Summary of Property Management Services Provided to Association Clients in Eagle County, Colorado
Meetings:
- Preparation, scheduling, and attendance of board meetings, annual membership meetings, and special membership meetings.
- Preparation and email delivery of meeting agendas and notices, in accordance with Colorado Law and the Bylaws of the Association.
- Drafting and publishing of meeting minutes.
- Hosting of board meetings and membership meetings (via zoom).
Property Inspections, Maintenance, and Repairs:
- Weekly exterior property inspections.
- 24-hour administrative response to association issues is provided by Thurston Property Management.
- 24 hour on-site response to emergencies is provided by 3rd party subcontractors (plumbers and other tradesmen) that are dispatched by Thurston Property Management.
- Maintenance and repair services are generally provided by 3rd party subcontractors billed at the applicable rate, depending on the type of work.
Seasonal Service Contracts and Association Projects:
- Vendor bid acquisition for projects and service contracts (ex: snow removal, landscaping etc.).
- General oversight and supervision of subcontractors.
- Facilitation of invoice approval.
- Administration of Special Projects and Capital Improvements.
Recordkeeping and Documentation:
- Record keeping and delivery of Association records.
- Updating and maintenance of owner and tenant contact information lists.
- Creation of Association website and assimilation of Association documents, notices, forms etc.
- Publishing board approved documents to the Association website.
- Verification of owner and tenant contact information.
Planning and Recommendations:
- Preparation of an Annual Reserve Schedule Worksheet, a tool we create to help our Associations prioritize, plan, and budget for capital projects over the mid to long term.
- Recommendations regarding maintenance projects and operations in general.
Communications:
- Management of daily operations of the HOA including prompt, courteous and professional response to owner communications.
- Communications with Board of Directors regarding Association matters.
- Communications and updates to owners and tenants via email.
- Dedicated team members of Thurston Property Management take and return phone calls from Board members, owners, residents, and their agents, simplifying communications for our clients regarding Association matters.
Compliance:
- Rules and Regulations: Communications, notices, and documentation related to Association rules are handled by Thurston Property Management in a uniform and non-selective manner to keep the Association complaint with applicable laws and the Enforcement Policy of the Association. (Enforcement services for rules, covenants, and the like will be handled by a licensed Colorado attorney engaged by the Association.)
- Thurston Property Management will advise and assist the Association to adopt necessary policies which may be required for compliance with applicable law.
- Thurston Property Management assists the Association to comply with orders from governmental entities with jurisdiction over the property.
Budgets, Collections, and Related Services in Collaboration with Independent Accountant / Bookkeeper:
- Thurston Property Management handles budget preparation and analysis in collaboration with a professional accountant or bookkeeper engaged by the Association.
- Thurston Property Management collaborates with the Association’s accountant or bookkeeper to facilitate collections and manage the Association within budgetary constraints.
- Thurston Property Management assists the Association in hiring an independent accounting services provider or bookkeeper.
Accounting / Bookkeeping services are provided through a 3rd party, rather than in house at Thurston Property Management. This approach reduces liability, improves efficiency, and allows your property manager to focus on providing quality management services. We work with several experienced and reputable accounting companies and bookkeepers. Thurston Property Management will obtain competitive proposals for accounting services for the Board of Directors to consider. This approach benefits the Association and reduces risk for Board Members, the Management Company, and the Association as a whole by separating the responsibilities between Management and Accounting.