Yes. TMG 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, TMG sends a timeline request for documents to the current management company. TMG 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.
TMG does not have a CPA on staff; but, TMG requires all staff accountants to have a Bachelor’s Degree and specific experience requirements. TMG works with a variety of CPA firms in the coordination of tax returns, audits, etc.
Before the 20th of the month financials are provided.
Yes. All communities TMG manages may keep relationships with current vendors. TMG requires vetting of vendors to ensure proper licenses, bonds, and insurance. TMG uses 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.
Jenark is our software system, which is an HOA Management-specific software. Administrative and accounting team members both use this system.
TMG carries Employee Dishonesty coverage in the amount of $1 million per occurrence. This covers any fraudulent actions by TMG 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 TMG are signers on the day-to-day operating account.
TMG uses Alliance Bank for day-to-day operations. The Board can keep relationships with other banks. TMG has associations with many bank accounts at all banks listed.