The specific services included in the management fee are determined in the management agreement or contract. There is a listing of our services available on our website under the heading "service offerings". The management fee is determined by the services requested.
Who do I call if there is an emergency?
The Niles Company offers 24-hour emergency service to all their clients - both for association related emergencies as well as issues that may come up in your home that may not be covered by your association. We are only a phone call away - with a live person on the end of every call.
What is the role of the Board of Trustees as it relates to a management company?
The role of the Board of Trustees is dictated in your governing documents. The officers have specific responsibilities as the president, treasurer and secretary specifically. With respect to the management company the Board of Trustees interacts with the association manager on a regular basis; presides over all meetings; and most importantly retains decision-making control.
What is the cost of the management services?
The cost of management services is based on the level of service that the Board of Trustees wants and contracts for. The cost will be based on size of community; services rendered; number of meetings, etc. The management fee is negotiated between The Niles Company and the Board of Trustees.
What do our dues pay for?
Your association dues (sometimes referred to as "assessments" or "fees") are based on an annual operating budget for the association and set by the Board of Trustees based on that budget. The fees cover the annual operating expenses as well as long-range expenses. The operating budget includes items such as lawn care; snow removal; insurance; taxes; utilities; management fees; maintenance and much more.
What do we pay you for?
A management company is paid for the experience, knowledge and understanding of the inner workings of a homeowner association. Also for providing critical resources to associations that promote the preservation of the property and the hassle-free lifestyle of the homeowners. On a day-to-day basis the management company is responsible to maintain the on-going administration of the operations of the property owned by the association and provide financial and administrative services.
If we hire a management company, who makes the decisions?
The Board of Trustees always retains the control of making decisions. It is the responsibility of the management company to gather any and all information necessary to give to the board so that the board can make well-educated decisions. Upon request the board may ask for input and advice, along with a recommendation from the management company.
How does accounts payable work?
All invoices will be directed to our office for processing. The associations' invoices will be approved for payment by the association manager, with any non-recurring invoice that is questionable being discussed with the Board of Trustees prior to payment. Upon request, invoices can be scanned and electronically sent to the treasurer for approval. Once the association manager has approved the invoice for payment electronic checks are cut and signed by an officer of The Niles Company.
Is there a charge for resale disclosures?
Yes, there is a charge for processing requests for documents for both resale purposes and for refinancing. The charge varies based upon the requested documents. The charge is always paid for by the homeowner not the association. These documents are legally required by statute and not part of association business.
What "extra" charges will there be over and above the management fee?
The only extra charges that the association will incur would be any out of pocket expenses that the management company has that directly involve the association. Examples of extra charges would be postage and photocopies. There are very few additional charges over and above the management fee and all are set forth in the management agreement.