Yes. AMS currently has several properties with full rehab projects to targeted rehab projects. The costs range from $500,000 to $6.5 million. We currently have 28 out of 144 Associations with serial monthly assessments. Our Accounting Team has this process perfected. They also provide detailed monthly financial updates.
Upon signing of the Management Contract, AMS sends a timeline request for documents to the current management company. AMS staff will then begin working through the documents. They will also meet with the Board or a designee of the Board to get a better understanding of operations. This includes basic day-to-day processing information, review current …
The owner and/or person requesting the resale certificates pays for them. There is no cost to the association.
AMS does not have a CPA on staff; but, we require all staff accountants to have a Bachelor’s Degree and specific experience requirements. AMS works with a variety of CPA firms in the coordination of tax returns, audits, etc.
Financials are provided before the 20th of the month.
Yes. All communities AMS manages may keep relationships with current vendors. We require vetting of vendors to ensure proper licenses, bonds, and insurance. We use a third-party processing company, NetVendor. They screen backgrounds, licensing and insurance requirements. This adds another layer of protection for the Board and to the Community.
Caliber is our software system, which is an HOA Management-specific software. Administrative and accounting team members both use this system.
AMS carries Employee Dishonesty coverage in the amount of $1 million per occurrence. This covers any fraudulent actions by our staff. It also covers financial losses incurred by contracted clients.
Board Members are signers on all Reserve accounts, CDs, money markets, etc. Corporate Officers for AMS are signers on the day-to-day operating account.
AMS uses Alliance Bank for day-to-day operations. The Board can keep relationships with other banks. AMS has associations with many bank accounts at all banks listed.