THE BOTTOM LINE:  Almost daily, we receive telephone calls from board members and association homeowners, telling us the same thing:  "Our association property manager is unresponsive; they will not answer their telephone, nor return emails."  There are four main reasons why boards of directors change condominium association management companies:

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1)  Listed above, unresponsiveness, or lack of a sense of urgency in responding to the needs of the board members, and property owners.

2)  Failure to provide adequate property services, and follow up on the services.  These services may include one or a combination of landscaping services, pool services and appropriate chemical level maintenance, common area cleaning, and a host of maintenance items.  

3)  Ongoing, and uncorrected administrative and bookkeeping errors and omissions.  Among the most prevalent examples are collective failures to provide the board with timely end of month financial information, omission of keying and paying vendor invoices, errors in receiving and properly posting of monthly association and/or assessment dues, and a host of other administrative and accounting issues.  

4)  More frequently and discouragingly, association managers are engaging in unethical and/or illegal activities, ranging from disallowing board members to be listed as authorized signers on association bank accounts, to the willful embezzling of association funds.

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The list above is not found among national statistics, but rather data compiled from board members who contact IMS, seeking to make a change from their current association manager.  In the majority of these cases, the current condominium association management company has grown too large, losing their ability to properly focus on the client.  This fact is abundantly apparent in our coastal markets, such as Myrtle Beach.  Our research has found that, on average, the typical association manager is assigned between 600 - 1200 doors each, which is simply too much volume for one person to oversee adequately.  Our model is completely different than that of most association managers.  IMS offers a whole office approach to association management, especially for that of larger associations, of 150 plus doors.  Various team members of our offices are assigned to oversee administrative and operational matters.  While there is one association manager assigned to the community, this team member has an entire team at their disposal to assist them with various aspects of managing the association.  

 

Condominium Association Management is challenging and exciting, requiring constant attention, planning, communication, reaction to service requests, and results delivered, without excuses.  Condominium Association Management is the core of our business operation, and as such, the high demand for our partnership continues, across the Carolinas and beyond.  
 
Our level of management involvement and oversight with condominium association management is extensive, and as an association manager, both the Board of Directors and the respective asset holders may expect professionalism and delivery without exception in the following:

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1. Initial inspection

2. Five year forecast, and capital improvement projection

3. Preventative maintenance recommendations and oversight

4. Detailed year one, and corresponding operating budgets

5. Cash management program

6. Powerful and insightful monthly reporting, consisting of as many as 12 monthly reports, in which the board members have instant, 24 hour access to view through their homeowners portal

7. Assessed billing and collections

8. Board meeting and minutes coordination.  In addition, at the discretion of the board, IMS will gladly plan, coordinate and send calendar invitations to board members and homeowners for annual meetings.  Also, IMS will prepare and disseminate ballots for the election of board members during annual meetings.  

9. Attendance of all board and any association meetings

10. Posting of minutes and any communications arising from # 8 above

11. Complete property management and supervision of asset

12. Insurance administration

13. Communications

14. Complaint resolution service

15. Recreation and social programs and services

16. Identification of, receipt of, coordination, and scheduling of all property services required for the asset, including, but not limited to

    1. Exterior cleaning

    2. Interior janitorial cleaning

    3. Housekeeping

    4. Stocking of common areas, such as swimming pool areas with amenities supplies

    5. Landscaping, and landscaping maintenance

    6. Planting of flowers, and other decorative items, as a part of # 5 above

    7. Pressure washing

    8. Window cleaning

    9. Complete maintenance of the asset, from handyman service, to electrical, HVAC, plumbing, building, replacements, and if an outside contractor should be required (rarely), total oversight of that contractor’s work.

 
Property Inspections - Well-planned, detailed, and on-going property inspections is the cornerstone of property management for these assets.  This is an area where many property managers struggle, and where IMS excels.  In addition to our overriding goal of the maximization of the return on investment for our clients, property inspections are the most important aspect of our business operations.  
 
Managing On-Site Employees - Hiring, training, and management of employees and managers, as required by the needs of the association.  In some cases, the bi-laws of the association allow for the association to employ either W2 or 1099 employees and contractors.  In other cases, the board requests IMS to supply a part or full time, onsite association manager to manage the day to day activities and management oversight of the community.  

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Pricing - IMS is well-known for providing only completely transparent pricing for our association management partners.  When your service and pricing proposal, as well as management agreements are presented to prospective boards of directors, all pricing is clearly listed, including recurring, and less-often charged fees.  There is no small print nor the surprised billing items many association managers charge their associations.  When the board receives our simple pricing structure, they clearly see the base management fees, as well as any additional fees which are charged on a monthly or less recurring basis.