DUTIES OF THE MANAGING AGENT

The Managing Agent is responsible for directing all day to day building operations and executing policies of the Board of Directors/Managers. The Managing Agent ensures that the building operates smoothly and that the owners are kept informed of problems and issues as they arise. The principal duties of the Managing Agent fall into the following categories:

BUILDING OPERATIONS
Visit building at least once a week;
Oversight of building maintenance, repairs and cleaning;
Check heating and cooling systems weekly;
Conduct full walk-through inspection monthly;
Ensure compliance with all city laws and ordinances.
Utilize Maintenance Work Order Forms for efficient tracking of all maintenance reported issues;
Purchase of Supplies and Inventory control;
Implement emergency procedures;
Vendor selection and evaluation;
Obtain competitive bids for services and capital improvements.

STAFF MANAGEMENT
Building Manager provides staff training on premises and in office;
Preparation of Employment Manuals & Rules;
Provide the staff with a listing of their duties and responsibilities;
Provide Rules of Conduct to all personnel;
Provide direct supervision of superintendent and other building personnel;
Monitor appearance and conduct of building personnel;
Maintain updated employee files;
Conduct regular staff meetings;
Maintain constructive relations with staff;
Challenge staff to new levels of performance;
Preparation of staff evaluation reports;
Benchmarking pay & benefits

SHAREHOLDER RELATIONS
Review all shareholder complaints and advise the Board accordingly;
Inspect individual apartments as required;
Act as a liaison between the shareholders and the Board so that lines of communication exist;
Provide effective, efficient & timely communication with residents.

COOPERATIVE BOARD OF DIRECTOR RELATIONS
Maintain regular contact with the Board;
Prepare Management Reports/Agenda for Board meetings;
Advise the Board of matters requiring immediate attention and act in an advisory capacity;
Identify and inform the Board of all new government regulations;
Assist in the preparation of long term planning for the proper maintenance of the building;
Provide Board with Performance Evaluation System for determining staff salary increases.

GENERAL ADMINISTRATION
Preparation of bills for rent or maintenance charges;
Insure that tenants or shareholders are billed correctly;
Review monthly arrears;
Initiate legal proceedings for non- payment;
Confer with attorneys as required;
Budget preparation, analysis & control;
Report all accidents and claims to insurance carrier;
Employee payroll processing;
Background checks conducted on all new hires;
Attend all Union grievances and any actions before government agencies.
Maintain a checklist of all permit renewal dates and government required filings. All inspections (boiler, elevator, etc.) are performed in accordance with the date of compliance.

FINANCIAL MANAGEMENT

MONTHLY FINANCIAL STATEMENT
Accurate and timely financial reports are essential to effective property management and appropriate decision making on the part of the Board. Monthly management reports are prepared and distributed by the 15th of the month. Monthly Financial Reports include the following:
• Summary of cash receipts and disbursements
• Cash Journal
• Monthly general ledger
• A budget comparison report
• Accounts payable expense distribution report
• Check register
• Activity Reconciliation report
• Copies of paid bills

ACCOUNTS RECEIVABLE
All maintenance, common charges and rent bills are prepared and sent to owners prior to the first of the month. We do not use a lock box for payments. Payments are mailed directly to our office and processed daily using a check scan system.

ACCOUNTS PAYABLE
All invoices are immediately logged into our management system so that we always have an up to date schedule of accounts payable. The account executive codes, approves and signs all invoices prior to being submitted for payment. No unsigned invoice is paid.

All bills are prioritized; mortgage, interest, taxes, payroll, insurance and utility bills are paid upon receipt.

Review work orders and bills with superintendent prior to payment;

BANK RECONCILIATIONS
Bank reconciliation’s are performed monthly and provided to the building’s accountant on a monthly basis with the financial statement.

PAYROLL
Payroll is handled by an outside payroll service.

The superintendent is required to submit a weekly payroll record to management. Our payroll service processes the payroll, prepares the checks, files the tax forms and deposits the withholdings.

EMERGENCY CONTACT
After normal working hours any emergencies or occurrences will be attended to immediately. We are available around-the-clock to handle an emergency. Our 24-hour answering service contacts the account representative immediately. We have excellent relationships with reliable contractors who can respond quickly.