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Residential Condominium Associations / HOAs
Residential Condominium Associations benefit from NEPREM's tailored management services that enhance the quality of life for residents, ensure compliance with regulations, and maintain well-kept community spaces. NEPREM prioritizes transparency, communication, and proactive management to support the needs of HOA communities.
Key Services for HOAs
Community Management:
​Regular inspections, enforcement of HOA rules, and support for meetings, which help foster a quality living environment for all residents.
Financial Management:
Comprehensive budgeting, monthly and annual financial reports, invoicing, and secure online portal access for HOA financials.
Maintenance Coordination:
Vendor management for services such as landscaping, snow removal, and repairs, ensuring shared spaces are kept in pristine condition.
Owner Engagement:
Facilitate communication with HOA board members and owners, offering updates, support for annual meetings, and regular updates on HOA activities.
Management Services for HOAs
Financial Services
Bookkeeping and Accounting:
Handle all monthly and annual financial reports, property bill payments, and track income and expenses.
Annual Budget Preparation:
Collaborate with the board to create a detailed budget that covers repairs, expenses, and reserves.
Monthly Financials:
Prepare profit and loss statements, accounts receivable, balance sheets, income, and expense details.
Quarterly Budget Reviews:
Identify and report budget overages to the HOA board.
Reconciliation and Deposits:
Reconcile all checking and bank accounts, and deposit incoming funds.
Online Portal:
Allow board members and owners to pay dues, view reports, and access financial data via ACH or credit card.
Service Management
Annual Quotes and Contract Management:
Solicit annual quotes for essential services such as insurance, landscaping, snow plowing, and cleaning.
Insurance Management:
Review and manage all policies, distributing updated policies to owners.
Inspection Scheduling:
Coordinate and schedule regular inspections, including stormwater, fire maintenance, elevator inspections, and more.
Claim Management:
Handle insurance claims and work with providers to ensure prompt issue resolution.
Resident Services
Rules and Regulations Overview:
Provide a comprehensive owner and tenant guidebook, including bylaws, condo handbook, and rules.
Resident Communication:
Facilitate day-to-day communication with unit owners, handle owner inquiries, and update the community on ongoing activities.
Portal Access:
Enable residents to view their balance, make updates to contact and vehicle information, and access condo documents online.
Annual Updates:
Organize and manage updates for parking passes, insurance certificates, and other required documentation.
NEPREM’s comprehensive management services for Residential Condominium Associations / HOAs provide a structured, proactive approach that enhances community quality, financial transparency, and operational efficiency. By focusing on key areas such as financial management, maintenance coordination, and effective communication, NEPREM supports HOA communities in creating a positive, well-maintained living environment for all residents.
Our commitment to compliance and streamlined services ensures that HOA boards can operate confidently, with access to essential financial data and resources at their fingertips. NEPREM’s hands-on approach not only preserves property value but also fosters a cohesive, engaged community, making us a trusted partner in HOA management.