Condominium Management
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Condominium Management Services OverviewAt Shawmut Property Management, we strive to provide the highest level of management available. In doing so, we’ve established an elegant level of infrastructure aimed at giving our clients what they want when they want it. Our proprietary management software is state of the art and provides financial reports with greater detail, while allowing Board members unlimited access to records. The following services are included in our monthly fee, however we can also offer a variety of specialized management functions to suit your needs.
Financial Management OverviewEach month the Board will receive detailed financial reports outlining all of the financial activity at the association. In the report are delinquency tracking and payment updates.
Monthly Financial Reports:
- Balance Sheet
- Profit and Loss with variance
- Detailed General Ledger upto 25 accounts
- Cash Flow Report
- Projected Payables
- Delinquency Report
- Check Register
- Fully Reconciled Bank Statements
Budgeting – A detailed annual budget is central to successful financial management. Shawmut will review prior year actual expense with current performance to establish a budget that is both fiscally responsible and will properly address outstanding concerns based on a needs assessment.
Operations – Shawmut uses a proprietary, state of the art accounting software system designed to give a greater level of detail into income and expenses.
Accounts Payable – Shawmut maintains a superior A/P system that ensures your vendors are paid in a timely fashion and in conjunction with any applicable contracts.
Taxes – We will assist the association in auditing the financial records and providing a tax return each year.
Site and Maintenance ManagementYour property value is directly tied to the appearance of the common areas. At Shawmut, we strive to implement effective maintenance programs designed to maximize appearance and minimize cost impact. Shawmut will implement controls to ensure work is completed correctly and efficiently.
- Maintenance Programs – Programs will be initiated with the current budget and needs assessment in mind. Outside vendors will be used as appropriate. The Board will be notified via frequent updates as to the status of on-going maintenance.
- Inspections – Each maintenance program will be implemented with industry benchmarks and will be frequently audited to ensure delivery of goods. The site manager will perform frequent site inspections to review progress
Administrative ManagementAdministrative management is central to the implementation of effective communication programs, homeowner and Board meetings, and to process special assessment and condo fee billing.
- Meetings – We will plan, coordinate and schedule Board and Homeowner meetings.
- Homeowner conflict resolution – Shawmut has a set of escalation policies and will inform the Board of each compliant and a recommendation on resolution.
- Legal and collection – Shawmut will pursue outstanding receivables and assist the Board in any legal proceedings. Court appearances and collection letters are a additional fee.
- Communications – Shawmut will handle all communication to the homeowners. We have the ability to send a voicemail to each unit owner at your site!
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