.

·         I do charge a $250.00 set up fee as setting up a new Association takes a lot of time.

·         Pricing of my services is available upon meeting to discuss your management.

MONTHLY MANAGEMENT REPORT

·         This report to be presented to Association by the 15th day of each month. It will be e-mailed to the Board of Directors as soon as available and a hard copy delivered at same. Payment of my services comes with the completed report.

·         Cover sheet identifying association and date of report.

·         Monthly Income Statement with Budget.

·         Monthly Income Statement including previous year comparison after completion of first year of management.

·         Monthly Income Statement with percentages of income and expenses as related to totals.

·         Monthly Balance Sheet showing balance of assets and liabilities.

·         General Ledger. Details all entries made for the month.

·         General Journal. Listing of all General Journal Entries required during the period.

·         Purchase Journal. Shows list of all purchases made during the month.

·         Check Register. Shows list of all checks written during the monthly including vendor’s name, date and check number.

·         Cash Disbursement Journal. Shows all invoices paid during the period.

·         Cash Receipts Journal. Shows a list of all receipts for the month and from whom.

·         Aged Receivables. Shows receivables due for 30-60 and over 90 days.

·         Account Reconciliation. A report showing the reconciliation of the bank balance to the book balance.

·         Bank statements will be included to verify all checks that cleared bank and to verify with the bank reconciliation.

·         Deposits. A form showing all daily deposits to bank account and the bank deposit receipt attached.

·         I prepare budgets for the upcoming years generally available by the end of October of the preceding year.

·         I have a CPA firm that I use to audit the records each year as required by law. You may have one you prefer which is acceptable to me.

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