Name Your Fee Management

Associated Property Management (APM) is pleased to announce its new “Name Your Fee Property Management™” program.  This program is designed to help community associations to lower their overhead and operating expenses, while providing good, sound and efficient property management services to their member residents.   As the economy and the mortgage crisis continues, community associations in Palm Beach County are coming under increasing pressure to lower operating expenses in order to balance and offset lower operating incomes.  Boards of Directors know their budget constraints better than anyone as they have to deal with these cash flow problems every day.  Now there is a solution to the Board of Directors’ budget problems as they will be pleased to know that they can now have “Name Your Fee Property Management™" by Associated Property Management (APM).  “Name Your Fee Property Management™” allows a Board to set their management fee price based on their association’s current budget and future budget constraints.  APM will in turn provide that association with an estimate of the type and amount of services that the association’s projected management fee will provide.   It is believed that the “Name Your Fee Property Management™" program allows an association to pay exactly for what they require in terms of service and no more.  This program also provides a Board to tailor their association management needs to a specific price that is flexible based on their income and expenses.

Everything But A Manager

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 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 on an umlinted basis. 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:  Receive invoices, verify, code and produce laser checks for Board signatures and mail same to Vendors.
• 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 1^st 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.

Pro Bono Management

In an effort to help and give back to the community, Associated Property Management (APM) has decided to provide Pro Bono (free) Management Assistance to small (up to 50 units in size) community associations in Palm Beach County.  In order to qualify for this program Associations will need to demonstrate that they are in distress and in need of assistance beyond what is considered normal.  APM will provide management assistance to these associations that qualify that will consist of free bookkeeping and collection services, free administrative services, free community website and free unlimited management consulting services for one year from all staff members of APM.  (The association will reimburse APM for copies, envelopes and postage.)  Pro Bono Management Assistance by APM will provide an association with some relief from the current foreclosure crisis which has hit associations in Palm Beach County extremely hard.  Most associations, no matter what their size, have experienced lower than budgeted operating incomes, higher collection costs, and in many cases, have had to have special assessments to make up for these cash flow problems.  Smaller associations, based on higher percentages, are experiencing even more difficulty than larger associations when an owner stops paying their assessments.  High delinquencies put a severe financial strain on an association and its owners who are paying their assessments.  Pro Bono Management Assistance by APM should help those associations that need to reduce their overhead in order to combat lower incomes.   Contact Associated Property Management (APM) for further information on this program and how your community association may qualify.  They may be reached at 561-588-7210 or by email at apmnews@assocpropmgt.com