Frequently Asked Questions
How can we serve you?
The Management Trust is privileged to represent more than 1,500 community associations nationally, providing innovative concepts for their development and operation. We remain keenly aware of each of our community association’s needs, making them better places to live. Here are some frequently asked questions and answers about our services.
What types of community associations do you manage?
Our job is to manage. Seems like a simple concept, but it’s a unique one in our industry. We work with you to establish objectives, then proactively turn your vision into reality. At The Management Trust, we understand that each community has a unique personality that is the sum of the individual residents. That is why each community association we manage is handled in a unique way.
Our experience allows us the expertise to manage any type of project, and specialize in everything from Homeowner and Condo associations to Large Scale and Master Planned communities. Are you in a specified Active Adult Community, High Rise, or Mixed Use development? We have a management team that is trained and certified to remain mindful of your goals and maintain your high expectations. For communities that have Declarant involvement, The Management Trust regularly works with both boards and builders to ensure the community flourishes upon completion.
Do you offer services for financial management independently?
We sure do. The Management Trust’s community association financial management services are not only included as part of our full service management program, they’re also offered independently to community associations requiring only financial management. All of our financial operations are SSAE 116 compliant and are highlighted by our TrustLink proprietary software. Our financial services include:
FINANCIAL STATEMENT ORGANIZATION & MONTHLY STATEMENT PREP
Customized for each association and includes: balance sheet, reconciled bank statements, current month actual and budget and year-to-date actual vs. budget comparison information.
RECORD KEEPING SERVICES
Timely and accurate financial record management
Help monitoring the reserve funds of community associations and providing practical investment solutions.
If the dues remain outstanding, The Management Trust executes their collection processes in accordance with the Board-approved delinquency policy.
Offered for our homeowners’ convenience.
VENDOR BILLINGS MANAGEMENT
When vendor invoices are received, they are researched by our accounts payable department to ensure that they have not previously been paid and that vendor work has been completed. Bills are coded and categorized, ensuring expenses are correctly delineated in financial statements.
The budget is prepared by our accounting department and is reviewed until we’re confident that it is accurate and comprehensive. The budget is then provided by the manager in the board package, for review and approval, well in advance of the annual deadline.
Your community association manager provides the Board with proposals from various, reputable independent audit firms. Once the Board chooses an auditor, our accounting department provides all requested documentation to ensure ease of review and reporting.
Escrow demand statements and change of ownership records, among many other certifications and verifications, are produced by our in-house escrow staff on behalf of the association.
What services do you offer to builders and developers?
The property development teams at The Management Trust possess a wealth of experience and practical involvement in the planning and management of homeowners and condominium associations. We provide our builders and developer partners with expertise and services poised to help them build strong, successful community associations.
The Management Trust knows what the departments of real estate want to see in each state we operate in. Providing it to them on the first submission saves our clients time and money. We review plans and make recommendations on common area amenities, security features and other building-related systems.
Employees at regional offices throughout The Management Trust share best practices and experience in all types of communities, from high-rise, mixed-use projects, to master planned communities, to those with environmental considerations including water quality or lake and stream issues.
Our property management development teams also provide insight on working efficiently with architecture and engineering firms to remain vigilant about common design pitfalls and oversights, as well as, produce quality results in all aspects, from initial budget preparation to transitioning the management to the community association.
So, to recap, we help prevent unnecessary costs and delays, and equip property development partners, builders and community associations for success, by providing support at every stage of the process. Building a community is hard enough, we make setting up the HOA easy.