Property Management Services
Chestnut Trails was constructed in 1996 and turned over by the developer to homeowner management in January 1997.
This page provides information about contracted property management services.
Q: Why do we need a property manager?
A: The Association has admittedly survived many years without property
management services. The operative word is "survived". Service on the
Board is inconvenient, time consuming and generally unrewarding. Many
board members have not completed their 3 year terms. More often when a
neighborhood issue has resulted in conflict, individual board members
have abruptly resigned. Even with 105 homes it has not proven easy to
retain even 3 active board members as required by our Articles of
Incorporation. As the Association leadership passed from board to board,
rather than building a history of neighborhood governance, records
and historical documents have been lost. In addition to hopefully
lightening the load on board members the property manager is tasked with
keeping the Association records so they will hopefully not be lost.
Q: When did we start using a property manager?
A: Our first property management company, Condominium Management, was
contracted in mid-2007.
Q: Why did we change our first property manager?
A: Our first property management company turned out to be not
very good at working with our governing documents. Our governing
documents are what make our neighborhood unique, identify the rules we
agreed to when we bought our homes and give the Association authority to
enforce them. Our first property management company would not even read
our governing documents, preferring to make their own rules outside the
authority of our governing documents and placing the Board in a
precarious legal position. They were also deficient in enforcement and
were evasive when the new Board inquired into financial details. After
giving multiple opportunities to correct specific performance issues,
the board terminated their contract for cause and contracted our second
property management company, Sound Property Services, in November 2008.
Q: Why are we changing our second property manager?
A: Property management companies are not easy to evaluate in
advance and although they use somewhat standard contracts with
impressive performance promises are often not so impressive once under
contract. With our second property manager we signed a trial 8 month
contract and spent a lot of time trying to get the property manager to
manage. The board was having to provide the references from the governing
documents, then write the letters and continuously request
followup. Standardizing processes to improve efficiency and ensure all
homeowners are treated fairly was important to the Board but little
progress was made in this area. The Board
identified several specific areas for improvement and signed a 6 month
extension contract
but the improvement just wasn't there. After checking several references
the Board contracted with Brink Property Management beginning January
2010.
Q: What is the property manager supposed to be doing?
A: Managing Agent's Duties:
Agent shall render services and perform duties as Agent of the
Association as follows:
Common Areas:
ð On site visits monthly for property inspections of lots and common
areas.
ð Contract with Vendors to maintain common areas.
ð Purchase or rent equipment, tools,
materials, supplies and other items necessary for
the management, maintenance and operation of the property.
ð Ongoing evaluation of and recommendation for long term maintenance
needs of the common areas.
ð Obtain bids for common area maintenance and major
maintenance projects. Major projects require three bids.
ð Negotiate and retain contracts and services.
ð Liaise with consultants and engineers hired by Association.
ð Recruit, hire, train and supervise, from
off site, all project personnel.
ð Monitor water and sewer usage through monthly bills.
Fiscal and Accounting Services:
ð Coordinate activities to develop a proposed Annual
Budget, for approval by the Board, at least 60 days prior to the end of
the fiscal accounting year.
ð Post and deposit annual dues and assessments.
ð Preparation and posting on individual Lot ledgers.
ð Daily tracking of checking and reserve account balances maintained by
Agent.
ð Payment and tracking of invoices.
ð Monthly reconciliation of all operating accounts and reserve accounts
maintained by Agent.
ð Monthly preparation and distribution of Statement of Cash Receipts
and Disbursements statement to Board of Directors.
ð Assist with preparation of Annual Financial Reports prepared by CPA.
ð Collect assessments as provided in the Declaration and follow up on
all delinquencies to effectuate collection of all amounts owed.
ð Preparation and mailing of delinquency notice and collection letters.
ð Arrange for Collections in accordance with the laws of the State of
Washington and arrange for Liens when directed by the Board of
Directors.
Records and Correspondence:
ð Maintain all financial records of the
Association and its members for a period of 6 years in accordance to
GAAP and deliver back to the Board of Directors, rather than disposal.
ð Maintain individual files for each owner together with
all documents covering each lot in the project.
ð Maintain complete files for all correspondence.
ð Maintain current owners' lists as provided by supporting
information.
ð Research and maintain all data pertaining to new or
transfers of ownership, including transfers of voting rights.
ð Regularly mail to all owners, those items designated by
the Board.
ð Prepare, duplicate and mail special mailings of newsletters requested by the Board of Directors.