Accounting
The most important function of the Board of Directors and your management company is taking care of the Association's money. Our precise accounting practices provide that all parties know exactly where each dollar is and where each dollar is being spent. We deliver reconciled financial statements to all Board members prior to the 10th day of the following month. EPMI provides budgets each year and planning for large future capital improvements.
Lastly, our banking is all done locally, no lockboxes in other state. This means we see every check and every piece of mail. It ensures EPMI is meeting the needs of your Community by actively controlling Association receipts.
General Accounting Functions
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Collect dues by electronic funds transfer or coupon booklet invoice.
•Pursue delinquent accounts in the manner specified in Association By-Laws and the Board of Directors.
•Monitor and pay all Association liabilities.
•Consult with Board or Budget Committee and develop detailed annual budget.
•Customize financials statements to meet the needs of your Association.
•Provide Board of Directors full and current financial statements at every meeting.
•Review progress relative to current budget.
•Deliver financial statements to a CPA for annual audit and tax filings.
General Maintenance
•Execute planned and/or preventative maintenance after proper notification and consent.
•Complete requested maintenance correctly and to the satisfaction of
the community member.
•Provide 24 hour emergency maintenance.
•Bid out and monitor progress of snow removal, lawn service, landscaping,
irrigation systems, tree service, etc.
•Contract all exterior condominium improvement and maintenance.
Your property manager will conduct regular site inspections. In some cases, those inspections will be to examine specific areas of the community or to check on work being done.
They will also complete regular walkthroughs to ascertain the overall condition of the community.
It is also important that each owner communicate any issues they see in the community. Please take a minute and send us an email or contact us by phone.
Site Management Functions
•Bring By-Law violations to the attention of the Board and take recommended action.
•Inspect completed work orders.
•Inspect work done by seasonal contractors.
•Form a strong relationship with your community.
•Utilize experience to avoid future problems.
Often communities don't have the need for all the service offerings. We provide some of our services a la carte. This is important to Associations that may only have needs in certain areas or on a temporary basis.
Accounting Only
EPMI provides full accounting services and delivers reconciled monthly or quarterly financial statements. This works well for smaller Associations that would prefer to maintain the common areas themselves but don't have the time or knowledge necessary to manage the finances.
Project Consulting
We are licensed contractors and can provide project management. This works well for Association who are in need of larger capital improvements that require some knowledge and oversight.
Developer Consulting
EPMI provides consulting for builders and developers throughout the construction process. This service ranges from Association funding strategies to full service management of the Association during the construction phase.
Reserve Studies
These studies include both a physical and financial analysis of your Association. It is important that each Association have realistic expectations of future capital improvement costs. Proper planning ensures an equitable funding plan for decades to come.
