Services

The selection of a property management company can be the most important decision a Board of Directors will make. The proper choice can ensure a smooth operating community, both physically and financially. The wrong choice can throw a community in turmoil. Let us highlight some of the reasons that we feel Elegant Homes Property Management is the right company for your service.

The property management services we provide are broken down into three categories:
• MAINTENANCE MANAGEMENT
• FINANCIAL MANAGEMENT
• ADMINISTRATIVE MANAGEMENT

Our clients and their needs are the focus of everything we do. We strive for excellence and innovation in our services, in their creativity, appearance and value. Continuous improvement is essential to our success.

Once we ascertain your goals and objectives for the property and we analyze existing conditions, then we may begin to develop and implement a management plan which is custom-designed in order to achieve the short and long term objectives.

Whether you’re a Condominium under F.S 718 or HOA under F.S. 720, Elegant Homes Property Management will maintain your association like it was our own.

FINANCIAL MANAGEMENT

Elegant Homes Property Management shall be given the authorization to bill and receive rents, assessments, dues and other amounts which may become due by the residents or tenants. All monies received from the property will be deposited in an account under the HOA, Association or owners name. Elegant Homes Property Management provides one of the best accounting services in South Florida.

The financial services we provide are but not limited to the following:
• Firstly all security and reserve funds, invested in other accounts excluding the operating account, shall be under the sole control or the owner/or association and not under Elegant Homes Property Management. Elegant Homes shall have no signing authority on these additional accounts.
• Elegant Homes Property Management will use the chart of accounts as per-determined by the Association’s/ Owner’s CPA.
• Elegant Homes Property Management will use its computerized payable system which would include that all checks are computer printed.
• All record of assets, income, liabilities and expense shall be maintained using either the accrual or cash-basis accounting principals as determined by the owner’s or association’s certified public accountant.
• Association/Owner/Corporation will be responsible for providing initial financial records with verified opening balances and general ledger accounts.
• The other documents to the extent of availability to be furnished to Elegant Homes , but not limited to any prior audits, financial reports, bank statements, accounts receivable summaries, accounts payable summaries, vendor files, etc.
• Produce check requisitions. Monitor all expenses
• Review checks & invoices…. including the city water bill and FPL bill.
• Maintain files on tenant/residents and vendors containing payment information and /or invoices.

Collecting on Delinquent units
Between 2007 and 2010, over 42% of the units in Condominiums and HOAs went into foreclosure and association fees stopped coming in. Many associations did not have cash to pay bills or keep the property up. Elegant Homes Property Management reached out to the Boards of Directors, The Attorneys and unit owners. We started with a simple idea:
• The first step to good collections is to be on top of the small amounts currently due and not let them slip into major collection efforts.
• Associations’ foreclosures- Since 2009 Elegant Homes Property Management have recommended to some of our Associations to foreclose, take title, and then rent those units. That rent is Association income. In some instances the Association had owned these units or homes for years collecting thousands of dollars, more than what was originally owned.
• File a motion to compel, the banks foreclosure the bank will be required by law to move forward with their case, so that you can get a paying homeowner in that unit or home and you receive your assessment again every month.
• Elegant Homes Property Management lowers the management fee.
• Review all the vendors contract to lower fee or change vendors.
• We lower the maintenance fee by $10.00 minimum
• Payment plan with unit owner
• At Elegant Homes Property Management, we will knocking on door-to door of unit owners who are 90 days late on their HOA/ Association maintenance fee before turning it over to the attorney.