Our vision is for Towers Property Management to be recognized as THE preferred association management company with state-of-the-art-technology, association management experience, and a human approach. We are, at the core, a service-oriented company whose principals are personally involved in each and every community. We understand that superior service means understanding your needs and expectations, then proactively working to meet and exceed them. Our mission is to provide our association clients with professional, personal customer service, experience and access to resources, and to support them as they strive to achieve their strategic goals.
We accomplish this mission by acting with integrity and professionalism, thus building long-term relationships with both clients and employees, enabling each of us to achieve our goals. Our corporate philosophy is based on fiscal conservatism, the establishment of long-term mutually beneficial relationships and an aggressive approach to marketing and member services expansion. Our goal is to go the extra mile to provide personal service beyond expectations in a climate of excellence and quality.
Our trained professionals provide the following services to Homeowners Associations: |
HOA Financial Management - To ensure your association receives all the benefits of your fiduciary responsibilities, we provide several services to each client account & property to insure accurate & concise financial reporting including:
Accounts Receivable: - Maintain and update homeowner master list (adds/deletes/changes)
- Complete Association questionnaires/certifications and closing letters
- Create and mail invoices
- Receive, record and deposit funds
- Delinquency follow-up
- Create and send monthly or quarterly statements for accounts with outstanding balances
- Apply late fees and interest charges
- Send “file/lien/collection” requests to Association’s Attorney
- Court Appearances
- Establish Budget & Chart of Accounts for Association
- Input all revenue & expenses in accounting system and report monthly
- Produce monthly financial reports, including:
- Income Statement (Budget vs. Actual YTD)
- Balance Sheet
- Check Register
- Homeowner Delinquency Report
- Reconcile bank statements monthly
- Prepare tax return information for outside accountant (CPA)
Accounts Payable: - Receive, review, and ensure timely payments of vendor invoices
- Attach check stub with invoices, statements or receipts
- Online invoice approval available for Board Members with Community Website
- Encrypted digital signature for checks
Budgeting: - Develop Proposed Budget based on previous year
- Produce working budget documents for board of directors
- Produce consolidated budget for board review and approval
- Provide budget increase/decrease recommendations
Reserve Analysis: - Assist Engineering firm or Reserve Specialist to conduct reserve study
Management Company Expenditures: - Provide monthly detail of all Management Company expenses
- Provide detailed monthly invoice for services
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Comprehensive Full Service HOA Management - Aside from our financial management services, our full service management packages include physical oversight of the public areas of the community and a Licensed Community Association Manager who oversees the following:
Annual / Turnover Meeting: - Attendance by all Management Team Members (Monday-Thursday); weekend attendance available for additional fee
- Meeting Coordination
- Mail notification to all applicable lot owners
- Assist Board in obtaining and reserving facility
- Create and track ballots and proxy’s
- Assist with vote collection and counting
- Produce copies of all documents and handouts for meeting
- Present Management Company Report
Board of Directors Meeting: - Coordinate meeting dates and remind Board members (Monday-Thursday)
- For regularly scheduled meeting, Financial Reports and Management Report will be presented at meeting. Additional charges may apply for after-hours or weekend meetings
- Develop agenda with board input
Newsletters: - Produce copies of associations newsletter and distribute
- Cost of copies and postage will be billed separately
- Community Manager can provide property management related article for newsletter upon request
- Newsletters may be written by our management team, for your association at an additional charge
Homeowner Database: - Maintain and update master homeowner list (adds/deletes/changes)
- Inform Welcome Committee of new move-ins, upon request
- Provide copy of Covenants, Bylaws, ARC Standards, ARC Request Form, Inspection Process Guidelines and a Homeowner Update Form to each new resident upon notification of completed closing by the closing attorney
Re-Sales: - Record resale homes during the inspection process
- Write HOA letter stating policy regarding mandatory closing letters
- Track homes sold, by information provided to us from the closing attorneys
Property Inspections: - Monthly drive-through for covenant inspections (unless otherwise stated in contract)
- Send violation letters at the direction of the board
- Coordinate appeals and hearings
- Legal Follow-up as needed
- Maintain correspondence file
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There are many benefits when contracting with an association management company. The assurance that the association is in good hands is one of these benefits. An association management company is a firm of skilled professionals who provide association expertise and specialized administrative and management services. Services are mutually agreed upon through a written contract between the client and Towers Property Management. An ongoing assessment of staff time and client services takes place to ensure efficiency and effectiveness.
Managing associations has become increasingly complex, and Towers Property Management is able to handle the rapid changes taking place in professions, the economy, technology, and government regulations. Employing individual staff also has become a professional liability for some stand-alone associations, and with an association management company, that liability falls back on the company. Towers Property Management allows volunteer leaders to put more energy into their association’s overall mission and the goals of their industry and profession, rather than into time consuming administrative tasks.
Request an HOA Management Proposal
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