South Valley Estates Homes Association –Property Management … Management_SVE HOA... ·...

South Valley Estates Homes Association

Property Management Proposal

January 14, 2011

11087 Hauser Street Lenexa, Kansas 66210

(913) 6481500

www.cmckc.com

________________________________________________________________________ South Valley Estates Homes Association – Property Management Proposal January 14, 2011

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Summary

Centennial Management Company proposes to provide property management services to South Valley Estates Homes Association. Our objective is to partner with the Board to achieve and sustain a thriving, wellmaintained community.

Company Background

As more fully discussed in the January, 2011 Property Management Services Summary, Centennial has provided property management services since 1962. We provide streamlined management processes that yield accurate information and results on a timely and efficient manner. Please refer to the Property Management Services Summary for a detailed description of the services we provide.

We specialize in association management and currently provide services to over 30 community associations. Our customer summary is as follows:


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Management Portfolio

Some of our existing communities under management:

• Retreat at the Wilderness, 159 th & Roe, Overland Park, Kansas. Cottages at the Wilderness, 163 rd & Roe, Overland Park, Kansas. Retreat at Maple Crest, 159 th & Metcalf. These Kansas communities are currently at various stages of development.

o Paul Robben, Board Member, Developer. (913) 6852282

• Haven at the Wilderness. 159 th and Roe, Overland Park, Kansas. Haven is a 54 unit condominium project.

o Jim Hoover, Board Member. (913) 9408608

• Greenbrier Homes Association. Antioch and 85 th Street, Overland Park, Kansas. Greenbrier is a 352 unit town home and condominium community.

o Dwight Burris, Board Member. (913) 2844285

• Town & Country Villas. 71 st and Hedge Lane Terrace, Shawnee, Kansas. Town & Country is a 180 unit town home community located in Shawnee, Kansas.

o Richard Griffith, Board Member. (913) 4419884

• Shoal Creek Valley Master Planned Community. Single family and town home communities on a 1,900 acre planned development. On 152 Highway approximately 1 mile west of Liberty, MO.

o Steve Gilliland, Board Member. (816) 6797283

Additional references available upon request.

Description of Services

• Assist the Board in determining the short and longterm goals and objectives for the community.

• Responsible for the overall operation of the community and for executing the management plans established by the Board.


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• Provide ongoing input to the Board regarding legal, compliance, regulatory, maintenance, and financial matters impacting the community.

• Biweekly property inspections.

• Quarterly meeting (Board and/or Owners) attendance.

• Provide and maintain interactive Community Website to: o Distribute association information and documents o Target and send group emails and mailings o Collect resident information and requests o Collect assessment payments and fees o Support resident selfservice and access to information o Optimize use of volunteer time and resources o Provide education on procedures and rules

• A management contract and scope of services will be provided for review prior to engagement.

Authorization Limit

All expenditures exceeding $1,000 will require Board approval.

Fees

• The monthly management fee will be $675.00. o Pricing includes interactive website monthly subscription fee.

• A onetime set up fee of $395 for the interactive Community Website.

• Fees exclude all outofpocket expenses, such as, but not limited to, copies, paper, envelopes, postage, checks, etc.

• Payment for management services is due in advance on the first of each month.


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Company Staffing

Chris Gripe, President Chris has over 25 years experience in property management, real estate and finance. Chris holds a Bachelors Degree in Accounting, is a licensed Real Estate Agent and a former, licensed CPA.

Keri Tarantino, Director of Community Management Keri Tarantino has over 10 years experience in the property management industry. Keri holds a Bachelors Degree from Bellevue University and is a member of the American Business Women’s Association. She is a proven leader with a track record of strong, decisive leadership in property management.

Sherri Lindsey, Director of Real Estate Services Sherri has over 20 years’ experience in residential property management. Sherri is a licensed Real Estate Broker and Certified Property Management Specialist. Sherri has managed multifamily portfolios consisting of 2,000 or more units over multiple states. She is an active member of NARPM, REI Investment Club & American Business Women’s Association.

Cheryl Ennis, Property Manager Cheryl has been in the property management industry for 13 years. She has worked in a variety of positions including onsite management, maintenance coordinator, accounting and customer service. Cheryl has excellent organizational and communication skills. Her expertise, professionalism, and client satisfaction have earned her numerous accolades.

Melodie Crider, Director of Finance Melodie has over 15 years experience in accounting, primarily in the property management industry.

Nick Oberle, Director of Construction Operations Nick has over 10 years of maintenance and construction experience.

Property Management Services Summary

January, 2011

11087 Hauser Street Lenexa, Kansas 66210

(913) 6481500

www.cmckc.com

________________________________________________________________________ Property Management Services Summary January, 2011

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1.0 Executive Summary

Centennial Management Company has provided property management services since 1962. Our mission is excellence in property management.

Our goal for every association management customer is a streamlined management process that yields accurate information and results in a timely and efficient manner.

We believe Centennial is ideally suited to manage your associations and provide the results you expect. We are constantly improving the association management process; we listen to our customers’ needs and concerns; we are not satisfied until our customers are satisfied.

2.0 Company Capability

Centennial Management Company has performed property management services in the Kansas City Metropolitan area since 1962. We specialize in association management and currently provide services to over 30 community associations.


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Centennial maintains various affiliations, including the Community Associations Institute. Centennial is a Kansas Corporation in good standing.

Our goals specifically include:

• Excellence in grounds and maintenance services • Timely response to all requests and communications • Accuracy, clarity and significance in reporting • Customer access to needful information • Professional demeanor and performance • Expected results in a timely manner

Some of the management reporting tools that are utilized for superior financial management include:

• Balance Sheet • Profit & Loss Statement • General Ledger • Variance Report • Accounts Receivable Summary • Accounts Receivable Aging • Accounts Payable Aging • Tracking reports for work orders, architectural submittals, facilitiesrelated

projects, etc.

All reports can be modified or customized to accommodate customer needs.

Centennial employs fulltime maintenance technicians and hires experienced contractors who are qualified to perform any residential plumbing, electrical and structural carpentry work.

We maintain a list of over 350 qualified vendors and contractors.

Centennial Management Company provides services to over 30 associations in the metropolitan area. Our track record of constant growth and customer retention demonstrates our ability to establish and maintain effective working relationships. Through offering and providing professional services, and by performing “as advertised”, we are able to maintain such high standards.


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Evidence of these claims is demonstrated in the following comments from two of our current association board presidents:

• “Centennial has brought stability and a sense of direction to our homes association. What a relief!” Jo Ann Triano

• “We are really pleased with the integrity of Centennial’s staff. Honesty is a big thing with us, and we didn’t see that with our prior management company.” David Cochran

3.0 Management Process

3.1 General

We utilize a dualservice approach which means every account has an assigned property manager who is supported by an assigned maintenance supervisor. Every association is faced with challenges of varied degrees and nature. Effective assessment and resolution of those issues is best accomplished through management by experts in those related areas.

We can provide onsite management or utilize existing onsite employees, as necessary.

All pertinent written communications, documents, contracts, etc. are scanned and maintained electronically allowing immediate access (including .pdf files via email) and backup.

All work orders, architectural submittals, facilitiesrelated projects, violations and owner correspondence are monitored utilizing Microsoft Dynamics 4.0 Customer Relationship Management (CRM) software. (See page 6 for one example screenshot of the CRM software utilized.)

We are continually improving and upgrading our software, hardware and technology. We utilize server technology with dual hard drives and daily backups. Some of our software includes:

• Microsoft Windows Small Business Server • Microsoft Dynamics CRM 4.0 • Microsoft Windows XP Professional • Microsoft Office


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• Appfolio • Quickbooks Professional 2008

Our property managers have remote access to our company server. This results in improved efficiency and quicker resolution of customer issues.

All incoming email and telephone calls are answered immediately if possible. Any messages are returned the same day, if feasible, and at least within 24 hours.


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Example of CRM Software Screenshot of Cases Summary

This software is used to track and monitor all violations, tasks, jobs and projects.


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3.11 Online Association Services

• Provide the following via interactive HOA website: o Distribute association information and documents o Target and send group emails and mailings o Collect resident information and requests o Collect assessment payments and fees o Support resident selfservice and access to information o Optimize use of volunteer time and resources o Provide education on procedures and rules o See Online Association Services on our website to view a Demo

HOA website

3.12 Administrative Management

• Maintain Association files • Provide Governance Services • Provide Status letters to title companies • Provide Welcome Packets to new Homeowners and Sales People • Attend Board of Directors and Annual meetings • Provide Board packets prior to the Board Meetings • Assemble newsletters • Resolve Homeowner concerns as they pertain to the HOA • Assist the Board in obtaining insurance • Manage all onsite and offsite employees, and contractors

3.13 Fiscal Management

• Maintain HOA fiscal records • Manage incoming assessments, special assessments, deposits

and other miscellaneous payments • Adhere to the HOA’s collection policy and send notices accordingly • Work with HOA attorneys on uncollectible accounts • Review and process checks for all invoices that are HOA

responsibility • Prepare monthly financial statements to include Balance Sheet,

Income and Expense statement, Bank reconciliation, check disbursement, general ledger, and provide support documents

• Mail out monthly statements to all Homeowners


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• Prepare and present a detailed HOA budget, with assistance from the Treasurer

• Ensure all necessary tax and corporate forms are filed in a timely manner

3.14 Physical Management

• Provide 24hour oncall emergency availability for emergencies • Assist the Board to ensure homeowner compliance in accordance

with the governing documents • Assist the Board in administering the Architectural Review process • Keep detailed report of all work orders issued and any other

correspondence relating to homeowners, vendors or the HOA • Upon request of the Board of Directors solicit, evaluate and present

to the them bids obtained for services required in the HOA • Assist the Board in identifying and monitoring deferred

maintenance and capital improvement projects • Oversee and follow up on all projects • Maintain communication with all vendors providing services on site

3.2 Coordinate, Manage & Monitor Staff To ensure that all projects are properly managed, all offsite employees are involved in biweekly staff meetings (onsite employee meetings will vary by community). Topics discussed include:

• Status of action items from previous meeting • Status of current projects • Issues requiring input for action • Upcoming tasks and projects • Review of deadlines • Utilize computerized tracking system reports to monitor the above items

This structured communication supplements our ongoing daily interaction in our efforts to provide accuracy, efficiency and timeliness in our service.

3.3 Fiscal Accounting/Budgetary Controls We have established internal controls to ensure safeguarding of the association’s funds. These controls include the following steps and processes:


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3.31 Fiscal Accounting

• Accounts Payable o All nonrecurring bills and invoices are delivered to the appropriate

property manager for review and approval, in a timely manner. o All bills and invoices are entered and paid by the assigned

bookkeeper. o All checks and related invoices are delivered to Chris Gripe for

review and signature, if required. o All checks and related invoice copies are then delivered to the

appropriate Board member for review and signature, if required.

• Accounts Receivable o All checks are entered by the assigned bookkeeper. o All deposits are hand delivered to the appropriate Banking

institution. o All Accounts Receivable listings are reviewed monthly by the

Property Manager. o Periodic (as determined by the Board) detailed statements are

mailed to owners to review historical account activity.

• All bank accounts are reconciled by the assigned bookkeeper. The bank statements and related computerized reconciliations are reviewed by the property manager. Copies are provided to the association Treasurer or appropriate officer.

3.32 Budgetary Controls To ensure compliance with existing budgets, the following controls and processes are in place:

• All “fixed”, recurring expenses, such as utilities, insurance, etc. are reviewed and compared monthly to the current month and yeartodate budget. Unexpected variances are investigated and reported as appropriate.

• All other expenses, such as contracted maintenance, noncontracted maintenance, etc., are compared to the current month and yeartodate budgets prior to payment. The invoices are also reviewed prior to payment to determine consistency with the contract terms, if appropriate. (The work performed is reviewed for acceptable completion, as part of our Physical Management.)


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• All nonrecurring, noncontracted expenditures are considered in light of existing budget line items. Authorization for exceeding existing budgets is obtained as predetermined in the management contract.

• All budgets are reviewed monthly to determine variances. Variances are investigated and explained. A variance report is provided to the Board on a monthly basis.

4.0 Company Management Team

Chris Gripe, President Chris has 25 years experience in property management, real estate and finance. Chris holds a Bachelors Degree in Accounting, is a licensed Real Estate Agent and a former, licensed CPA. Chris is aware of the responsibilities associated with managing money for others as well as the expectations for professional service. His experience in owning and managing real estate has given him an understanding of the necessity to maintain those valuable assets.

Sherri Lindsey, Director of Real Estate Services Sherri has over 20 years’ experience in residential property management. Sherri is a licensed Real Estate Broker and Certified Property Management Specialist. Sherri has managed multifamily portfolios consisting of 2,000 or more units over multiple states. She is an active member of NARPM, REI Investment Club & American Business Women’s Association.

Keri Tarantino, Director of Community Management Keri has over 10 years experience in the property management industry. Keri holds a Bachelors Degree from Bellevue University and is a member of the American Business Women’s Association. She is a proven leader with a track record of strong, decisive leadership in property management.

Melodie Crider, Director of Finance Melodie has over 15 years experience in accounting, primarily in the property management industry.

Nick Oberle, Director of Construction Operations Nick has over 10 years of maintenance and construction experience.

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