As most homeowners are not involved in the day-to-day operation of the Homeowners Association, they are often unaware of the large amount of work required of the Board of Directors. Because the Board consists of fellow homeowners who volunteer their time without compensation, a management company becomes its “right hand” in the administration of the Association and the carrying out of its directives.
The following services, provided by GW & Associates, Inc., are the day-to-day “intangibles” in running the Association to assist the Board of Directors.
Financial and Corporate Management Services
- Account for dues, fees, and special assessments and deposit accordingly;
- Disburse funds for the Association; review all invoices for accuracy and pay timely;
- Maintain and reconcile all bank accounts monthly;
- Furnish the Board with a monthly financial statement of income, an itemized list of disbursements, checking account balances, and list of homeowner delinquencies;
- Assist the Board in the preparation of an annual budget; and in long range planning to budget necessary reserves for large capital expenses to avoid special assessments;
- Prepare and file applicable annual Federal and State corporate tax returns (1120/1120H/1099). If requested, or assist auditor or tax accountant with same.
- Obtain required insurance and review policies for the coverage necessary to protect the Association and its Board of Directors;
- Maintain all office records and individual files for each owner and lot;
- Obtain, verify and maintain all required documents for transfers of title, re-sales, foreclosures and bankruptcies which impact the ownership records and financial assets of the Association;
- Insure that assessments are applied to foreclosures and bankruptcies to minimize the loss to the Association;
- Provide closing attorneys with verified statements and ledgers to insure new owners pay at closing the applicable outstanding assessments and other mandatory fees of the Association;
- Provide real estate agents and banks the necessary documents of the Associations (such as the Covenants, Insurance Declaration, etc.) needed for a proper and easy closing;
- Prepare documentation needed for attorneys, auditors, insurance personnel or accountants;
- Assist in the efficient procedure of and attend Board Meetings and the Annual Meeting;
- Assist in the establishment or amendment of Covenants, By-laws, and Rules and Regulations;
- Maintain annual registration of the Association with the Georgia Secretary of State.
Collection and Delinquency Service
- Review delinquencies each month and advise Board of the legal or other necessary action to remedy delinquencies and to collect funds due the Association;
- Act as liaison with the Association’s attorney for the remedy of all monies owed.
Community Standards Adherence & Management Service
- Assist the Board of Directors in their duty of preserving property values for all;
- Visit the community regularly and report to the Board of any non-compliance of the Covenants, By-Laws and Rules and Regulations;
- Notify homeowners, at the Board’s direction, of violations and corrective actions needed;
- Receive all Architectural Control Modification Requests and forward to ACC Committee for decision; write applicable letters to Homeowner with Board’s determination;
- Assist in planning and executing common area projects and maintenance;
- Obtain bids, negotiate, execute contracts and oversee vendors for all services provided by the Association to homeowners, such as landscaping, pool and other recreational facilities, common utilities, pest extermination, etc.;
- Maintain and oversee the maintenance and repair of common buildings, entrance ways, fences and equipment, as well as annual inventory of Association property and furnishings.
- Handle service requests and Homeowner issues and complaints
- Have a Association Manager accessible during business hours to all members of the
- Provide a twenty-four hour telephone number in case of emergencies.
For questions, contact Brandon Zsoldos firstname.lastname@example.org @ 678-407-6307 or