Rhode Island Property Advisory Company

401-736-8300

Services

Property Management
Financial Management
Advisory Services
Winter Watch
Contact

Property Management

Property Management is far more than paying bills and responding to complaints. It demands commitment, experience, constant attention and clear communication.

As a professional Management Company, we relieve the Board of Directors from the burden and time consuming personal attention to detail needed in running your Association.

Communication & Control

Understanding the unique role communication plays in the success of a property management company has been critical to our growth. All of our employees possess excellent communication skills, including specifically targeted abilities to deal tactfully presenting different scenarios.

Constant and clear communication builds relationships, keeps potential problems from starting and helps us to continually improve the quality of the service we deliver.

Regular inspections and written reports keep associations, owners and RIPAC Executive Management fully apprised of progress, client satisfaction or special requests.

Coordination and Support

When your Association is managed by us, you will never stand alone. Constant monitoring and knowledge will always surround you.

We identify your needs and implement solutions, so you won’t have to.

We will negotiate contracts with outside services such as snow removal, landscaping, rubbish removal, pest control, and more.

When other service is deemed appropriate or necessary, we will solicit at least three competitive bids from contractors. Bids will be presented with a recommendation, in a clear and concise written form, to the Board of Directors for acceptance.

Routine servicing of the physical property will be scheduled, including long-range capital projects.

Beyond planned services, our maintenance technicians are available 24 hours per day, 365 days per year for any emergency which may arise.

By combining our extensive experience and knowledge of construction principles and law, along with an ability to coordinate data, diagnose problems and communicate, we are able to provide seamless property management at its best.

Financial Management

Meeting and conquering the countless steps in making payments, billing, collections and banking is the business of property management.

We fill an integral role as your partner in this endeavor. We provide full financial management services including but not limited to:

Banking & fiscal
  • Opening the property bank/trust account.
  • Setting up accounting procedures.
  • Recommending an operating budget and management plan.
  • Collection of all assessments due, including common area maintenance charges, insurance, percentage rent, administrative expenses and late penalties.
  • Making timely deposits.
  • Following-up on delinquent accounts and, if necessary, initiating legal action for curing defaults.
  • Handling accounts payable.
  • Preparing monthly financial statements of income and expense.
Payments & collections
  • Collection of condominium fees and other income, which are deposited into your Association’s account.
  • If necessary, an aggressive enforcement process of collection, at no added cost to the association.
  • Payment of all approved invoices by the Board of directors for any non-budgeted expenditures.
  • Arrange preparation of annual State and Federal tax returns.
Communication
  • Mailing financial statements monthly to the Board of Directors.
  • Mailing detail monthly statements to unit owners, showing any delinquencies
  • Annual Mailing of coupon books to owners.
  • Review and coding of vendor invoices.
  • Optional participation in RIPAC cost saving programs, such as pest control, insurance, banking and rubbish removal.
  • Mailing of an annual budget to the Board of Directors, including line item back-up information 30 days prior to the Association’s fiscal year if necessary.

Advisory Services

Our goal is to work in cooperation with the Association providing advice and creating a management plan for the physical and financial affairs of the property.

Through our Advisory Services we coordinate and analyze data, diagnose any problems and provide solutions.

Legal Advisory Services

Thinking intelligently and anticipating legal matters is a primary step in each and every one of our processes.

We work with a dedicated team of lawyers, familiar with the relative law to review all process, services and contracts.

We always obtain all necessary permits and licenses, constantly monitoring compliance with all building and safety codes and regulations. We put extra effort to remain current on all code changes and the latest developments in the field; both technical and product related.

In addition, we have developed and maintain a professional working rapport with state and local inspectors. All of our management, inspection and maintenance personnel are insured, bonded and covered by worker’s compensation.

Winter Watch

We offer a new service called “Winter Watch” for all unit owners. We will take care of your home as you vacation giving you peace of mind.

For more information, contact us at winterwatch@ripac.net

Contact

For further information, please contact John P. Morgan, President.