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The following lists our Management Objectives and Responsibilities with respect to our

Residential & Commercial Association Management Services...

We receive association fee payments daily. Each day, these payments are opened, reviewed, processed, copied and deposited at the bank. We also offer recurring e-check to all property owners at no additional cost.

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.

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.

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.

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.

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.

Our office receives all bills for services from the association's attorney. Invoices for association business are charged to the 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.

We correspond with owners regarding matters such as accounting, collections, enforcement of association covenants, warnings, fines, and new owner packets. We work 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.

IMC Charleston provides a full-service website to both its potential and existing customers. Each property owner has access to information related to governing documents, community updates and their specific account by logging into the homeowner portal. In addition, all of our office personnel can be reached via e-mail.

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.

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, and preparing an agenda. As well as, at the request of the board, we are able to provide personnel to take, edit, copy and distribute minutes to Officers and Directors.

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 Charleston. Coordination of these meetings involves arranging the site, seating arrangements and refreshments, attendance by IMC Charleston. personnel for greeting, sign-in and at request of the board, minute taking. Post meeting responsibilities entail transcription, editing, copying and mailing the minutes with handouts to the ownership.

An IMC Charleston staff member visits 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. A member of the IMC Charleston team is always on call (24 hours a day, 7 days a week).

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 administrative labor required to complete all of the above mentioned 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.



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Management Info
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