Maine Condo Companies specializes in providing high quality condo association services, like accounting & property management.
If the community association’s reserves are insufficient to address upkeep issues, the association’s board is put in a tough position. Along with financial concerns, deferring much-needed repairs can pose significant safety risks. Increasing assessments, levying special assessments, or taking out a...
A condo is considered non-warrantable if any of the following statements are true: The HOA or condo association is named in a lawsuit. The condo building includesmanufactured homes. The building operates as a hotel, motel or timeshare.
Request regular financial statements from the association or property management to track expenses and ensure accountability. Be an active participant in decision-making processes concerning fees and community expenses. 13 Interesting Statistics on Condo Association Dues 1. The average monthly condo fee i...
Do you have outside bookkeepers, but are not getting the support you need? Are you unsure of your Association's financial position? Are you not getting the management support you need? PCC can help. We offer condominiums and homeowners' associations flexible solutions to fit your bookkeeping ...
Financial Instability: The condo association may have financial issues, such as inadequate reserves, high delinquency rates on dues, or insufficient insurance coverage. Inadequate Documentation: Failure to provide complete or accurate documentation, including bylaws, financial statements, and insurance details...
CIC provides context, insight, and depth of knowledge to condominium buyers, real estate professionals, and association members If you are buying a condo, or other common interest community property, understanding the financial status of the Association and timing for major maintenance expenses you wil...
This includes actively reviewing financial statements, budgets, and reserve studies to identify irregularities, plan for future expenses, and avoid shortfalls or fraud. Boards should adopt clear policies for managing operating and reserve funds, including ensuring proper transfers, updating signers as need...
October 17, 2024 -Portfolio Community Association Manager: $45,000-$60,000 For the Naples/Fort Myers area, immediate opening. Must be energetic and dedicated. The position includes assisting boards and committees, managing vendors, analyzing financial statements and budgets, managing deed restriction ...
Docs in Hand: Master Deed, Unit Deed, Rules & Regs, Master Plan, Management Association Bylaws, Floor Plans, Association Financial Statements, Certificate of Insurance Electric Features: 60 Amps/Less Energy Features: Insulated Windows, Storm Windows ...