Association Management
Yates, Wood & MacDonald, Inc. provides complete professional management services for Condominium Homeowners Associations, Planned Unit Developments and Cooperatives.
Accounting and Budgeting Services
Yates, Wood & MacDonald, Inc. believes handling our clients’ finances properly is our highest duty. We are particularly proud of our accounting and budgeting capabilities and believe we are one of the best in the business. We are proud of the education and years of experience in accounting, finance and analysis of our key personnel.
We utilize a state of the art highly customized accounting and property management software system that provides a complete audit trail and flexible management reporting. This system offers an online portal where board members can track what is happening with their property by reviewing invoices, financial reports, work orders and more. Â There is also a convenient portal for homeowners to review their accounts, make payments, and submit work orders. These two features offer our clients a high level of transparency with regard to the services we are providing.
Maintenance Services
We believe the primary duty of a Board of Directors is to maintain and enhance the value of each owner’s investment. To help accomplish this, the association manager recommends options for the most cost effective ways to maintain a first class property. The supervision of common area maintenance including, lobbies, hallways, roofs, exterior walls, parking areas, and landscaped areas can be a very challenging undertaking. It is important for the association manager and the Board to work closely together in developing expectations regarding common area upkeep. The Board of Directors establishes the policy and to implement the policy, the property manager:
- Develops a program of preventative and remedial maintenance, custodial services, and efficient supply acquisition consistent with the association’s budget.
- Implements the program for the maintenance of association common property
- Facilitates the acquisition of bids for projects based on established specifications. Our long history with a variety of vendors and contractors, combined with the volume of business we do, allows Yates Wood to access to the most competitive prices available.
- Supervises a project to its completion, follows it through the punch list stage, and coordinates Board approval for payment
- Responds to emergencies during and after business hours via our 24-hour answering service.
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Administrative Services
The association manager in conjunction with our experienced support staff:
- Provides consistent and timely enforcement of rules and regulations.
- Provides informational welcome packets to all new homeowners.
- Coordinates periodic mailings to owners and maintains a current membership roster
- Maintains all the association records including financial, minutes, correspondence, contracts, leases, insurance, tax and audit records, and agreements for common area alterations. Keeps association corporate record books, serves as agent for the association, files the Annual Report of Nonprofit Corporation with the State and acts as the Board liaison with financial auditors and legal counsel.
- Provides the required disclosures documents for your association, including resale certificate, lender questionnaire, and escrow demands.
- Secures quotes for association master policy insurance premiums.
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