ABOUT IMC

Residential & Commercial Association Management | Maintenance

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More residents refues to pay dues Article from the Island Packet, May 19, 2008

RESIDENTIAL & COMMERCIAL ASSOCIATION MANAGEMENT
We consider the following to be our Management Objectives and Responsibilities with respect to our residential/commercial association management services. 

COLLECTION OF ASSOCIATION FEES
We receive association fee payments daily.  Each day, these payments are opened, reviewed, processed, copied and deposited at the bank.  We also offer ACH/Direct Draft to all property owners at no additional cost.

ASSOCIATION ACCOUNTING
We perform all necessary accounting for each association.  We use the accrual method of accounting.  Financials are prepared, reviewed by our staff, and transmitted to all Board members on or about the 20th of each month or as contracted.  Reports include a Balance Sheet, Revenues and Expenses (P&L), Trial Balance, Monthly Check Register, Budget Variance Report (monthly and year-to-date) and an Aged Receivable Report.  Other reports are available on request.  We reconcile all bank accounts each month.

INVOICE PROCESSING
We receive and process all vendor invoices for the association and are diligent about paying them in a timely fashion.  This includes receiving the invoices, reviewing them with the budget, printing and signing the checks and mailing same.

BUDGET DEVELOPMENT & BUDGET VARIANCE REPORTING
We are as active in your budget preparation as you want us to be.  Normally, we will completely prepare your budget for review by the Board of Directors or a Budget Committee.  We do, at the very least, review any budget prepared by others and offer our comments.  Our accounting software prepares a "Budget Variance Report".  This report is reviewed monthly for variances and explanations are provided on request.  In addition, we are particularly sensitive to funding any budgeted reserves.

AGED RECEIVABLES / DELINQUENT NOTICES
In the first week of each month, we review, in detail, the aged receivables for the previous month.  We attempt to contact each owner, as well as mail out delinquent notices and accounts receivable histories.  Once we reach each delinquent owner, we spend time with them reviewing their balance and payment history. 

COLLECTIONS PROCESSING
In line with a Board of Directors approved procedure, we remain involved with all accounts turned over to an attorney for collections.  This involves running up to date account histories monthly, intercepting payments that must go to the attorney for anyone who is in collections, plus corresponding with the collections attorney and the Board of Directors to resolve collections issues.

PROCESSING ATTORNEY'S BILLS
Our office receives all bills for services from the association's attorney.  Invoices for association business are charged to the Legal-Association and paid in a timely fashion.  Invoices for services that are related to collections are identified, reviewed, processed for payment and billed to the appropriate owner's account. 

CORRESPONDENCE
We correspond with owners regarding matters such as accounting, collections, enforcement of association covenants, warnings, fines, letter and new owner packets.  We deal with the Board of Directors on an "as requested" basis and the collections attorney as noted earlier.  In addition, our office directs and handles all incoming calls from Board Members, vendors, owners, attorneys, rental agents and the real estate community.

INTERNET / WEB ACCESS
IMC Resort Services, Inc. provides a full-service website to both its potential and existing customers.  Each property owner has access to "Owner Information" which provides information related to community-specific topics as well as forms, governing documents and community updates.  In addition, all of our office personnel can be reached via e-mail.

MAINTENANCE OF CURRENT OWNER INFORMATION
We research returned mail to locate owners who inadvertently change their address without notifying us.  We also maintain and update a database on all owners.  This database is used for ordering coupon books and completing mailings to the property owners.  Information that owners provide to us is never sold or given to anyone.

REAL ESTATE TRANSACTIONS / CLOSINGS
We receive requests from Realtors and closing attorneys for information needed to make closings happen at the properties we manage.  We respond both accurately and promptly. 

BOARD MEETINGS
We assume the responsibility for organizing all Board meetings.  This includes notification of all appropriate parties (i.e., Board members, guests, etc.), arranging teleconferences, providing facilities, preparing an agenda, providing personnel to take, edit, copy and distribute minutes to Officers and Directors.

ANNUAL MEETING COORDINATION/PREPARATION
Preparing for an annual meeting involves preparing proxies, tracking proxies (including follow-up calls to obtain a quorum) and accurate verification of attendance.  Additionally, ballots for Board Member positions and elections are provided and supervised by IMC Resort Services, Inc.  Coordination of these meetings involves arranging the site, seating arrangements and refreshments, attendance by IMC Resort Services, Inc. personnel for greeting, sign-in, and minute taking.  Post meeting responsibilities entail transcription, editing, copying and mailing the minutes with handouts to the ownership.

FIELD / ON-SITE TASKS
An IMC staff member visits and inspects each of our properties at least once a week to review the service of all vendors and to detect and report any deficiencies in those services. This report is maintained in our office, as well as at Board meetings.  A chronological, property-specific maintenance log is maintained for each of our properties for future reference.  Whenever possible, three (3) bids are obtained for all services over $1,000 and contracts are maintained in our office.  Someone from IMC Resort Services, Inc. is on-call 24 hours a day, 7 days a week. 

MISCELLANEOUS SERVICES
In addition to the accounting services previously listed, we are required to assist auditors in their efforts, including providing facilities, all requested records and further assistance as required.
We arrange to have each association's tax returns filed each year.
We store at least two (2) years records of each association.
We maintain current files for vendors, each unit/owner and general association business.
We maintain the Minute Book of each association.
We provide the labor for all copying tasks required for all the above normal association business.
We provide the resources to assist Board / Committee members with the compilation of quarterly newsletters and distribute them either by mail or email to all owners.

MAINTENANCE

IMC Resort Services, Inc. employs a staff of maintenance personnel as an added benefit to our properties.  The benefits of this staff include:

PROMPT & COURTEOUS SERVICE
Since each member of our maintenance staff is an employee of IMC, the maintenance schedules are managed directly by our office.  Our properties normally are not forced to wait for maintenance by outside vendors.  Considering the labor climate as it currently exists on Hilton Head Island, this factor is extremely advantageous to our properties.

PRICE TO VALUE
The rates we charge for our maintenance staff are lower than any outside vendor could possibly provide.

EMERGENCY RESPONSE TIME
Our properties are normally not at the mercy of outside vendors when emergency service is required.  Someone from our maintenance staff is on call 24 / 7 / 365.

FULLY BONDED & INSURED EMPLOYEES
The fact that every IMC employee is fully bonded and insured allows us to offer our owners the feeling of security that they deserve.