| Professional Services |
Professional Services |
- Monthly Accounting
- Licensed Contractor
- Licensed Realtor
- Preventative Maintenance
Basic Service
Monticello Management's basic service includes the following:
Our programs are a commitment to both the goals and concerns of the owners, residents,
tenants and staff.
Accounting Services
Monticello Management's accounting systems are:
Our Basic Monthly Accounting Report consists of:
Budgets
The budget may be forecasted in three segments:
Because there are no "Miracles" in budgeting, Monticello Management works with the board and or its
respective committee on the annual budget based on the current year's spending, the wants and needs
of the board for the coming year and the forecasted economic climate.
Management-Transition Plan
Property Asset Management
Maintaining buildings and grounds is a planned program. The addition of a strong preventative
maintenance program can add years to many of the major mechanical components of an association
as well as its structural components.
At the inception of our contract, management will review the documents to determine the responsibility
of the maintenance and replacement of the following three segments of property:
Following the above determination, a maintenance plan will be formulated and put in place for each
segment.
Rents and Assessments
Monticello Management offers a number of methods for billing and collecting rents/assessments:
Billing Methods:
Payment Methods:
*Reserves or Replacement Funds
Closely related to the Operating Budget is the development of a Reserve Budget. The Reserve
Budget is specifically designed to fund for the long-term care and replacement of the common
property's Major Capital Components.
*Reserves are those funds set aside on a regular basis for the maintenance and repair or
replacement of major common and limited common elements such as the building envelope
and mechanical systems.
Risk Management/Insurance
All associations face exposure to loss in four areas:
Many associations rely solely on basic insurance requirements, noted in their documents, to
deal with the possible adverse consequences of a loss in these four areas. This basic insurance
may not provide adequate coverage since it may be outdated or limited in scope. Management will
review the current coverage and discuss have the board's agent or another review.
Sales and Rental of Units
Management will coordinate the sale of units as well as rental of units for the association including
the review of applicants and maintenance of appropriate rental and leasing levels.
Emergencies 24/7
Monticello Management maintains a twenty-four (24) hour, seven (7) day per week
emergency contact program with the association property manager.
Service requests, questions asked and billing requests may be made online at
anytime and will be responded to within twenty-four (24) hours or sooner.
Monticello Management's basic service includes the following:
- Professional Property Management,
- Customer Service 24/7 (telephone and email),
- Regular Site Inspections,
- Attendance at Board/Owner Meetings,
- Monthly Financial and Management Reporting,
- Preparation and Recommendation of the Annual
- and or any Basic Project Budget,
- Preventative Maintenance Plans,
- Rental, Lease and Closing Services,
- Arrears Collection,
- Administration of the Day to Day Services,
- Administration of the Rules & Regulations,
- Assistance with Insurance, Legal and Auditing Matters.
Our programs are a commitment to both the goals and concerns of the owners, residents,
tenants and staff.
Accounting Services
Monticello Management's accounting systems are:
- Updated annually (both with the State/Federal Government's rates and regulations),
- Fully integrated with the various banking institutions our clients choose to use,
- Allow for current up to the minute financial data,
- Enables board members to access the Association's bank accounts online,
- Enables residents and shareholders to login and access their account information.
Our Basic Monthly Accounting Report consists of:
- Balance Sheet,
- Bank Reconciliations - with their respective bank statements and canceled checks,
- Arrears Report,
- Open Payables Report,
- Pre-paid Maintenance Report,
- Monthly Profit and Loss vs. Budget Report,
- Monthly Check Register.
Budgets
The budget may be forecasted in three segments:
- Operating Segment,
- Deferred Maintenance Segment,
- Reserve Segment.
Because there are no "Miracles" in budgeting, Monticello Management works with the board and or its
respective committee on the annual budget based on the current year's spending, the wants and needs
of the board for the coming year and the forecasted economic climate.
Management-Transition Plan
- The Transition Plan is constructed in the spirit of minimizing the disturbance to the owners,
- Assuring that all relevant data is properly transferred,
- Management will notify Unit Owners/Shareholders and vendors of the change in management.
Property Asset Management
Maintaining buildings and grounds is a planned program. The addition of a strong preventative
maintenance program can add years to many of the major mechanical components of an association
as well as its structural components.
At the inception of our contract, management will review the documents to determine the responsibility
of the maintenance and replacement of the following three segments of property:
- General Common Elements
- Limited Common Elements
- Owner's Unit/Property
Following the above determination, a maintenance plan will be formulated and put in place for each
segment.
Rents and Assessments
Monticello Management offers a number of methods for billing and collecting rents/assessments:
Billing Methods:
- Annual, Semi Annual or Quarterly,
- Coupon Books,
- Mailed Invoices,
- Emailed Invoices.
Payment Methods:
- Automatic Payments Withdrawal (free of charge to owners and association),
- Credit Card Payments,
- Check Payments,
- Cash Payments,
- Online Payments,
- Lock box Payments,
- Third Party Payments.
*Reserves or Replacement Funds
Closely related to the Operating Budget is the development of a Reserve Budget. The Reserve
Budget is specifically designed to fund for the long-term care and replacement of the common
property's Major Capital Components.
*Reserves are those funds set aside on a regular basis for the maintenance and repair or
replacement of major common and limited common elements such as the building envelope
and mechanical systems.
Risk Management/Insurance
All associations face exposure to loss in four areas:
- property,
- liability,
- net income,
- and personnel (whether staff, contractors, or volunteers).
Many associations rely solely on basic insurance requirements, noted in their documents, to
deal with the possible adverse consequences of a loss in these four areas. This basic insurance
may not provide adequate coverage since it may be outdated or limited in scope. Management will
review the current coverage and discuss have the board's agent or another review.
Sales and Rental of Units
Management will coordinate the sale of units as well as rental of units for the association including
the review of applicants and maintenance of appropriate rental and leasing levels.
- Working with Contractors
All communities work with contractors. Working with contractors involves
assuming risk and represents an opportunity to negotiate pricing and
warranties. Once the Board selects its contractor/winning bid the exact language
of the contract must be crafted (including warranties) to protect the
association in the long run as well as to manage the transfer and control of the
risk created.
- Management, working closely with counsel, will make sure that the proper
contracts are drafted to protect the Association and that the proper insurance is
in place.
Emergencies 24/7
Monticello Management maintains a twenty-four (24) hour, seven (7) day per week
emergency contact program with the association property manager.
Service requests, questions asked and billing requests may be made online at
anytime and will be responded to within twenty-four (24) hours or sooner.
= Annual Budget
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