Condominium homeowner associations have diverse needs. They must address the concerns and issues of individual homeowners and need help with the management of the buildings, grounds and financial services. We specialize in providing premiere property management services to homeowner associations and their board of directors/trustees. In fact, since 1984, we have been providing comprehensive property management services to homeowner associations through New Jersey.
First and foremost, we will keep your property exceptionally well maintained — safe and sound. We pay attention to every detail — the landscaping, the entryways, the interiors and the exteriors. We first listen to your needs and then respond as quickly as possible. If you prefer a customized approach to property management, we create it for you.
Fire alarm systems, emergency lighting, elevator maintenance, ventilation systems, sprinklers and more are all critical to the safety of the homeowners, your property and your investment. MEM Property Properties evaluates your building systems for general safety, last inspections and certifications required by law or common maintenance practice. In fact, we set up an Annual Calendar for monitoring maintenance and inspections on a monthly basis, along with the vendors who are responsible.
To help your homeowners maintain the value of their property, it’s imperative that common area cleaning and gardening services be performed on a routine basis. We can provide a range of services (daily, weekly, or monthly) depending on your association’s needs. In addition, we will evaluate any existing cleaning and gardening services and provide recommendations. We provide semi-annual or annual services such as exterior window cleaning, carpet cleaning, marble maintenance and more. As with all of these services, we obtain bids and will not schedule any work until approved by the Board.
At MEM Property Management, we believe routing inspections are a critical part of any property management services. We routinely check up on weekly cleaning and maintenance and have our Property Managers on-site to monitor the quality of any ongoing repair work.
MEM Property’s maintenance department can handle repairs including routine carpentry work, electrical repairs, locksmith repairs or plumbing leaks. We always obtain bids from outside vendors for the following work: pest control, roof replacements, painting and waterproofing and large reconstruction or remodeling work. A MEM Property maintenance person is on call seven days a week for emergencies. In emergencies, the appropriate maintenance person will be dispatched immediately.
MEM Property Properties provides a number of services that can assist the Board in their duties. These include:
- Maintains To-Do List
This ongoing list summarizes all outstanding board member requests. Items are not removed until completed. This list is always included in the Board Packets that are sent one week before the board meeting.
- Reviews all Bid Work
Provides references to the Association on everything from contractors, plumbers, electricians, etc.
- Local Law Compliance
Keeps Board apprised of the latest homeowner association laws (city, state and national). See our industry affiliations.
- Corporate Governance
Prepares board agendas, provides Board Packet with an updated to-do list and with information regarding each agenda item, notifies association members of next meeting/agenda and take minutes at all meetings.
- Financial Reporting
Provides monthly financial package.
The staff at MEM Property Management has the education and experience in accounting, finance and financial analysis that is rarely found in a property management company. MEM Property uses a wide range of accounting programs and can customize its reports to meet the specific needs of all clients. Skyline, MRI, Timberline, and QuickBooks are but a few examples. Our goal is to provide you with an accurate and understandable system that will allow you to easily account for every dollar in and out.
In addition, MEM Property Management also prepares and presents the proposed annual budget to the Board. We prepare all information necessary for the end-of-year financial review and filing of taxes by the Association’s CPA. Our comprehensive financial package will keep you up to date on all of the activities at your property. We collect all Association fees from homeowners. Coupon books are used by homeowners to mail in their monthly fees directly to the bank. Reserve funds are transferred directly to an interest bearing savings account or Reserve Account. We also pay all Association bills and we provide the Board with a comprehensive financial package that includes the following information:
- Balance sheet
- Income and expense statement
- Owner assessments receivable
- Check register
- Bank account reconciliation for both operating account and reserve account
- Copies of actual bank statements for all bank accounts set up for the association
We appreciate that the volunteers and board members are the most valuable resource a property association has and we support the Boards we represent and help them address the issues specific to their community. We understand your needs of (a) managing your association within budget; (b) keeping your residents satisfied and informed; and (c) effectively governing your community.
MEM Property Management understands the need to be readily available to serve the needs of all of your tenants. The quality and availability of a maintenance crew can be a deciding factor when it's time to renew a lease. MEM can provide an in-house staff that can handle all of these needs for you as soon as they arise or we can be available on an hourly as needed basis.
- Available on hourly "as needed basis"
- Highly-skilled building engineers
- Responsive to resident service calls
- Prepare preventative maintenance program
- Directly resolve most repair/maintenance issues
- Professional demeanor in MEM uniforms
- Enhance positive relationships with tenants and vendors
- Cost effective maintenance for properties
At MEM Property Management, we will take control of every facet of a construction project once you decide to make that investment. We will handle all bids, budgets, proposals, scheduling, purchase orders, contractors, sub contractors, equipment management, and all documentation. We will request and review several bids and proposals from the area's professionals, many of which we have been doing business with for many years, and weigh them on your behalf for both engineering and financial merit. Our decision will stem from nearly 20 years of experience in this field and with your property’s best interest in mind.
We will then over-see every aspect of job development - from signed contractual agreement to project completion.
- Coordinate meetings with Architect and Association or Owner
- Review plans from the Owners perspective
- Maintain control over design to insure cost effective improvements
- Solicit bids from subcontractors or general contractor
- Set up construction meetings and monitor throughout construction process
- Point person for Association, architect and contractor
- Work with local governmental agencies to insure code compliance
- Maintain cost control throughout construction process
- Conduct final walk-through and follow up on punch list items
When a Sponsor/Developer turns over the management of an Association to the unit owners, a process frequently called "Transition" takes place. The governing Board of the Association, now made up of a unit owner majority, has total responsibility. Both the fiscal and physical realities of this happening are events are often overwhelming to new homeowners.
MEM Property Management is experience with assisting Ccondominium unit owner Boards in this demanding process. Our in-house property management staff is your resource. We provide assistance with Transition Studies which contain both Deficiency Reports and Capital Reserve Studies that inform the Board of the condition of their commonly owned facilities and the funds needed for replacement of these capital structures over time.
As part of the Transition, MEM will identify your community-specific needs and to evaluate the proficiency with which they are being met. The input of Board and community members is invaluable in helping us to determine the requirements, expectations and overall satisfaction of the community. We examine existing procedures and put to work our expertise to pinpoint areas that need modification or improvement. Along with its Evaluation Report, the Transition Team submits a plan for modification and improvement that is reviewed MEM and presented to the Board.
Our long experience enables us to recognize methods that work efficiently. We also recognize existing procedures that are working well - those we leave in place and, indeed, learn from. MEM is not an "our way or no way" company. Our goal is not necessarily to change but to improve management service to your community.
If your Association directly employs personnel, MEM Property Management recognizes them as valuable resources. Already familiar with your property’s specific needs, your existing staff members can make the transition to MEM Property Management. We take an objective look at each individual's performance and potential. We try to avoid staff reductions, carefully weighing budget allowances, the need for adequate personnel and the MEM that staff changes will have on the community. Recommendations concerning existing staff are presented to the Board. If it is necessary to hire new personnel, MEM carefully screens all potential employees.
All hiring decisions are made without regard to race, color, sex, religion, age, physical handicap, citizenship, national origin/ancestry, lawful alien status, veteran status or military eligibility, in compliance with all applicable laws, executive orders and regulations regarding nondiscrimination in employment. |
