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Property Management Services and Considerations

Two important facets of any effective property management program are establishing and maintaining an open communication forum as well as reporting schedules which are performed annually, semi-annually, quarterly and monthly to provide HOA Boards and private property owners with clear information.

Tri-State Enterprises Property Management Services Division excels with the knowledge and practice of generating and distributing reports and materials to clients for tax, financial and assessment purposes with the following procedures:

• Maintain secure records.
• Respond to work order inquiries from property owners.
• Provide periodic written status reports.
• Weekly site inspection and periodic building inspection reports.
• Assessment and related billing presentations to HOA members.
• Fee, assessment or other income management.
• Manage assessment delinquency records and monthly aging lists.
• Manage bank deposits for HOA collected monies.
• Manage funds disbursement from HOA expense accounts when authorized.
• Manage invoice approval and payment process for budget items.
• Manage and pay all property expenses from HOA funds.
• Manage authorized HOA onsite employees.
• Assist preparer with development of pro forma operating budgets.
• Provide HOA Tax Return, Financial Reviews and Audit Preparation assistance to CPA or other financial consultant.  
• Provide complete and accurate financial accounting and records in accordance with GAAP, including:
• Balance Sheet
• General Ledger
• Financials and other reports submitted to HOA Board or private property owner.