Condo & Homeowner Assocation Property Management

At Realty Network we have developed a comprehensive management package designed to provide sound management and simplify the life of property owners. Please take a moment to examine this summary of management services.

Assigned Property Manager
Each property is assigned a designated property manager. That person becomes the coordinator and contact for all activities. That person develops a rapport with the Property Owner or Association Board of Directors.

Maintenance and Repairs
Our goal is to provide a quick, professional response to maintenance requests. If an owner has preferred vendors, we use those companies. Otherwise, we use independent vendors with whom we have had favorable relationships. Estimates and advance approval are obtained on major items. Emergency repairs are made on a rush basis and then reported.

Monthly Account Report
Our computerized system provides you with monthly reports of revenues and expenses. Monthly statements are generally available within 10 days after the end of the month.

Payment of Bills
We disburse payments to your vendors, mortgage holders (if appropriate) and other suppliers in a timely manner.

Disbursement of Funds
The association will be credited all collected revenues (after expenses and management fee) promptly. Funds can be sent directly to the association’s bank account after statement close-out.

Condominium & Cooperative Board Relationships
We encourage board/property manager communication. This provides the basis for a good relationship, which makes it possible to provide sound maintenance and to prevent various situations from turning into collection problems.

Collection of Funds
Delinquency letters are sent out on a timely basis. Where required, Realty Network, Inc. uses experienced counsel to bring collections lawsuits.

Preventative Maintenance
Because a small problem can become very costly in the long run, we make every effort to prevent small problems from becoming big ones. For example, many properties have programs for regular roof and gutter cleaning. Annual inspections by plumbers can often save big dollars in wasted water. Wherever possible, we have the client sign up for utilities energy-saving programs in order to save dollars on heating and lighting costs. Vendors are asked to keep their eyes open and report items that can become problems if neglected.

Annual Summary and Periodic Summaries
Each property is provided with annual cash flow summaries. These reports provide the Property Owner/Board of Directors with useful information to determine how their property is performing.

Coordination with Auditors
Realty Network, Inc. keeps detailed books and records of all financial transactions. These provide the basis for the preparation of tax returns and/or audits, which make your auditor’s work easier. That produces lower accounting bills.

Cash Reserve Management
Managing reserve funds is a priority for all associations. Realty Network, Inc. works closely with each association’s treasurer to develop guidelines for the investment of funds and then to implement those guidelines in a safe and prudent manner.

Preparation of Budget
Your property manager with back up by our accounting staff will assist you in preparing an annual budget. Starting from historical projections, you will be presented with a first draft. Open discussion and careful planning with the treasurer and Board of the condominium will then lead to a final budget.

History and Philosophy
The principal at Realty Network has been active in property management since 1984. Our team approach, preventative maintenance and attention to detail have been the cornerstone of our success.

If you are interested in our property management services and would like to find out more, please obtain a quote.

Helpdesk: 1-301-951-0581