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Community Association

Community Association

Luxury Condominium homeowner associations have diverse needs. They must address the concerns and issues of individual homeowners and need help with the management of the buildings, grounds and financial services. We specialize in providing premier property management services to homeowner associations and their board of directors/trusteesFirst and foremost; we will keep your property exceptionally well maintained — safe and sound. We pay attention to every detail — the landscaping, the entryways, the interiors and the exteriors. We first listen to your needs and then respond as quickly as possible. If you prefer a customized approach to property management, we create it for you.

Building Systems Maintenance
Fire alarm systems, emergency lighting, elevator maintenance, ventilation systems, sprinklers and more are all critical to the safety of the homeowners, your property and your investment. Lux Property Management evaluates your building systems for general safety, last inspections and certifications required by law or common maintenance practice. In fact, we set up an Annual Calendar for monitoring maintenance and inspections on a monthly basis, along with the vendors who are responsible.

Common Area Cleaning and Gardening Maintenance
To help your homeowners maintain the value of their property, it’s imperative that common area cleaning and gardening services be performed on a routine basis. We can provide a range of services (daily, weekly, or monthly) depending on your association’s needs. In addition, we will evaluate any existing cleaning and gardening services and provide recommendations. We provide semi-annual or annual services such as exterior window cleaning, carpet cleaning, marble maintenance and more. As with all of these services, we obtain bids and will not schedule any work until approved by the Board.

Property Inspections
At Lux Property Management, we believe routine inspections are a critical part of any property management services. We routinely check up on weekly cleaning and maintenance and have our Property Managers on-site to monitor the quality of any ongoing repair work.

Emergency Services/Repairs
Lux’s Property maintenance department can handle repairs including routine carpentry work, electrical repairs, locksmith repairs, painting or plumbing leaks. We always obtain bids from outside vendors for the following work: pest control, roof replacements,large reconstruction or remodeling work. A Lux Property maintenance person is on call seven days a week for emergencies. In emergencies, the appropriate maintenance person will be dispatched immediately.

Board of Directors’ Services
Lux property management company NY provides a number of services that can assist the Board in their duties.
These include:

  • Maintains To-Do List
    This ongoing list summarizes all outstanding board member requests. Items are not removed until completed. This list is always included in the Board Packets that are sent one week before the board meeting.
  • Reviews all Bid Work
    Provides references to the Association on everything from contractors, plumbers, electricians, etc.
  • Local Law Compliance
    Keeps Board apprised of the latest homeowner association laws (city, state and national). See our industry affiliations.
  • Corporate Governance
    Prepares board agendas, provides Board Packet with an updated to-do list and with information regarding each agenda item, notifies association members of next meeting/agenda and take minutes at all meetings.
  • Financial Reporting
    Provides monthly financial package.

Comprehensive Accounting Services

Lux Property Management staff have the education and experience in accounting, finance and financial analysis that is rarely found in a property management company. Lux Property management company NYC uses a wide range of accounting programs and can customize its reports to meet the specific needs of all clients. Our goal is to provide you with an accurate and understandable system that will allow you to easily account for every dollar in and out.

In addition, Lux Property Management also prepares and presents the proposed annual budget to the Board. We prepare all information necessary for the end-of-year financial review and filing of taxes by the Association’s CPA. Our comprehensive financial package will keep you up to date on all of the activities at your property. We collect all Association fees from homeowners. Homeowners can mail in their monthly fees directly to the bank or use our PAYNOW button on our website. Reserve funds are transferred directly to an interest bearing savings account or Reserve Account. We also pay all Association bills and we provide the Board with a comprehensive financial package that includes the following information:

  • Balance sheet
  • Income and expense statement
  • Owner assessments receivable
  • Check register
  • Bank account reconciliation for both operating account and reserve account
  • Copies of actual bank statements for all bank accounts set up for the association

Corporate Governance
We appreciate that the volunteers and board members are the most valuable resource a property association has and we support the Boards we represent and help them address the issues specific to their community. We understand your needs of (a) managing your association within budget; (b) keeping your residents satisfied and informed; and (c) effectively governing your community.

Maintenance Services
Lux Property Management understands the need to be readily available to serve the needs of all of your tenants. The quality and availability of a maintenance crew can be a deciding factor when it’s time to renew a lease. Lux can provide an in-house staff that can handle all of these needs for you as soon as they arise or we can be available on an hourly or as neededbasis.

  • Available on hourly “as needed basis”
  • Highly-skilled building engineers
  • Responsive to resident service calls
  • Prepare preventative maintenance program
  • Directly resolve most repair/maintenance issues
  • Professional demeanor in LUX uniforms
  • Enhance positive relationships with tenants and vendors
  • Cost effective maintenance for properties

Project Management Services
At LUX Property Management, we will take control of every facet of a construction project once you decide to make that investment. We will handle all bids, budgets, proposals, scheduling, purchase orders, contractors, sub-contractors, equipment management, and all documentation. We will request and review several bids and proposals from the area’s professionals, many of which we have been doing business with for many years, and weigh them on your behalf for both engineering and financial merit. Our decision will stem from nearly years of experience in this field and with your property’s best interest in mind.

We will then over-see every aspect of job development – from signed contractual agreement to project completion.

  • Coordinate meetings with Architect and Association or Owner
  • Review plans from the Owners perspective
  • Maintain control over design to insure cost effective improvements
  • Solicit bids from subcontractors or general contractor
  • Set up construction meetings and monitor throughout construction process
  • Point person for Association, architect and contractor
  • Work with local governmental agencies to insure code compliance
  • Maintain cost control throughout construction process
  • Conduct final walk-through and follow up on punch list items

Developer/Sponsor Transition Plan
When a Sponsor/Developer turns over the management of an Association to the unit owners; a process frequently called “Transition” takes place. The governing Board of the Association, now made up of a unit owner majority, has total responsibility. Both the fiscal and physical realities of this happening are events are often overwhelming to new homeowners.

LUX Property Management NY is experienced with assisting Condominium unit owner Boards in this demanding process. Our in-house property management staff is your resource. We provide assistance with Transition Studies which contain both Deficiency Reports and Capital Reserve Studies that inform the Board of the condition of their commonly owned facilities and the funds needed for replacement of these capital structures over time.

Evaluate Current Operations and Procedures
As part of the Transition, LUX will identify your community-specific needs and to evaluate the proficiency with which they are being met. The input of Board and community members is invaluable in helping us to determine the requirements, expectations and overall satisfaction of the community. We examine existing procedures and put to work our expertise to pinpoint areas that need modification or improvement. Along with its Evaluation Report, the Transition Team submits a plan for modification and improvement that is reviewed LUX and presented to the Board.

Years of experience enables us to recognize methods that work efficiently. We also recognize existing procedures that are working well – those we leave in place and, indeed, learn from. LUX is not an “our way or no way” company. Our goal is not necessarily to change but to improve management service to your community.