Common Interest Community
Prudential Towne Realty condominium and home owner association managing agents have over 25 years experience. Each are licensed by the Commonwealth of Virginia and member in good standing with the Community Associations Institute. Great pride is taken with long-term relationships established with Boards of Directors and unit owners.
Some of the standard duties perform in service to associations are:
Prepare and mail notices, proxies, ballots and agenda in accordance with the requirements and provisions of the By-Laws, if requested to do so by the Board of Directors.
Attend all meetings of the Board of Directors or Association as requested to provide a management report.
Maintain all financial records of the Associations and its members.
Prepare and submit Resale Certificates in accordance with applicable statutes.
Prepare a recommended Annual Budget at least (60) days prior to the end of the fiscal accounting year, which will serve as the basis for monthly fees for the ensuring year.
Monthly preparation and distribution of Income and Expense Report, Cash Flow Statement and Budget Comparison to the President of the Board of Directors, and/or others as designated.
Preparation and posting on individual unit accounts.
Preparation and mailing of delinquent notices
Follow up on all delinquencies to effectuate collection of all amounts owed. Any court costs or attorney fees to be paid by the Association and reimbursed as appropriate from owners at the discretion of the Board of Director.
Prepare insurance specifications for bid proposals, and secure bids under direction of the Board of directors and/or Insurance Committee.
With the approval of the Board of Directors, place appropriate insurance coverage for fire, Board of Directors, Managing Agent, liability, fidelity bonds, statutory and other approved forms of insurance coverage at the expense of the Association.
Assist in processing insurance claims against the property.
Solicit bids from contractors and supervise the successful bidders for corrective work on common/limited common elements discrepancies.
Inventory all furniture, equipment, tools and supplies, or shall recommend purchase of same where necessary
Maintain businesslike relations with owners and tenants and shall respond in systematic fashion to requests for services.
Negotiate and retain contracts and services, including utilities, fire equipment, lawn services, building equipment, and other contract services.
Rosemary Dorow - (757) 630-3367