Operating a community association is a complicated job requiring a professional approach. This presentation was designed to familiarize you with Parkside. We feel confident that we can provide the necessary financial, physical and administrative expertise that each association member expects and certainly deserves.
Parkside Management will service your association in three basic areas: financial management, physical management and administration. The activities outlined below will safeguard the assets and maintain the integrity of the income stream.
• Financial Management
• Physical Management
• Administration
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Financial Management
• Budget
No community can function without a proper budget and financial plan. We will prepare a complete budget which best consolidates the needs of the Association with the level of service which it can afford. In preparing the budget, we will provide the Board with options, where applicable, and their comparative cost.
• Accounts Receivable
Primarily this involves the collection and accounting for all assessments and maintenance fees. Association members will be furnished with either payment coupons or a monthly statement of account. We will provide the Board monthly (or upon an agreed upon schedule) with a delinquency list.
• Accounts Payable
All bills of the Association will be paid from the management office. We maintain complete financial records for each corporation and they will be available for review upon request.
• Financial Reports
A complete financial report will be prepared on a monthly basis. It will include an Operating Statement with both monthly and year-to-date figures, a Balance Sheet, a Disbursements Listing, an Accounts Payable Listing, and reconciled Bank Account Statements. This report will provide the financial data needed for adequate decisions to be made.
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Physical Management
• Maintenance
The Board will establish a policy regarding maintenance and landscaping. These established requirements will be accomplished by qualified subcontractors or by on-side personnel who will be under the supervision of the management company.
• Emergency Answering Service
Parkside maintains a 24-hour answering service to receive any after hours emergency notifications.
• Communications
The property manager will make on-site visits at which time s/he will be available, if requested, to meet with the designated representative to discuss specific problems. We are, of course, also available by telephone and e-mail during regular business hours.
• Physical Controls
A system of work orders and purchase orders may be implemented to insure proper follow through
on maintenance requests.
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Administration
• Clerical
Our staff will assist, as necessary, in keeping the non-financial records of the Association. We can provide clerical assistance for correspondence and notices for your Board. This could include problems related to Rules and Regulations enforcement.
• Contracts
Where time permits, all major work will be handled under the competitive bid system. Bids and recommendations will be presented to your Board for approval.
• Insurance
When authorized by the Board, we will cause placement of all policies necessary to provide property coverage for your Association. We will promptly investigate and report any and all claims to the insurance company and to the Board.
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