Fifth Street’s Residential Division is a full-service property management company dedicated to friendly personal service. It is supported by the processes, procedures, knowledge, and experience necessary to deliver a high quality experience for our clients.
We understand the need for a comprehensive management approach and professional oversight which provide the confidence and peace of mind that our clients deserve. Our long term management strategy is focused on extending the life of the property structure, mechanical systems, and landscaping so that our clients can minimize the expenditure of capital reserves. Our day-to-day involvement is focused on anticipating client needs and rapid response to issues and events as they arise.
Our clients will tell you that we understand the need for open and free communication and that we pride ourselves on our ability to resolve issues before they take on a life of their own.
We understand that management of residential real estate is a balancing act between friendly service and adherence to our client’s direction. That balance is not always easy; however, it is what separates us from many others.
Residential Financial & Accounting Services
- Mail all billing statements monthly to homeowners
- Prepare annual coupon books
- Collect and deposit all payments
- Manage collection of delinquencies
- Reconcile bank statements monthly
- Prepare financial statements on a monthly basis, including general ledger, income statement, balance sheet, bank statements, variance analysis, etc…
- Prepare annual budget
- Generate and mail annual 1099's to required vendors
- Provide account balance to title companies during the sale of homes in community
Property Management Services
- Conduct routine maintenance and violation inspections
- Covenants and Restrictions enforcement
- Bid routine maintenance and coordinate
- Prepare bid specifications for larger jobs and oversee bid process
- Coordinate entire process of handling all maintenance issues in the community
- Manage and oversee all vendors
- Prepare and maintain copies of all correspondence on behalf of the Association
- Respond to all correspondence in a timely fashion
- Maintain homeowner information database and keep current on daily basis
- Create and mail violation letters, architectural requests responses, and other correspondence to homeowners
- Serve as primary contact and liaison for Board
- All electronic Association records are backed up daily offsite
- Provide all required documentation, Covenants, Conditions and Restrictions and Community Rules to new homeowners
- Serve as primary contact for any legal issues in community
HOA Board Meetings
- Attend all board meetings and necessary committee meetings
- Prepare Board packages prior to meetings
- Prepare and distribute agendas, notices, ballots, proxies, etc. for meetings
HOA Annual Board Meeting
- Prepare and distribute all paperwork associated with the annual meeting (agenda, proxy, ballot, minutes, return envelopes)
- Manage all returned proxies and keep Board informed of whether or not quorum has been achieved
- Run Annual Meeting if desired by Board or assist with annual meeting