- 1-Year contract for management services. The Association may cancel the contract within the first 3 months with no penalty.
- If the association does not already have one, Association Experts will contract for a PO Box at the Forest Lake post office on behalf of the Association. This PO Box becomes the Association’s mailing address.
- If the Association currently has its own checking, savings and investment accounts, they may keep them. If the current accounts are under the control of another management company, Association Experts will assist the Association in setting up new accounts at a bank of their choice. Association Experts has a relationship with Lake Area Bank that offers associations attractive rates and services.
- Association Experts prepares checks for payment of bills, but does not sign checks on behalf of the Association. Association Experts presents checks to the Association’s Treasurer or other authorized signer for signature. This can be an electronic process.
- The Association will carry Directors and Officers and Liability Insurance that also covers the Management Company. The Management Company carries its own liability insurance.
- The Management Company will conduct a detailed property inspection spring and fall, and make recommendations for needed repairs or maintenance. The Management Company will conduct less detailed inspections as requested by the Board of Directors.
- The Management Company will maintain the Book of Records for the Association, along with storing all other Association documents and make sure the annual corporate registration is completed.
- The Management Company will contract for maintenance services for the common areas with as much or as little Board involvement as the Board desires.
- The Management Company will contract for common services for the Association including insurance and tax preparation services.
- The Management Company will prepare the annual budget for Board approval. The Management Company will assist the Board in preparing a reserves plan for the Association.
- The Management Company will attend all Board meetings and the Annual meeting of the Association and will prepare all materials and mailings needed for the meetings.
- The Management Company will take phone calls from unit owners and respond to owners’ requests as directed by the Board of Directors.
