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Understanding finances is an essential part of property management. Board members find our monthly financial reports easy to read because they relay the current financial status of an association. We format our reports so board members can understand where money is being spent so they can conduct better planning.

We Have Big Ideas

Many management companies rely on outdated coupon books, which do not relay any balance information and can be easily lost over the course of the year. Howard Property Management believes in mailing statements for each billing period, which provides a current balance and detailed information on our account. Members of an association need to know how much they owe in assessments. Our proven collection method of billing increases payment rates in an association. We comply with fair debt collection standards in order to get assessments paid.

Developing an Annual Budget

We work closely with the Board of Directors in developing long-term plans so budgetary figures can be developed appropriately.? We draft an annual budget with you and provide options for assessments. Rely on our expertise in handling your association finances.

Accounting Systems

Our accounting management allows for timely payment to vendors.? We inspect major projects prior to payment to ensure that vendors are doing the right thing. No more sending payments to another state…we process all association payments in house. We pride ourselves in differentiating ourselves from our competitors.

Understanding Condominium Insurance

No other management company understands MD Condominium Law 11-114B like Howard Property Management.? Our onsite support helps determine whether an issue originated from the common area or from an individual unit.? Unit owners may be responsible for the insurance deductible up to $5,000 for any damage within a unit or that damages another unit should the loss originate within their unit.

Our financial management allows us to bill back unit owners for the deductible recovery and track the income and expenditures for insurance issues.

Maintaining Insurance

Maintaining a clean claims history is imperative in today’s insurance market. Not every claim should be submitted to the insurance company. We evaluate any claims that occur to identify the best course of action.

We conduct risk assessment to be proactive in identifying any issues and resolving them expediently.

We work with several insurance vendors to bid out your insurance when needed to maintain the best, affordable coverage.