Integrity plus property managemetn arizona professional#

Annual audit, compilation or review by an independent financial professional (CPA).īoard members are volunteers.

Adequate reserves being set aside for major capital improvements.

Overall delinquencies that exceed 5% of total assessments.

Any major changes in expenses and revenues year over year.

Opportunities for homeowners to address the board during the homeowner’s forum.

Proper notice of the annual meeting and the budget ratification meeting.

Oversight versus nit-picking – Every homeowner has a responsibility to monitor the financial health of their homeowner association. A friendly request will go a lot further than a demand and accusation. You should check to see if you need to put your request in writing or if fees are associated with your request. When requesting financial records, begin with a phone call or email to the board or management company. The board may also delegate this responsibility to a management company. Who has the records? – Ultimately the board is responsible for maintaining and providing access to financial records, however, this may be the developer if the association has not transitioned to resident control. Keep in mind that the association board has a fiduciary responsibility to protect residents’ privacy so don’t ask for a list of homeowners who are delinquent, the bank statement or a copy of the association’s QuickBooks file. What records are accessible? – At a minimum, members should have access to the current budget, an income and expense statement, a balance sheet and a statement of their account. For references to these statutes, check your state’s section of our website under HOA Laws. And finally, association documents such as the bylaws may also provide the basis for access to financial records. Most states also have other general statutes that are specific to homeowner associations and access to records. Your legal rights – Since almost every homeowner association is organized as a non-profit corporation, state general statutes are the first place that a homeowner might look to find the specific laws that require access to financial records. Listed and sold the asset netting the seller over 235% MORE in net proceeds.Simply put, homeowners should have access to appropriate association books and records, and association boards must allow homeowners access to appropriate community records, when requested. Renovated all the occupied and vacant units Successfully convinced the city to waive the outstanding penalties Hired on-site management team and obtained all necessary permits and licenses to operate the hotel

Integrity plus property managemetn arizona code#

Madison Construction, a subsidiary of the Madison real Estate Group, was retained as the General Contractor and immediately cured all deferred maintenance, building code, health and safety and fire code violations. All licenses and permits to operate the hotel were expired Outstanding penalties imposed by the city totaling over $64,000

Integrity plus property managemetn arizona crack#

One unit was caught on fire while the tenant was using crack cocaine Major deferred maintenance throughout the building. Homeless people using drugs in the common area and squatters occupying one of the retail spaces

22% delinquency rate PLUS tenants’ rent subsidies was suspended due to the poor condition of the property 596 building code, health and safety, fire code, electrical and plumbing violations Mixed Use Ground Retail / Hotel – Stockton CA Our mission is to create solutions that will protect and preserve your assets and control exposure while meeting both State and Federal OSHA regulations.

The Madison Real Estate Group is dedicated to providing commercial property management services across California, Nevada, and Arizona that minimizes the liability owning real estate can cause our property owners.