Riverside Management & Financial Services, Inc. was founded in 1978 as Riverside Property Management and began managing community associations in 1983. Riverside currently manages 70 such associations ranging in size from 6 units to over 1600 units with sales prices from $150,000 for a condominium to well over $2,000,000 for a custom home. For these associations we assist in the preparation of budgets and reserve studies, collect monthly dues payments, provide financial reports, supervise regular maintenance and capital improvements, assist in the enforcement of the governing documents, and handle routine correspondence with owners and vendors. For many associations we produce newsletters. We attend all Board meetings.
As a result of our experience with a wide assortment of communities, we recognize the unique attributes of each community as well as the common problems affecting all of them and are capable of responding to any situation which might arise. Our forty years in this business have allowed us to build excellent working relationships with many of the foremost experts in legal matters, construction problems, environmental issues, security techniques, mediation services, and with a number of qualified, competitively priced contractors.
Riverside Management & Financial Services, Inc. is an active member of the California Association of Community Managers (CACM) and the Community Association Institute (CAI). All of our managers are certified through CACM and/or CAI.
"A cornerstone of a successful association is effective governance principles and practices - principles that support communication and practices that delineate responsibilities."
One of the most effective ways to help increase support of Board decisions is through communication. If the members are informed of the issues facing their community and understand why the Board makes the decisions that it does, then they are more likely to support and comply with those community decisions. In addition, effective communication also allows Members to voice their comments, requests, concerns and ideas so that the Board can make its decisions based on the best interests of the entire membership.
Clear delineation of association responsibilities allows the association to optimize the use of Board, committee, and volunteer resources. Our management philosophy views the Board of Directors as the policy making body of the association. Our managers act as advisor to the Board when our expertise and experience can add value. We view our role as the Managing Agent for your community, responsible for carrying out the policies and directives of the Board. In this way the Board may delegate the day-to-day operations of the association to the manager such as:
- Completing regular inspections of the property
- Reporting violations of the Covenants, Rules and Regulations, and the Design Standards
- Providing notice to homeowners whose property is out of compliance and working with homeowners to resolve these issues
- Overseeing regular maintenance of the property and special maintenance projects
Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound management decisions. Financial Services Contract and Assessment Billing Services:
- Monthly, quarterly, or annual billing statements or monthly dues coupons distributed at the beginning of each fiscal year
- Assessments mailed directly to a bank lock box for immediate deposit in the Association's bank account
- On line assessment payment by credit card or bank draft
- On line account history review for homeowners
- Late notices as determined by the Association's published Policy on Collection of Assessments
- Respond to account inquiries from homeowners
- When necessary, coordination of lien and foreclosure procedures with an independent collection agency
Monthly Financial Reports including:
- Balance Sheet
- Reconciliation of bank statements
- Budget variance reports
- Income and expense detail by account number
- Accounts receivable detail with age analysis
- General ledger
- Check register
- Review invoices and prepare checks for signature
- Assist in the preparation of an annual operating budget and distribution of annual disclosure package per Civil Code 1365
- Cooperate with the CPA of the Board's choosing in the production of the annual review or audit and preparation of the Association's tax returns.
Full Association Management Services
Our Full Association Management Services contract includes a broad assortment of administrative functions, site and contract management, and legal support in addition to all aspects of our Financial Services Contract. We provide regular site visits to the property, present our findings to the Board, and assist in securing bids when maintenance work is needed. Full Association Management Services Contract All Financial Services Contract functions and Administrative Services:
- Maintain an answering service to receive calls outside of regular business hours and to report emergencies to an on-call manager
- Attend Board meetings and an Annual Meeting. Attendance at committee meetings as agreed upon
- Prepare meeting minutes for Board approval
- Handle routine correspondence for the Association and issue all notices as may be required by the Board or the governing documents
- Work with insurance professionals to implement an insurance and risk management program as required by law and the governing documents
- Prepare newsletters at the direction of the Board
- Visit the property at regular intervals and keep the Board informed of conditions in need of attention
- Issue requests for service or maintenance to appropriate contractors
- Log maintenance requests by unit, type, and vendor
- Assist in the enforcement of rules and regulations
- Solicit bids from qualified, licensed and insured contractors for routine landscape and building maintenance and for special projects
- Supervision of any on-site Association employees
- Site & Contract Management
- Legal Support
- Assist the Board and the Association attorneys in any construction defect litigation, settlement negotiations, and reconstruction
- Attend small claims court with a representative of the Board
- Advise the Board on day-today operations and keep the Board current on changes in the law affecting common interest developments
- Recommend the Board seek legal counsel when necessary
With our Online Services and our emergency phone line, residents can even report maintenance concerns from anywhere and at any time.
Community Building Services
"Positively managing the expectations of the membership can be a great enhancement to the quality of life in a community."
Our managers play a key role in building a sense of community and positively affecting members' perceptions of their association through consistent communications and management of quality events.
To help increase community involvement and volunteer effort, our managers focus on a comprehensive communications program to educate members and provide them with a better understanding of association life. We offer a complete and unparalleled solution for our clients.
If your community is in need of our services, please contact Pamela Ciapessoni at PamelaC@RiversideMgmt.com with the following information within your email: