Worth Ross Management Company

Rental Property Management Information

At Worth Ross Management Co. we know that every property is different, so we'll start by developing a plan that addresses your individual needs. Here is a summary of the services we will provide for you:

• Determine the market rental rate for your property, taking into consideration not only the condition of the property and the amenities, but also the market conditions.
• Aggressively marketing your property to insure maximum exposure and rental rate.
• Extensive screening of prospective tenants.
• Rent collection on the first of the month.
• Deposit your money directly into your bank account.
• Monthly and yearly reports to make your year end tax preparation easy and our report are viewable through a secure web site.
• Tenants are provided an after-hours phone number so they may contact a WRM employee at any time in an emergency.
• A network of reputable contractors that insure low cost repair and maintenance.
• Provide a newsletter every other month so you can stay current on issues affecting your property.

Association Management Information

Managing a Association requires additional skills on top of those necessary to be a successful property manager. The HOA manager may also act as agent for the association and provide administrative services for the association members (or owners) and their Board of Directors. Additionally, the level of detailed accounting also increases due to the filing of tax returns, reserve accounts, special assessments and the fact units may be bought and sold daily.

Worth Ross Management Co, Inc., provides services in four basic categories:

Administrative Services:

• Prepare and mail notices, proxies, ballots and agendas in accordance with the requirements and provisions of the Declaration and the By-Laws of the Association.
• Guide and assist members of the Board in the performance of their obligations.
• Guide and assist the Board in the development of policies and procedures.
• Assist in the administration of the provisions of the Declaration, Articles of Incorporation, By-laws, rules, regulations and policies of the Association (the "Governing Documents").
• Maintain all records of the affairs of the Association and the Board, including the Declaration, Articles, By-Laws, rules and regulations, policies, minutes of meetings and copies of contracts.
• Maintain registers of the Owners, Officers, and Directors and such other registers or schedules as may be required by the Governing Documents.
• Maintain business relations with owners/tenants, and assist in resolving individual owner/tenant requests as they pertain to the administration of the Association, Common Elements, and governing "Rules and Regulations".

Fiscal Services:

• Assist in the preparation of an annual operating budget for the ensuing fiscal year.
• Prepare and distribute the monthly financial statements to the Board.
• Assist in performance of audits in conjunction with auditors appointed by the Board.
• Assist in the collection of all assessments and other charges due by owners; maintain checking, savings and other income accounts on behalf of the Association and maintain records of the Association.
• Mail notice of delinquency to any owner in arrears, exert reasonable efforts and take such reasonable action for the collection of the delinquent assessments as the Board may determine in accordance with the Governing Documents and adopted policies and procedures.
• Make all disbursements from assessments collected for normal recurring expenses as provided in the budget.

 Physical Management:

• As Managing Agent we will cause the property to be maintained as directed by the Board, and as provided for by the operating budget.
• Make physical reviews of the property.
• On behalf of the Association Managing Agent will monitor the performance of independent contractors and/or employees required for the operation and maintenance of the property.
• Negotiate and execute on behalf of the Association, contracts for utilities, trash removal, landscaping and such other services as may be necessary and advisable. Managing Agent shall also purchase on behalf of the Association such equipment, materials and supplies as are required or necessary for the proper maintenance of the property.

Insurance:

• Assist the Board in matters relating to protection of the property against risks. And with the approval of the Board, place appropriate insurance coverage for fire, general liability, fidelity bonds, statutory and other approved forms of insurance coverage.
• Assist in processing insurance claims against the property. Investigating, reporting, supervising and following-up on payment on insurance claims for damages covered by the Association's insurance.

We feel that constant communication and shared goals are the keys for a well operated Home Owners Association. Therefore we suggest associations provide as much information as reasonably available to the members. Worth Ross Management Co. offers members of the associations we manage the following information available on our website:  Association News, Notice of Meetings, Minutes of Meetings, By-laws & Documents, Maintenance Requests, Annual Budget, Monthly Financial Reports, and Contact Information

If you are interested in learning more about our services, contact us today for a free quote!