ASSOCIATION MANAGEMENT for Residential and Commercial Condominiums

ESSTEE specializes in condominium and homeowner associations.  With every association, we work diligently to meet the specific needs of each community and its board of directors.

Following are typical association services offered.

FINANCIAL SERVICES

Operating statements are prepared on a cash basis unless accrual is requested. Monthly statements are distributed to board members, including a balance sheet, year-to-date budget comparison, general ledger, delinquency, and unpaid bills. In addition to the Board’s review of financials, ESSTEE strongly recommends a formal audit or review be performed on an annual basis by a third-party chosen by the Association. Bank accounts bearing the name of the Association are established. Typically each association has a checking account for operating funds and a savings account for reserves. For each assessment, statements are mailed to residents prior to due date and reminders are mailed monthly to residents with an outstanding balance. Delinquent accounts are handled in accordance with board policy, with recommendations from ESSTEE. Acceptable forms of payment are check, money order, or certified funds made payable to the Association. Payables are processed as received, with payments distributed to vendors and suppliers at least twice a month.

ADMINSTRATIVE AND MAINTENANCE SERVICES

As requested, closing documentation regarding assessments and balances is provided to real estate agents and title companies when homes are bought/sold. Each year, the state of Michigan requires an updated non-profit incorporation form be filed. Covenant (bylaws) enforcement is addressed in accordance with the Association documents. Construction/alteration requests are reviewed and presented to the Board/Committee. ESSTEE is notified of violations by members of the Association. Requests and violations are addressed directly by ESSTEE or summarized for Board review. Board decisions are communicated through ESSTEE. The property manager attends and coordinates meetings. The annual Association meeting is coordinated with the Board. Regular board meetings are attended as necessary. Special communications, such as newsletters or mailings to residents, are sent on an “as-requested by the Board” basis. All insurance claims processing is coordinated by ESSTEE, as the policy permits. Coverage, deductibles, and claims are reviewed with the agency annually. Competitive quotes are evaluated every three years.

For special projects and seasonal contracts, at least two bids are analyzed prior to making recommendations to the board or committee. All questions/concerns from residents/vendors are addressed by ESSTEE. For emergency services, we are available 24 hours a day.

For additional information, please contact Sheri Holstege at esstee@essteeinc.com or 616.392.6480.

M o r e   i n f o