What Prestige Provides
At Prestige, we organize annual and special meeting of owners, as well as meetings of the Board Association, including the preparation of notices, agendas and other necessary documents. We provide guidance and assistance to the Board in the development of policies and procedures, and in the performance of their obligations. Prestige assists in the administration of the provisions of the Declaration, Articles of Incorporation, By-laws, rules, regulations and policies. All records of the affairs of the Association and the Board will be kept and shall belong to the Association. Prestige maintains registers of Owners, Officers and Directors and such other registers or schedules as may be required by the governing documents. We help resolve individual owner requests as they pertain to the administration of the Association, its common elements and governing “rules and regulations.”
Prestige maintains checking, savings and other banking accounts in the name of the Association, as well as prepares the annual budget. The budget is based on prior operating expenditures, estimated future expenses and required capital reserves. We account for all assessments and other charges due by the owners. Each of the bank accounts is kept separate and apart form all other accounts of Prestige and the accounts are not commingled with any other funds controlled by Prestige. All bills are prepared for Board approval via the online invoice system. This way, the Board has full control over their funds. Additionally, we mail notices of delinquency to any owner in arrears and take such reasonable action for the collection of the delinquent assessments as the Board may determine. Prestige makes all disbursements from assessments collected for normal recurring expenses as provided in the budget and as approved by the Board. We furnish monthly financial reports prepared on a modified accrual basis, which include all income and expenses and reflect the net cash position of the Association. We also assist in the annual audit of the Association, if required.
Architectural Control & Deed Restriction
Prestige inspects the property, observe record and monitor deed restriction violations, contractor performance, and any necessary maintenance required for the common property.
We coordinate and assist in the administrative and secretarial functions of the Architectural Review Committee (ARC), including preparation of standard architectural applications, correspondence to owners requesting ARC compliance or completions of applications, and correspondence with the ARC to assist them in their functions. The property is inspected on a bi-monthly basis for ARC and Deed Restriction violations.
When Prestige Association Management assumes the management of an Association; all facets of the management of the Association are audited. This audit includes:
A review of the governing documents of the Association.
A review of all contracts to determine standards of performance and cost effectiveness.
Analyze all policies and procedures performed.
The Association insurance coverage is reviewed.
An analysis of the Association’s financial position and procedures, including budgets, reporting procedures and financial planning.
A review of the maintenance needs of the physical property.