Self-Management vs. Professional Management 


BMC Services 

Condominium Management

* Included in management fees

 1) Accounting Functions:

 * a) Collection of monthly dues and special assessments when necessary

* b) Follow-up on delinquencies and file liens (Association pays lien & legal fees) when necessary

* c) Provide financial reports and analysis

* d) Submission of year-end report

* e) Accounts payable

* f) Assist accounting firm with preparation of tax return

* g) Consult with Board on investments 

* h) Manage reserve account(s)


2) * Prepare annual budget


3)  Prepare long term capital improvement plan and provide investment counseling


4) Maintenance of common area (interior and exterior):

* a) Administrative time to solicit contract labor

* b) Employ on-site personnel when applicable (wages are an Association expense)

* c) Site inspections (administrative)

   d) Building repairs, compliance and construction supervision

   e) Assist when necessary and agreed upon with punch list administration completion

   f) Provide 24-hour emergency maintenance

   g) Maintenance service to individual owners


5) Insurance:              

* a) Bid out insurance coverage per Board instruction              

* b) Assist Board with insurance claims


6) Board/Association Functions:

* a) Attend Board meetings (two per year are included) Attend Annual Meeting  

   b) Distribute meeting minutes and other Association correspondence (mass e-mails included in fees)

* c) Liaison between committees and/or Board and Association members


7) Resident Services:

 * a) Welcome packages

 * b) Assist with social activities & senior and/or family resource coordination

 * c) Group discounts on items that unit owners may purchase

 * d) Compliance with ADA and fair housing laws, including Board education

* e) Resident correspondence, excluding mailings   

    f) Completion of lender or appraisal questionnaires, provide information to real estate agents, new home owners, title companies – purchases and refinancing

* g) Accept, respond and follow-up to unit owner concerns


8) Miscellaneous Administration:

a) Printing of checks, postage & bank fees

b) 24-hour after-hours message service

c) Newsletter (when applicable) 

d) Legal fees & web software