- Send monthly assessment bill, which includes return envelope and monthly bill details such as current/ special assessments, late fees and/or legal fees.
- Receive payment checks, post to homeowners’ accounts and deposit funds directly into bank account of Homeowners Association.
- Receive, review and pay vendor invoices. Present invoices of vendors/contractors serviced to the Board upon written request.
- Prepare monthly detailed financial statements. The financials include at least the following: A Balance sheet (showing status of collection of delinquencies) and check disbursement register.
- Prepare checks on association bank account for payment of bills. Board may co-sign checks if registered.
- Assist Board of Directors in preparing annual budget for every fiscal year.
- Keep all books and financial records in accordance with (GAAP) Generally Accepted Accounting Principles
- When units are sold, deliver accurate HOA Certification to Escrow Company, as well as all documents of the Association.
- Solicit bids for independent annual examination of the book of the association by CPA if required and/or requested.
- Ensure that taxes are filed in a timely manner, or be sure that proper extensions have been filed.
- We have direct relationships with attorneys and we will initiate any necessary case for any delinquent HOA dues, and go through the entire process until all issues are resolved.
One of the services included in our management package is conducting walkthroughs. During our walkthrough, we will pay close attention to any component of the building that does not appear to be up to par. We also send contractors and/or inspectors to the building for a more formal inspection and observation if needed. Wall Street HOA acts proactively with all maintenance issues. We conduct preventative maintenance in order to try to save costly repairs in the future. Call us today for a free analysis and a strategic maintenance plan for your property.