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Our Passion...

is to serve you in a manner that benefits your community at large, preserves the financial security of your association and leaves all homeowners satisfied with their decision to live in the North Star Pointe community.

North Star Pointe

Current State

 

Lack of financial oversight and transparency

$100,000+ Accounts Receivables

Little to no communication or follow through from current service provider

No community engagement or online presence

 

What is NTX?

 

Transparency

Everything we do is made available to board members so you receive the level of service you expect and know what your association is paying for. Our fee schedule is simple so you know exactly what is being paid and why.

Efficiency

Our focus on efficient processes and workflows allows us to remain focus on communicating with homeowners instead of antiquated processes and time wasting tasks. We want to be available to you when you call and when your homeowners call.

Technology

We leverage technology every chance we can so that you have all the information you need, when you need it. Our board portal is your centralized communication platform for all your association needs.

Our Services at a Glance

 

  • End-to-End community management
  • Homeowner Communications tracking and analysis
  • Transparent accounting practices
  • Vigilant AR and collections processes
  • No call centers- only NTX experts
  • Mail fulfillment provided at cost
  • Community Managers that care about you and the homeowners in your community!!

 

Future State

 

Financial Stability

Our main focus will be to shore up the delinquencies and re-engage homeowners to reduce your hefty receivables balance.

Engaged Homeowners & Renewed Interest

We will provide a free community website for homeowners to access their account, pay dues online, check the community calendar for meeting notices and events, and post to the community bulletin board. All governing documents are available online for free so homeowners have access to the community rules and any other documents the Board of Directors would like to make available, i.e. financial reports, ACC request forms, etc.

A Job Well Done

We simply get the job done and do it well. If you’re not satisfied, neither are we.

Let's Talk Transition

 

It’s not a walk in the park to on-board a new community but it’s not your problem to deal with. We handle everything. The only thing you have to do is provide clarification here and there… and possibly send us some missing information not provided by the exiting management firm.

    • Typical transitions take 60-90 days
    • All association and homeowner files are obtained from current management firm
    • 90 days funding requested immediately and all association bank accounts closed once transition complete
    • New bank accounts opened with BB&T Bank
    • Homeowner information and account histories inputted and loaded to TOPS operating platform
    • All properties geo-coded for violation inspections to ensure accuracy
    • 145+ other procedural tasks needed

 

NTX Fee Schedule

NTX Schedule of Fees
Monthly Management Fee $1,500.00
Setup Fee (Onboarding) $1,500.00
Homeowner Welcome Letters $2.00 Each
Violation Letters $1.00 Each
Billing Statements $1.00 Each
Delinquency Notices $1.00 Each
Annual Meeting Notification and Proxy $2.00 Each
Website and Hosting  Free
Collection Fee $15.00 Charged to Homeowner & becomes a receivable to the association
Certified Mail Notice (when state mandated) $15.00 Charged to Homeowner & becomes a receivable to the association
Archived Record Scanning $95.00 Per Box (if desired)
Maintenance Requests $45.00 Per Hour + Materials

Q&A

Q: What’s this setup fee all about?

A: 60 days before we begin managing North Star Pointe we will begin working behind the scenes to on-board your association along with gathering what we need from your exiting management firm. The setup fee covers the overhead cost involved prior to the contract start date.

Q: So, we get a free website? What’s the catch?

A: No catch. We bear the cost of providing the website and hosting on your behalf. It’s part of our “no nickel and dime” approach. In contrast, other management firms tend to spread their cost over several expense categories and GL accounts in lieu of letting you know what it will truly cost to manage your association.

Q: What is this collection fee charged to homeowners?

A: Delinquent homeowners cause more work for a management company. Therefore, that additional time spent to contact them, prepare delinquency notices, coordinate with attorneys, etc. comes at a cost. A cost that should not be charged to the association. Instead, the additional cost is passed through to the homeowner and is added to their balance. Given the current financial state of North Star Pointe, substantial time will be spent re-engaging those delinquent homeowners to shore up their accounts.

Q: When would the state mandate a certified letter be mailed?

A: Before a fine can be charged for violation, suspend access to the association common area, or before formal collection action can be taken

Month 1 Cost

Month One Anticipated Expenses
Monthly Management Fee $1,500.00
Setup Fee $1,500.00
Welcome Letters (400 x $2.00) $800.00
Total Month One Expense $3,800.00

Month 2 & Beyond

Month Two and Beyond
Monthly Management Fee $1,500.00
Violation Notices (25 x $1.00) $25.00
Past Due Notices (250 x $1.00) $250.00
New Homeowner Welcome Letter $6.00
Estimated Monthly Expense $1,781.00

 

Mailing cost for violations, delinquency notices and new homeowner welcome letters are assumptions. The actual amounts will vary.

This is a worst case scenario of what you might expect if over half the community is delinquent month-in month-out.

25 violation notices is a stretch but this is a realistic picture of what it would look like if the community were 100% built out.

Transparency, Remember?

Annual Operating Cost

Estimated Annual Operating Cost
Management Fee $18,000.00
Violation Notices (25 x 12 mos x $1 ea.) $300.00
Past Due Notices (250 x 12 mos x $1 ea.) $3,000.00
Welcome Letters $72.00
Annual Meeting & Proxies $800.00
Annual Assessment Invoices (2x per yr) $800.00
Total Estimated Annual Cost $22,972.00

Again, worst case scenario in an annual representation.

What's in it for me?

 

  • Local management firm committed to your community success…¬†
  • Your assets are protected and your association will be financially stable
  • Fast response to homeowner requests and inquiries
  • An efficient way of managing your association that saves you time and effort!
  • Transparency related to all your community information (financial, homeowner, etc)
  • Resident Portal allows homeowners access to all of their account information
  • Free online payments via e-check or ACH automatic draft
  • Lastly, a firm committed to exceeding your expectations through clear communication and an unmatched desire to benefit your community

 

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