Nick Ferraro & Company, Inc. provides an array of services that supports the efficient operation of your community. Nick Ferraro & Company, Inc. also provides new and pre-owned home sales services in select communities with over 100 sales transactions annually. This is made possible by our experiences staff of professionals that holds the appropriate state licenses to operate at Community Managers, Mobile Home Licensed Sales Associates, and Real Estate Brokers.
MANAGEMENT
From a management perspective, Nick Ferraro & Company employs over 30 associates who service our client base in various capacities from maintenance to professional management. In addition, we have the depth of operations, and experience level to provide the resources necessary to position your community for efficient operations and enhanced property values!
Nick Ferraro & Company, Inc. has been involved in manufactured housing since the early 1990's. Since that time, our company has been very active in all phases of the manufactured housing industry, representing communities in both management and sales functions.
NEW HOME SALES & RESALES
Our sales division operates from a very upscale Sales Center located on Ulmerton Road in Clearwater, Florida. At this location, we feature both modular and manufactured homes distinctly furnished. We represent Palm Harbor Homes, Homes of Merit and Fleetwood Homes. Through Dealership activities, we have been successful with our prospects by providing them with information and suggestions on which communities would best meet their needs and demands.
In our exclusive management with sales communities, we have the financial resources necessary to place model home inventory. In addition, we are replacement housing specialists; upgrading older communities to a new quality standard.
Contact our management office at 1-800-330-4171 for immediate assistance to discuss how our services and experience may help enhance your community or property today.
MANAGEMENT SERVICES
Accounting
- Collection of maintenance fees by:
- Collect fees and manually record & deposit/or
- Using coupon books and electronic deposits
- 1st late notice for monthly maintenance fees
- 2nd late notice for monthly maintenance fees
- Send to attorney to lien
- Budget preparation-Budget notes
- Payment of all association fees
- Preparation of monthly financial reports
- Copy of check register
- Year-end financial reports
- Special assessment preparation
- Special assessment collection
- Payroll services for associations with employees
- Insurance benefits for associations with employees
Property Management
- Available 24 hours per day, 365 day per year to handle any emergencies
- Perform all duties requested by the Board of Directors
- Attend board meetings as required by the Board of Directors
- Maintain Association Records
- Provide and update Owner/Tenant Rosters
- Tour property per contract/management agreement schedule
- Identify repairs that need to be made
- Receive and act upon requests from owners who require services
- Locate qualified vendors
- Dispatch vendors to make repairs
- Obtain bids to keep association services ompetitive
- Review sub-contract work
- Review association insurance costs
- Solicit proposals to reduce costs
- Administrative-Board Correspondence to and from unit owners
ACCOUNTING & FINANCE
Checks & Balances
- On-site manager approval
- Board member approval (if desired)
- Regional manager approval
- Invoice and approvals reviewed by accountant
- Checks written by accountant
- Checks signed by Regional Manager
- Disbursement of funds
Financial Statements
- Receive deposits from maintenance collection (ACH, coupons, etc.)
- Bank reconciliation, cash-flow statement
- Code and record invoice to general ledger
- Delinquency analysis
- Prepare Estoppels from individual homeowners
- Checks are posted to individual accounts
- Review delinquencies and notify homeowner
- Record Loan Documents
Budget Process
Create Annual Budget based on historical factors: Input and revisions by members for
future conditions. Operating statements compared to: budget, monthly, year-to-date and yearly.
Tax Return
Coordinate the preparation and filing of all tax forms required under federal, state and local laws.
Audit
Coordinate the preparation of Audit as required by Florida Statute. We make sure all checks
and balances are in place for tracking of all receipts and expenditures.
Sales Services
- Listing on www.NickFerraro.com
- Three (3) scheduled open house functions annually
PREMIER SERVICES
Management
- Routine evaluations on daily operations
- Maintain files of official records and correspondence
- Create all documents for annual meetings
- Recruit and train personnel
- Community rule enforcement
Property Inspections
- Enforcement of community documents and use restrictions
- Written complaint, Manager Observance or Inspection
- Reminder letter or phone call
- Formal warning letter
- Legal action
The Bidding Process
The Bidding Process is the most important aspect of the management team. Time, expense
and quality of service is of the essence in the proper maintenance of your community. Our
experience in a wide variety of housing types qualifies Nick Ferraro & Company are experts in
negotiating for the best possible value and quality:
- Obtain three bids and review bids and proposals
- Make sure each contractor is licensed and insured
- Obtain Certificate of insurance
- Negotiate Bid into a contract at the best price
Approval of New Residents
- Application, Credit Report, Background Check
- Meet with Park Manager
- Interview with Manager/Board members
- Prepare new resident and welcome packets materials
- Process estoppel requests
