Crescent Property Management
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Association Management

We manage a range of associations throughout the DC area. Our management philosophy is simple: treat others the way we would want to be treated. We break down management into three areas: communication, finance and physical assets.

Communication

The key to our success. One of the most frequent complaints we hear from communities seeking new management is that their current company is slow to respond or even unresponsive to the Board and community. We are keenly aware of this and make a point to focus on communication as part of our strategy for success.

CPM managers are equipped with the latest technology in order to be able to quickly respond to e-mails, phone calls, or in person inquiries (including 24 hour coverage). Our company policy is to acknowledge all communications within a few hours. If we do not know the answer, we will acknowledge your inquiry and find the answer.

Most importantly, property managers are expected to be on-site often and meet the members of the community. We know that at its core property management is a people business. We want to know our owners and firmly believe the personal touch makes us better managers.

Other communication duties include:

  • E-mail notifications to the community about important events or notices
  • Timely distribution of minutes, newsletters, Board notices, payment coupons and other required notifications
  • Maintaining up-to-date contact information for owners and residents
  • Proper and timely notification to all owners and residents of board, annual, and special meetings

Financial

CPM provides comprehensive financial services for your community. Our goal is to provide the Board and community with clear and correct information in a timely manner in order to facilitate responsible decision-making. We understand that often the “numbers” part of being a Board member is challenging; we will present the financial information in easy to understand language and graphs and help guide the Board in making financial decision.

The most important tool we use is the monthly financial report, which includes:

  • A one or two page executive summary of the month’s highlights.
  • A complete set of financial statements for the prior month
  • A copy of all bills paid on behalf of the association.
  • A copy of blank statements
  • An easy to read aged A/R report and A/P report

Our services related to finance also includes:

  • Preparing annual budgets on a timely basis
  • Reviewing current contracts for possible savings an updating expired contracts
  • Negotiation of contracts (including soliciting bids on larger jobs)
  • Paying bills each month on a timely basis
  • Managing and overseeing vendors, work being done on the property, contract enforcement and renewal
  • Condo fee and special assessment calculation and collection
  • Working with legal counsel for filling liens
  • Reconciling all bank or other financial statements on a monthly basis
  • Preparation for annual audits
  • Working with accountants to complete federal and state annual tax returns
  • Collection of past due assessments
  • When necessary, working with the association lawyer(s) on collection issues
  • Assisting Board in managing reserve funds and cash management
  • Managing the association’s banking relationship
  • Preparation and mailing of payment (coupon) books.

Physical Assets

CPM will implement a short – and long – term strategy in order to manage te physical assets of the community.

Our short-term management plan includes:

  • Regular property inspections
  • Quickly following up on maintenance issues to prevent them from becoming larger issues
  • Following up on maintenance contracts to insure their proper and timely execution

Our long-term management plan will focus on the association’s reserve study in conjunction with our own experience and observations.

  • Comprehensive review of reserve study
  • Work with Board to update reserve study at five-year intervals
  • Annual review during budget process of items listed for upcoming maintenance or replacement to determine actual condition of elements and action needed
  • Work closely with Board to insure proper financing is included in the annual budget for long-term capital projects.

Proposal Request

Please fill in the information below. We will contact you within one business day to discuss your management needs. Or, contact us now to speak with a manager.

 

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