Mercantile Property Management Corporation specializes in condominium and homeowner association management and facilitating developer turnovers. We tailor our services to meet the needs of your property by providing either a comprehensive property management plan or selected management services to meet the specific needs of each client. Our mission is to maintain the financial success of your investment and alleviate the Board from the responsibility of daily association management. We are a hands-on company and believe that communication is the key to our success.
Our services include:
- Respond to unit owners’ calls and requests by resolving any issues and communicating to the Board.
- Attend Board meetings and annual Homeowners meeting.
- Monitor the rules and regulations, report violations and assist Boards with enforcement.
- Work with the Association’s legal representatives to resolve litigation and collection matters.
- Act as the interface between the Board and the owners of the property.
- Maintain association records and minutes.
- Create and release new unit owner welcome packages.
- Community Website or Portal, client password protected, provides downloadable association documents and newsletters, event calendars, email homeowner communication and much more.
- Collect maintenance fees and other operating charges and assist in the collection of any delinquent charges.
- Pay all approved vendor expenses on behalf of the association.
- Prepare annual operating and capital budgets.
- Prepare monthly and annual financial reports. Monthly reporting include: reconciliation of the operating budget to actual expenditures and receipts and explain variances. Financial reports are transmitted via email.
- Maintain segregated bank accounts for all Association funds.
- Solicitation of bids from qualified agents and carriers for the renewal of the master insurance policy.
- Reporting, oversight and administration of insurance claims (additional fee).
Staffing and Benefits
- Monitor of onsite staffing.
- Hiring, training, supervision and termination of onsite staff.
- Payroll service, health benefits, group life and disability insurance, retirement plan and workers compensation for eligible onsite staff.
- Create a continuing preventative maintenance program.
- Track maintenance calls and repairs via computerized maintenance logs, which clients may receive a copy of monthly.
- Solicit proposals and perform interviews, as appropriate, with vendors, providing insurance, accounting audits, engineering assessment, waste removal, maintenance contracts and other services.
- Utilize bulk buying power and competitive bidding to obtain optimal pricing for supplies, equipment and services.
- Oversee the vendor’s performance of on-going services and repairs at the property.
- Perform site inspections and notify the Association of recommended improvements.
- Provide 24 hour emergency maintenance response.
- Oversight of major capital improvements and repairs. (This service is at an additional fee. It includes development of project scope, coordination with Architects and Engineers, bidding, contracting, project oversight, contract management and communication with the Association.)