Presently, Associated Property Management (APM) provides accounting and administrative services to more than 60 “Self Managed” community associations throughout Palm Beach County. APM originally started as a company that provided bookkeeping services to self managed associations. As the years have gone by we have added more and more components to our services for self managed associations. Today, we provide “Everything But A Property Manager” to our self managed clients. As always, the Officers of APM are available to the Board Members at any time to discuss association problems.
The following is a brief outline of just what we provide day in and day out to our clients who are self managed;
Self Management Services
- Accounts Payable: Online Accounts Payable Lockbox. Receive invoices, verify, code and produce checks for Board approval right online.
- Accounts Receivable: Bill, collect and deposit all maintenance assessments, including late charges and interest penalties into Association’s operating account through our Lockbox System. Make further deposits for miscellaneous income such as, clubhouse rentals, resales and rental application fees and lost keys, etc., and credit the proper accounts.
- Affidavits: APM will research and produce official affidavits for Proof of Notices or Mailings. Also, affidavits are produced for closing agents for a Unit Owner’s payment history.
- Agendas: Produce, write and post Meeting Agendas as required by Chapters 720, 719 and 718.
- Amendments: Assist the Board of Directors, along with the Association’s attorney in securing Amendments to the Documents.
- Annual Meetings: Annual Meeting Notices and mailings will be coordinated by APM which will include scheduling, Agendas, Notices, Proxies, Voting Certificates and Affidavits of Mailings in compliance with Chapters 720, 719 and 718.
- Annual Reports: Revise and report all changes to the Annual Corporate Reports for the May 1st deadline.
- Applications: Administer, distribute, file, produce applications for alterations, clubhouse reservations, hurricane shutters, improvements, rentals, resales, etc.
- Approvals: Follow Board of Directors and Document procedures in administering and coordinating the approval process for rentals and resales. Prior to the commencement of the approval process all maintenance fees will be verified to see if the Unit Owner is paid in full.
- Budgets & Budget Meetings: Formulate and prepare preliminary and final budgets for the Board of Directors’ review and coordinate the Budget Meeting.
- Certificates of Approval: APM will coordinate and issue Certificates of Approval for the Board to execute when the buyer has been approved and the following conditions have been met: 1. All maintenance fees, late fees and penalties have been paid as of the date of closing; 2. All fines on violations have been paid; 3. All application processing fees have been paid; 4. All legal fees have been paid on any violations, fines or unpaid assessments; 5. Buyer has been approved.
- Credit Card Payments: APM has the ability to accept credit card payments at no additional cost to the association as an alternative to owner payment processing.
- Consulting on Procedures: As part of the monthly fee, APM will be available to provide guidance to the Board of Directors on procedures, operations and special problems.
- Copies: APM will make copies for the Association of all incoming and outgoing documents on the Association’s behalf in addition to being made for a Master Document Storage system to ensure complete records for the Association.
- Correspondence: APM can produce or coordinate all of the Association’s official correspondence on a per page basis. All incoming mail will be date stamped and all outgoing mail will be filed according to subject matter and also copied into a master correspondence file for safekeeping.
- Delinquent Lists: Provide to the Board an up-to-date delinquent list with the completed financial statement and also for the Board of Directors Meetings. Additional delinquent lists can be secured at any time.
- Demand Letters: Send demand letters either at the direction of the Board of Directors or by Board Resolution for past due maintenance assessments or fines.
- Financial Statements: Prepare monthly/quarterly financial statements including Balance Sheet, Income/Expense Statement, General Ledger Detail, Trial Balance, Accounts Receivable Report and Aged Report.
- Income Taxes: APM will provide to and coordinate with the Association’s CPA in the filing of the Association’s State and Federal income taxes.
- Late Letters: Send late letters or reminder notices to delinquent Unit Owners according to the Association’s documents or by Board Resolution.
- Liens: Provide to the Association’s Attorney or Collection Agency all proper documentation, back-up and coordination in filing liens on behalf of the Association. All Owner accounts are flagged in order to ensure that the collection process is complete.
- Mass Mailings: Any mass mailings, notices and newsletters can be produced, coordinated, printed and mailed by APM.
- Notary: APM will provide notary services to its clients at no additional charge.
- Proxies: Produce and provide Limited Proxies for meetings as required by Chapters 720, 719 and 718.
- Rental & Resale Approvals: Track for the official records all rental and resale approvals according to the Board of Directors’ direction in the database.
- Reserve Transfers: Make automatic transfers from the Operating Account to the designated Reserve Bank Accounts upon the first of each month and properly account for same.
- Review Audits: Provide to the Association’s Auditor the complete facilities, record keeping, back-up and personnel to perform an Audit or Review of the Association’s Books according to the Association’s By-Laws.
- Roster of Unit Owners & Tenants: Maintain roster of unit owners, tenants, second addresses and telephone numbers. Our system also tracks previous owners as well.
- Special Assessments: Coordinate, bill, collect, monitor and account properly any Special Assessments that the Association may have throughout the year.
- State Reports: Receive, process and file all state reports such as Annual Reports, Fee Reports and Department of Revenue questionnaires.
- Storage of Files: Provide storage of Association files.
- Telephone Calls: Receive and handle all Association telephone calls efficiently during normal business hours.
- Updates to Law: APM will provide to its Board member clients all changes and amendments to Chapters 720, 719 and 718 as they become available.