Archives: FAQs

Can you provide examples of your experience with large capital projects, master loans, and serial monthly special assessments, including prepayments of serial monthly assessment?

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.

How will you handle the management transition and transfer of records if we decide to use your services? How will we access historical records?

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 …

How will you handle the management transition and transfer of records if we decide to use your services? How will we access historical records? Read More »

Do you have a CPA on staff?

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.

Can we continue to use our current vendors?

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.

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