Develop, adopt and publish policies on frequently encountered matters such as collections, meeting administration, parking and towing. Create processes for managing finances, budget development, bid solicitation and contract management. Create an administrative calendar for the entire year. Develop systems for communication of messages, notices, meeting minutes and agendas.
Identify building and property components that are in need of attention and triage the restoration with health & safety issues first, then continued property damage and finally enhancements. Secure a reserve study and adequately fund reserves. Create meaningful RFPs for major contracts and carefully analyze bids. Assign project management to oversee restoration projects. Inform the residents of the plan so they understand why they are paying more.
Account for all funds and generate timely and accurate financial reports. Work with accountants to file tax returns and deliver audit reports. Create a realistic budget that finds a balance between affordability and necessity. Manage delinquencies to assure the highest possible collection of assessments. Explain the finances to the community at budget time.
MMI will work with the board of directors on any property, any condition, with any sort of problems. Our only caveat: The board must be committed to restoring the community to its optimum condition and to managing the association like a business–ethically, prudently, effectively. We know of no other management company so willing to undertake these challenges and to rise to the challenge.