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Frequently Asked Questions

Frequently Asked Questions and Answers for First Coast's Role in Association Management Proposals

Property Management Services Provided

Who from First Coast will attend the Monthly Board meeting?

Typically, the property manager will attend one Board Meeting per month and the annual membership meeting. However, depending on the size and needs of the community, meetings can be scheduled more or less frequently to accommodate individual association needs.

Does our association have to take the minutes of the meeting?

First Coast will arrange for transcription of minutes upon request of Board secretarial services provided at rate of $35.00 per hour.

Who is responsible for attendance at Annual Meetings and proper notification of meetings as required by Florida Statutes and governing documents?

Your First Coast Property Manager will notice annual meetings in accordance with Association documents and Florida Statutes and will attend and facilitate Annual membership Meetings and any associated elections.

What are the parameters for property inspections?

First Coast will inspect the Common Property, which is to be maintained by the Association under the Declaration, Articles or By-laws, to be maintained according to the standards acceptable by the Association, subject to limitations imposed by the budget. The Agent shall inspect the Community at often as necessary to assure that all maintenance is being performed in a timely, satisfactory manner.

What is the process for reporting non-compliance property related issues?

Your First Coast Property Manager will send notice of non-compliance to homeowners as required following their property inspections and will also send notice upon notification of a documented or confirmed violation from a Board or Association member.

What system is used to keep track of violations and notices?

At First Coast we use an automated tracking software for our industry TOPS Violation Tracking System.

What is the communication process between First Coast and our Board of Directors?

The Board may communicate with the management office via written correspondence, phone, fax and e-mail. Every reasonable effort will be made by the management company to respond within 24 hours of such communication.

What is the communication procedure with Homeowners regarding complaints?

First Coast will maintain business-like relations with persons or entities subject to the Declaration whose service requests shall be received and completed or, after reasonable investigation, be reported to the Board with appropriate recommendations. If a complaint required legal assistance to secure its resolution, the Board will be so informed and the Agent will take no further action until or unless the Board so authorizes.

How does First Coast manage and select its contractors and vendors?

First Coast will investigate, hire, contract with and supervise such personnel and independent contractors as the Agent deems necessary to properly maintain and operate the Community as well as the Common Property in the manner more fully specified in the Documents. In choosing independent contractors, the Agent will make every reasonable effort to obtain three written qualified proposals for any contract over $2,500.00, the final approval of which will come from the Board. The agent will require all independent contractors performing services for the Community to provide the Association with active certificates of insurance for workman's compensation, general liability and property damage. The Agent shall recommend to the Association qualified contractors.

How does our Association Manager work with different committees within the community?

The Property Manager will assist the committees in performing their duties as outlined in the individual committee charters and will assist with the development of committee charters as necessary. Your First Coast Manager will also act as liaison between committees and Board of Directors.

Who will handle the clubhouse reservations and rentals?

First Coast will administer clubhouse reservations for an additional fee to be mutually agreed upon by the Board and First Coast. There is no fee if this service is administered by on-site Association personnel.

What is the approximate turnaround timeframe for transfer of records?

First Coast seeks to transfer records within 30 days.

Outside Service Personnel

Can our Association hire maintenance and other personnel through your company?

First Coast will hire such personnel directly, with the approval of and at the expense of the Association, subject however to budgetary limitations established by the Board. The cost of such personnel is equal to that employee's compensation and benefits and the Agent's overhead attributable directly to that Association's business. The Association shall only be required to pay for the portion of the employee's cost spent for work related to the Community determined by the ratio that the amount of time spent of Association business bears to the employee's total time at work. First Coast shall insure that the Association is covered by policies of insurance against losses Association might suffer as a result of the activities of such employee. The compensation, benefits and expenses of such personnel are to be reimbursed by the Association to First Coast.

 
Accounting Services

What is First Coast's accounting program?

We use TOPS Software, which is the most widely used solution for the association management industry.

Are Financial Statements produced on an accrual basis?

YES

Do owners receive coupons?

YES, Owners are mailed coupons or statements to submit with their regular payments.

Do you offer direct deposit?

YES, BB & T Bank offers owners automatic withdrawals for regular payment dues.

What bank do you use?

BB & T Bank - They provide specialized services to associations including a lockbox system where owner payments are posted directly to their accounts on the TOPS Software.

What is First Coast's payment process in terms of number of times per month bills are paid?

Every week or more often if required.

When can our association expect our monthly financial reports available for board review?

15th – 20th of following month

What is your procedure for preparation of taxes and yearly audits?

The annual balance sheet and revenue and expense statement shall be prepared by First Coast for the Association. These financial reports will be delivered to the members upon request within sixty (60) days following the end of the Fiscal year. First Coast, at the direction of the Board, shall contract for the preparation of the tax returns and for an audit or review when required by law at the Association’s expense.

What is First Coast's delinquent collections process?

First Coast follows a standard collection policy or the policy adopted by the Association. Appropriate follow up is made on delinquent accounts including sending invoices, warning letters, and statutorily required notices prior to filing liens, and then liens are placed by an outside attorney on the delinquent owner’s property.

How does First Coast prepare for the budgeting process?

A proposed budget with supporting assumptions will be presented to the Board in October for review, required revisions, if any, and adoption.

How does First Coast budget for replacement reserves or provide recommendations for such?

First Coast will contract, at the direction of the board and expense of the association, with a company who specializes in providing Reserve Studies on behalf of the Association. Following a completed and approved study, First Coast will facilitate the appropriate transfers from the operating account to the reserve account based on recommendations of the study. Some suggested companies are Reserve Advisors, Trower & Associations and Dreux Isaac & Company.

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