Real Estate and Condominium Development
Northeast Property Group can provide full brokerage and association management consulting services for your next condominium or planned unit development project.
As a developer, you have a vision for your real estate project and when building a community association you need an exceptional company to help you realize that vision. In addition to our property management services, Northeast Property Group offers a vast array of consulting services to community builders and developers to help achieve success.
Our services include:
- the preparation of budgets
- project planning
- resident communications
- owner meetings
- reviewing the governing documents from an “owners” point of view
- common area services, such as snow removal, landscaping, trash pickup, etc.
The future of every community begins with a vision—an overarching framework that brings a community to life and creates a legacy for generations of homeowners to come. Preparing for first time sales within a developing community can be a very time consuming process. 90% of the problems encountered in newly developed communities can be attributed to common errors and oversights which occur during this initial phase. Understanding the needs of the developer and the community are integral to the success of your next project.
Operating Budget & Fee Schedule
With more than 30 commercial, apartment and condominium properties under the care of our property management team, we have the skill, experience and a portfolio for comparison when preparing the annual operating budget for your project.
In the process of creating and selling homes in a community we find that buyers frequently experience a gap between expectations as a purchaser and the reality of ownership. Our role, as part of the development team, will be to work insuring that the expectations created during the marketing and sales period and the reality of ownership are consistent and positive throughout the process. Working with the team to assure a high level of customer service during the move in and warranty period, we will coordinate with the developer to implement a work order and customer service satisfaction program. As part of the transition process we work to create a positive environment where the new owner becomes part of the process of transition from developer to owner control of the association.
Condominium Association Owners’ Manual
To introduce the new owner to their new home and the Association that they will become a part, we can prepare a Condominium Association Owners’ Manual. Developed as a marketing tool as well as an important informational guide, the Manual discusses:
- The Association’s organizational structure
- Board of Directors and committees
- Fees and charges
- How to obtain services
- The covenants process
- Rules and regulations of the Association
- Information about the neighborhood and its amenities
- Schools, places of worship and governmental services
Best practices strongly suggest that the founding policies and procedures of the Association, and rules and policies subsequently adopted, be incorporated into a document that is easily amended and referenced to supplement the legal documents of the Association. We will work with the attorney in preparing the Book. The Book identifies the policies and procedures of the Association extracted from the governing documents. Specific sections will be comprised of Policy, Administrative, General and Special Resolutions. Included in the Association Book of Resolutions are:
- Assessment collection policy
- Due process procedures for rules enforcement
- Investment policy
- Design review guidelines and procedures
- Committee terms of reference
- Pet rules, parking, use restrictions