Barnett Management, Inc. works for and reports to the Board of Trustees/Managers at each Association and our authority comes from each Board. To function effectively, we must meet with, and receive some direction from the Boards on a regular basis; otherwise we handle only those functions for which we are normally responsible.
We arrange for the normal day to day and emergency repairs through our existing contractors unless otherwise instructed by the Board. We also make most purchases for your Association, which may result in a cost savings, because we are able to buy for many Associations and in larger volume.
Barnett Management, Inc. is available to advise the Board on questions concerning the Declaration, By-Laws and/or Covenants, as well as the day to day operation of the Association. In addition to our services listed below, we are responsible for carrying out any duties assigned to us by the Board.
- Invoice and collect Maintenance Fees.
- Keep individual accounting on each unit owner.
- Send delinquent notices.
- Receive and pay bills.
- Balance bank statements.
- Prepare monthly financial statements for the Association.
- Develop yearly budget for Board approval.
- Prepare and pay Workmen’s Compensation where necessary.*
- Prepare Federal Tax Report.*
- Establish reserve accounts where possible.*
- Collect all monies due the Association by any legal means available (liens, courts, etc.)*
CORRESPONDENCE AND COMMUNICATIONS
- Administer all transfers of units, including Letter of First Refusal, insurance certificate transfer and welcome letter to new owner with association fee, payment info, what is covered, etc.
- Prepare, print and distribute bulletins.*
- Plan and attend General Meetings including reservation of hall (if necess, Resident notification and proxy. Conduct general meeting if requested by Board.
- Create and distribute notifications to unit owners concerning violations of Association rules.*
- Establish individual Association files on paid bills, correspondence, contracts, bids, liens, etc.
- Provide a contact for unit owners to report problems, damage, etc. (This includes office hours Monday – Friday, 9:00 A.M. to 5:00 P.M. and a recorder answering service for evenings and weekends. .
Provide all necessary supplies for record keeping, to include files, envelopes, ledger cards and maintenance of old records.
* Association to cover the cost of these items.
SUPERVISION AND SELECTION OF CONTRACTORS
- Advise the Board and help establish specifications for the bids. Prepare, print and distribute bulletins.*
- Secure bids on any items required and suggest where bids are required such as: landscaping, snow removal, insurance, rubbish removal, major repair and improvements. These bids are requested from companies of the Board’s choice or Barnett Management’s choice, or both.
- Verify that bidding contracts meet certain requirements such as: type of equipment, insurance, and any other requirements that the Board may have set.
Monitor the work performed according to the contract terms.
NOTE: We are often able to get better prices through our existing contractors due to volume.
- Prepare and provide necessary information and documentation for all insurance claims.
- Work with insurance companies to ensure claim processing is done in a timely manner.
- Administrate the transfer of insurance when unit is sold.
View Management Procedures
Call us now at 216-831-0165
to review your management service needs!