Worth Ross Management Company Inc. AAMC

About Worth Ross Management Co., Inc.:

Managing a Home Owner Association requires additional skills on top of those necessary to be a successful property manager – effective communication, proactive leadership and financial acumen to name a few. The HOA manager may also act as an 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: