Property Mgmt Std Services or RFP

You could use my following portfolio of services to guide you in preparing a RFP.

We provide HOA property management services which are tailored to your specific needs. We suggest you start with all of the Accounting Services and add from the menu of Additional Services (and any others that you desire).

Accounting Services

Accounting
 Maintain records in accordance with generally accepted accounting procedures (GAPP).
 Maintain records electronically and create hard copies monthly; file monthly and by year.
 Provide understandable, management style financials, including a monthly cash flow/budget chart, balance sheet, income statement, and accounts receivable report.

Accounts Payable
 Receive invoices due and payable by the Association, verify accuracy, prepare checks, and provide with supporting documents for check signatures.

Accounts Receivable
 Invoice homeowners, receive and record payments.

Banking
 Deposit funds in the Association’s accounts and reconcile bank statements monthly.
 Provide bank statements for quarterly financial review.
 DARCO Agents will not sign checks - we refuse to have access to your funds in any manner.

Corporation
 Maintain the Association’s active Colorado Corporation status as the registered Agent.
 Maintain a list of the Association members by names and addresses.
 Provide status letters and other required documents for property sales.

Tax Preparation,
 Assist in completing IRS form 1120-H and Colorado form 1112, at no charge.

Additional Services

Corporation
 Provide support to Board members to carry out their fiduciary responsibilities. This includes guidance on Colorado statutes, Corporation regulations, and IRS regulations.
 Maintain Association documents and provide access to records by members.

Accounts Receivable
 Manage delinquent accounts.
 File Notice of Lien and Release of Lien in accordance with Colorado statutes.

Banking
 Manage Operating and Reserve accounts in compliance with IRS guidelines.
 Provide information on investments to maximize yield with desired safety and liquidity.

Covenant Compliance
 Conduct weekly onsite inspection for violations and problems.
 Issue violation notices in compliance with Colorado statutes.
 Coordinate with the Architectural Review Committee.

Meetings
 Attend Board meetings and provide guidance to the Board on any items they desire. Submit an itemized activity report.
 Provide notice of Annual Meeting, agenda, proxy, budgets, and sign-in registry.
 Provide Board packets, facilitate meetings, record minutes, parliamentarian, etc.

Communications
 Provide 24/7 telephone, cell phone, answering service, fax, email, U.S. mail, and web site design and maintenance.
 Prepare and send correspondence.
 Provide a quarterly newsletter and an annual directory.
 Personally welcome new owners and provide a new owners packet.

Contractors
 Maintain list of quality contractors; solicit bids using a detailed request for proposal (RFP); scrutinize bids, contracts, and contractor insurance then present contracts to Board for consideration
 Coordinate contractor activities and monitor their work.

Insurance
 Annually review insurance coverage and recommend changes as needed.

Insurance / Attorneys / Financial review
 Provide liaison with attorneys, insurance claims, and financial reviews.

Update Association Documents
 Update the 20 year Reserve plan in accordance with IRS guidelines.
 Review controlling documents. Declaration, Articles of Incorporation, Bylaws, and Rules and Regulations.
(The Declaration, Bylaws and Rules and Regulations may need to be updated and the Articles of Incorporation may need to be amended to provide better protection to Board members.)
 Draft proposed amendments to the controlling documents.
 Review Architectural modifications procedures and draft changes, as needed.
 Assist in achieving approval of amendments
 File amended documents with the appropriate agency.

I have found this to be an excellent resource

http://www.associationtimes.com/index.htm