CMS will be responsible for the day-to-day management and supervision of the association including all services thereby contracted.
In addition, there is a definite demand for professional agencies to do billing and collection and to work closely with mortgage companies to regain their confidence so that we can encourage them to begin escrowing for maintenance fees on a much larger scale than they are doing presently. This will increase collections tremendously. CMS works closely with the Board of Directors to obtain the highest collection rate possible.
Our services include mailing statements by December 1st for payments due January 1st of the coming year. Delinquent mailings will go out after each assessment statement becomes thirty (30) and sixty (60) days delinquent. After the final delinquent notice, CMS will at the request of the Board, file necessary liens, send separate demand letters or turn the accounts immediately over to the Association’s Attorney.
We are constantly working in an effort to keep homeowners names current. This definitely enhances collections. We are also aware that title companies are invaluable to collection delinquencies at closing. We, therefore, provide them the most immediate and up-to-date information available.
Other duties of CMS will include the following services:
- Maintaining a complete and accurate general ledger of the activities and status of funds of the Association’s accounts
- Submit to the Board of Directors monthly reports of the activities and current financial status.
- Prepare, submit and, if approved by the Board of Directors, distribute checks drawn in payment of the association’s debts.
- Reconcile on a monthly basis the cash accounts with the depository statements.
- Prepare annual budget with monthly budget reviews.
- Make regular inspections of the subdivision to ascertain deed restriction violations that may exist. CMS will prepare letters to those lot owners stating restrictions violated and setting a time limit for said violation to be corrected. Deed Restriction violations will be handled through to correction.
- Provide telephone response to inquiries of property owners concerning deed restrictions, service problems and/or complaints.
CMS will at the request of the Association, take delinquent accounts and handle them under a separate policy for collections. We have the ability to send collection demand letters, file lien affidavits, JP Court petitions and appear in court on behalf of the association to secure judgments on delinquent maintenance assessments.
We would like to point out that fees include all charges for stationary, postage, mileage and etc. with the exception of the annual meeting notices and special mailings that the Board may request. This has proven to be especially helpful in preparing and adhering to the association’s annual budget.
If you are interested in a comprehensive proposal for services for your Association, please feel free to contact us at (281) 296-9775 or email Stella Walleck at email@example.com.