Cooperative Management Services:

  • Accounts Receivable and Accounts Payable
    • Common Properties Management makes collecting dues and assessments easy. We offer a wide range of payment options including online, and automatic payments in addition to the traditional payment methods.
    • Unit owners can access their accounts at any time through our secure website. Common Properties Management can also send monthly account statements via USPS or email, or annual payment coupons so unit owners are always up to date on their payments.
    • Common Properties Management will handle all of your vendor invoices, which are paid weekly. Board members will have access to real-time delinquency reports, and paid and unpaid bills. We also handle all lien waivers.
  • Financial Reporting
    • As a board member, your time is very valuable. We can design a financial report package that is tailored to your unique needs. Common Properties Management has designed a one-page report that gives an overview of your current financial status, that we call the At-a-Glance Report.
    • Annual Tax & Interest statement for each shareholder.
  • Annual Budgeting
    • An accurate operating budget is essential to maintaining your community without major financial suprises. We at Common Properties Management will professionally draft a budget for board review and approval.
  • Reserve Schedules
    • Common Properties Management will review your reserve schedule on an annual basis to ensure the long-term viability of your community. We can also produce a Reserve Data Analysis to help guide the board. A strong replacement reserve will increase the value of your assets.
  • Collections
    • In close collaboration with the board of directors, Common Properties Management will help develop and implement a robust collection policy, to keep delinquency at a minimum.
    • Our legal administrator can fulfill many of the collection activities that many associations pay an attorney to provide, saving the association money.
    • We also work with several real estate attorneys should the need arise.
    • For more information on our legal services click here.
  • Governing Document Development & Enforcement
    • Common Properties Management can offer advice and insight in regards to updating your governing documents.
    • Let Common Properties Management handle your rules violation letters and legal action, if necessary, in a professional manner.
    • Questions can arise about your Bylaws or Declarations; many of those can be answered by our knowlegable staff without expensive attorneys' fees.
  • Resale Disclosures and Dues Current Letters
    • These documents are required by MCIOA before every sale. Common Properties Management provides these documents and reports as required.
  • Cost Effective Maintenance - Interior and Exterior
    • With certified boiler, HVAC, and pool technicians, we can handle most of your interior and exterior common area maintenance needs.
    • Common Properties Management also offers a 24-Hour Maintenance Emergency Hotline.
    • Click here for more details on our maintenance services.
  • Project Management
    • Common Properties Management can produce detailed RFPs and procure competitive proposals from qualified vendors.
    • Upon the submittal of proposals, Common Properties Management will give the Board of Directors a recommendation based on years of experience.
    • We can also oversee those major capital improvement projects to ensure they completed in a professional and timely manner.
  • Vendor Monitoring and Evaluation
    • As a client of Common Properties Management, you have access to pre-qualified vendors through our many industry associations.
What is a Cooperative?

A cooperative can be defined as a business owned and controlled equally by the people who use its services or who work at it.
Cooperative members come from all walks of life, are of all ages, and belong to all income groups. Cooperatives are unique from other business entities in three ways: Member Ownership, Member Control, and Member Benefit.

Member Ownership
When you join a co-op, you invest some amount of money in the co-op. You become a member and an owner. As a member-owner, you’re concerned about whether the business is meeting the needs of its members. By contrast, in an investor-owned business, the owners or investors are concerned mainly with making money.

Member Control
As client/owners of a cooperative, each member casts one vote in decision-making. In an investor-owned business, in contrast, investors cast votes in direct proportion to the number of shares they own—that is, more shares equals more votes equals more control.
A cooperative is led by a member-elected board of directors. The directors are member-owners who have agreed to serve the organization for a specific period of time, and are empowered by members to make decisions on behalf of members.

Member Benefits
A property management cooperative's main purpose is to provide affordable property management services, whose members are charged only for the actual cost of running the business.
An investor-owned property management company, in contrast, is in business to make money, and not to benefit their clients.