Condo Management Services

Mulloy Properties, LLC will be responsible for all community relations, communications with owners and Board of Directors, files and record keeping. We will coordinate the Condominium Association’s business functions, legal functions, financial functions and all maintenance work. Additional Management services include:

Bookkeeping:

Accounts receivable/payable, collection of maintenance fees, assessment of late charges or NSF fees, checkbook style accounting software, transfers between operating fund and reserve fund, homeowner reimbursements.

Legal:

Through an approved attorney, coordinate corporate reports and agent of service, filing liens, enforcement of Master Deed, Rules and Regulations, litigation (providing information/documentation, depositions, testimony, etc.)

Maintaining Files:

Current homeowner files, contractor files, contracts, liability insurance, invoices/paid receipts, maintain a master list of all unit owners.

Insurance:

Communication with insurance agent, file claims for losses & follow-up documentation of incidents that might involve claims or losses, collections, delinquent condo fees, late notices, late fees, second notices, lien letters, filing of liens, foreclosure suits, assist in the selection of an insurance agency, maintaining files of all individual homeowner’s insurance policies, and enforcement of association by-laws.

Financial Reporting:

Provide monthly reports to the Board of Directors, account balances, current and year-to-date delinquencies, and monthly operating statement and cash flow statement utilizing Peachtree Accounting Software.

Annual Reports:

(Auditor and Annual Homeowner Meeting) Provide year-end operating statement and balance sheet

Annual Operating Budget:

Revise drafts as needed

Enforcement of Master Deed and Rules & Regulations:

Review written and verbal complaints, write warning letters, discuss continuing violations with Board of Directors, record complaints and documentation in Homeowner files.

Communications with Homeowners/Residents:

Maintenance notices written and distributed, letters and calls responding to questions and requests, monthly updating of phone lists, special notices as necessary.

Maintenance Oversight and Supervision:

Maintenance work orders and follow-up, meetings with engineers/contractors to get estimates/bids, review of maintenance invoices.

Emergency Maintenance:

On call 7 days per week, 24 hours per day.

Monthly Board of Directors Meetings:

Monthly and year-to-date financial statements.

Annual Homeowners Association Meetings:

Notices of meetings to all Homeowners, prepare meeting agendas, prepare financial reports.

Maintenance Labor Charge:

To perform general maintenance on the property, the labor charge will be a flat hourly rate. After hour emergencies will be billed at time and half.

Meeting Attendance:

A Mulloy Properties, LLC Manager will attend quarterly Board Meetings as necessary and one annual meeting.

Additional Charges:

Community-wide mailings or memos will be billed back to the condominium association at the current postage rate, and the current copy rate. Condo questionnaires for mortgage companies will be completed for a flat fee.