In addition to our property management services, MEM Property Management offers a vast array of consulting services to community builders and developers, including the preparation of budgets as well as reviewing the governing documents from a “owenrs” point of view.

Reserve Fund Study & Plan Preparation
Based on the Condominium Property Act units cannot be sold in a new building being unless a reserve fund study has been completed by a “Qualified Person” as described in the Act, and a copy of the Reserve Fund Plan be included in the buyer disclosure package. Many lenders today require a reserve fund study to be completed in order to fund a mortgage for the buyers. We work with our network of engineering consultants to provide Capital Reserve Studies that inform developers of the funds needed for replacement of these capital structures over time. Our Capital Reserve Studies are prepared under the supervision of a Community Associations Institute (CAI) Certified Reserve Specialist (RS).

Operating Budget & Fee Schedule
We have more than fifty condominium corporations under management which we use as comparisons when preparing the annual operating budget for your project.

Purchaser Expectations
In the process of creating and selling homes in the community we find that buyers frequently experience a gap between expectations as a purchaser and the reality of ownership. Our role, as part of the development team, will be to work insuring that the expectations created during the marketing and sales period and the reality of ownership are consistent and positive throughout the process. Working with the team to assure a high level of customer service during the move in and warranty period, we will coordinate with the developer to implement a work order and customer service satisfaction program. As part of the transition process we work to create a positive environment where the new owner becomes part of the process of transition from developer to owner control of the association.

Condominium Association Owners' Manual
To introduce the new owner to their new home and the Association that they will become a part, we will prepare a Condominium Association Owners' Manual. Developed as a marketing tool as well as an important informational guide, the Manual discusses:

• The Association's organizational structure
• Board of Directors and committees
• Fees and charges
• How to obtain services
• The covenants process
• Rules and regulations of the Association
• Information about the neighborhood and its amenities
• Schools, places of worship and governmental services

Best practices strongly suggest that the founding policies and procedures of the Association, and rules and policies subsequently adopted, be incorporated into a document that is easily amended and referenced to supplement the legal documents of the Association. We will work with the attorney in preparing the Book. The Book identifies the policies and procedures of the Association extracted from the governing documents. Specific sections will be comprised of Policy, Administrative, General and Special Resolutions. Included in the Association Book of Resolutions are:

• Resolutions
• Assessment collection policy
• Due process procedures for rules enforcement
• Investment policy
• Design review guidelines and procedures
• Committee terms of reference
• Pet rules, parking, use restrictions