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DESCRIPTION OF MANAGEMENT SERVICES
Administrative Responsibilities ~
• Select for BOARD approval, train, and supervise a Resident Manager and other personnel, where required, for the purpose of maintaining common elements, improvements, equipment and other properties of the ASSOCIATION and to enforce the By-Laws and House Rules of the ASSOCIATION. In this respect, an open channel of communication will be maintained between ASSOCIATION employees and our Property manager. It is understood that such personnel are employees of the ASSOCIATION.
• Enter into contracts on behalf of the ASSOCIATION and supervise routine and necessary services for the proper and safe operation of elevators, refuse disposal, air-conditioning, and ventilation equipment, etc. Monitor these contractual services for satisfactory performance and prepare any necessary compliance letter to vendors.
• Compile and collate data, prepare specifications and call for bids for major improvement projects as directed by the BOARD, and upon granting of a contract, maintain close and constant inspection to insure performance and quality specified. Such contractors should be licensed and bondable.
• Prepare meeting notices, proxies and agendas for BOARD meetings and annual Association meetings. Minutes of these meetings should be taken by the Secretary of the Board, or by someone designated by the Board. Nai’a Properties prepares the Minutes (starting at a charge of $35.00 per hour) and a secretary will be brought to the meeting.
• Establish and maintain files of documents, i.e., CC&Rs, By-Laws, House and Pool Rules, insurance policies, owners list, correspondence, blueprints and specifications, agenda and minutes of meetings, and any other documents pertinent to the Association.
• Assist in resolving any problems between individual owners and the Association regarding common elements, limited common elements, and rules and regulations, etc.
• Transmit to the BOARD any complaints or requests from owners or tenants.
• Exercise close supervision over hours and working conditions of employees to insure compliance with Wage and Hour and Workman’s Compensation and Disability Laws.
• Obtain and submit bids for insurance coverage as required. Prepare claims when required and upon request acts as the Board’s representative in negotiating settlements.
• Act as liaison for the Association in any negotiations or disputes with Local, State, and Federal agencies, or regulatory bodies.
• Arrange and attend BOARD and ASSOCIATION meetings to provide data and answer questions pertaining to any part of our duties and responsibilities.
• Advise the BOARD of any changes in legislation by governmental agencies relative to Condominium Management.
• Perform periodic inspections of the buildings and grounds. A complete annual maintenance inspection will be conducted prior to preparation of the budget to insure all needed maintenance items are included in the budget.
• Perform any other duties mutually agreed upon by the BOARD and NAI’A PROPERTIES CORPORATION.
Fiscal Responsibilities ~
• Arrange for deposit of all maintenance assessments and other receipts into accounts established for the Association at federally insured financial institutions. Agent will maintain a fidelity bond for employees who handle the Association’s funds in an amount sufficient to protect the Association. Reserve funds will be deposited into interest-bearing accounts at federally insured depositories, or in such federal bonds or notes as directed.
• Prepare a monthly Cash Receipts and Disbursements Statement in the firm’s standard form for the Board of Directors, with additional distribution as directed.
• Prepare an annual Treasurer’s Report on an accrual basis with additional distribution as directed.
• Prepare an annual budget with recommendations to the Board sixty days or more before the end of the Association’s accounting year.
• Maintain Association’s employee payroll records, prepare required reports, and make deposits and payments for payroll taxes, payroll insurance, and withholding taxes. Prepare and issue payroll checks.
• Maintain Hawaii General Excise Tax records, prepare reports and submit required payments.
• Schedule, review, and process all disbursements as authorized. Maintain all accounting records of the Association on an accrual basis in accordance with standard accounting procedures.
• Maintain individual owner accounts and provide an accounting to each owner annually, upon request.
• Act upon Association delinquencies. Notify the delinquent owner, the Treasurer, and the mortgagee where required. Pursue collection through legal action, or as directed by the Board.
• Assist Association appointed auditor.
GENERAL MANAGEMENT PLAN
We would be pleased to submit a General Management Plan for your Association. It would consist of the following activities:
INSPECTIONS:
Inspections will be conducted in accordance with the Condominium Management Agreement. Recommendations and discrepancies will be noted in these reports. A comprehensive annual inspection will be made to assist in preparing the ensuing year’s budget. Board members are welcome and encouraged to participate in the annual inspection.
REVIEW OF CONDOMINIUM DOCUMENTS:
A review of all condominium documents will be performed within three (3) months of the commencement of service. The documents considered include (but are not limited to) the Declaration (HPR), By-Laws, and House Rules. Areas of weakness will be noted and recommendations will be made.
LONG RANGE MANAGEMENT PLAN:
If requested, a long-range management plan will be prepared at an additional expense and revised in conjunction with input from the Board of Directors. Consensus and input from apartment owners will be solicited at annual or special meetings.
MEMORANDUM REPORTS:
Memorandum Reports are submitted to the Board of Directors on a monthly basis. Information contained in these reports includes (but is not limited to) Financial Statement (maturing certificates, delinquencies, irregularities, etc.), Minutes of Meetings, resident or owner communications, vendor contracts, and other pertinent information.
GROUNDS / LANDSCAPE MAINTENANCE:
We will conduct a survey of the grounds prior to acceptance of the proposal. When retained, suggestions will be submitted for Board consideration.
REPAIRS:
Depending upon the nature and extent of work required, bids would be solicited from the appropriate contractors. Specifications for the necessary work would be drafted by the Property Manager, or a qualified specialist. Emergency repairs would be effected as expeditiously as possible.
HOUSE RULES ENFORCEMENT:
Should a particular violation chronically exist, enforcement pursuant to the provisions of the By-Laws would be pursued.
RESIDENT MANAGER:
Nai’a Properties will provide constant supervision, guidance, and training.
OPERATING BUDGET AND RESERVES:
An operating budget and reserve funding schedule will be prepared by Nai’a Properties with input from the Board of Directors, and submitted for Board approval. There is no additional charge for this service.
DELINQUENCIES:
We have an enviable track record for reducing the delinquency rates for the projects we have assumed the management of. This is effected through 1) having the collection policies of the project made known to the Association members, and (2) adhering strictly to the provisions set forth in the collection policy. This generally results in 1) payment to bring the account up to date, or 2) the filing of a lien and subsequent foreclosure action if warranted.
FINANCIAL STATEMENTS:
Our statement provides a clear, comprehensive, and concise report of the project’s financial performance. They will be provided to you on a monthly basis, receipt of which is generally prior to the regular meeting of the Board of Directors.
PAYMENTS:
We utilize a coupon system in conjunction with Bank of Hawaii. Also available and recommended in the Surepay payment system that allows for maintenance fees to be automatically paid from an owner’s checking or savings account directly to the Association’s account. Otherwise, a payment coupon book is provided to each owner. This is done as a convenience for the homeowner. This auto debit system enables the Association to receive immediate credit for maintenance payments and earn interest on their deposits.
Due to the extensive and detailed nature of property management, it is impossible to address every area of the services we will provide. If you require additional information, or if we can be of further assistance, we would be pleased to meet with you to explain and expand upon our proposal.
ASSOCIATES AND CONSULTANTS
Nai’a Properties has the privilege of being associated with the following:
1. RCI Preferred Alliance
Bulk Purchasing Programs
2. Grant Henry
Pro-Serve Roof Consultant
3. Scott Brothers – Contracting
Construction
Painting, Water Proofing and Roof Systems
4. Tom Douma
Hawaii Inspection Group
Along with the following consultants:
1. Joyce Neeley, Esq.
Neeley & Anderson
Attorneys at Law
2. John M. Westerberg, A.I.A.
Island Design Center
Architecture-Interior Design
3. Kent James, CPA
James & Associates
Independent CPAs / Auditors
Description of Management Services Document
General Management Plan Document
Associates and Consultants Document
Nai'a Properties, Inc.
975 Limahana Place, Suite 203
Lahaina, HI 96761
Telephone: (808) 667-7778
Fax: (808) 667-9993
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