Administration & Compliance
Administration: Efficient Administration skills are a key component to a smoothly run property. Each community manager is provided with a computer, printer/copier, email address, and cell phone. Furthermore, every manager is expected to oversee the administration of their property, but they are not without assistance. Between the Executive General Manager, Chief Financial Officer, Facilities Manager, Compliance Monitor, and Director of Development & Marketing, each manager has an abundance of expertise and helpful hands to reach out to. By adopting new technologies and continuing to improve our policies and procedures, we are always striving to make things easier and more efficient for all involved.
- Monthly Manager Meetings: Every month Summit Property Management Group gathers for “Monthly Manager Meetings.” The community manager is responsible for preparing the meeting and then calling into Summit headquarters in South Burlington. We discuss everything that is going on at their property including:
- Rental numbers, vacancies, upcoming turnovers
- Marketing initiatives, community events and gatherings
- Maintenance issues and ongoing or new projects
- Monthly financials compared with budgeted numbers
- Ideas to help them improve the property
These meetings create a sense of accountability for the community manager and maintenance staff by ensuring that nothing goes unnoticed. With this monthly checks and balances system in place, owners can be assured that their properties are in good hands.
- Support from Headquarters: Summit Headquarters is located in South Burlington, Vermont. From here, our Executive General Manager communicates daily with each site manager. We expect that our community managers can handle most situations that may arise at their property, but we provide full support should they need more assistance. Our properties run smoothly because we maintain continual communication with each property.
- SharePoint: SharePoint is an online database of all Summit’s shared documents that are needed on a day-to-day basis. It allows everyone in the company access to the same well-written, professional looking, law abiding, accurate letters and forms for their communications with residents, prospects, and vendors. Thanks to SharePoint, owners can be confident that our managers are communicating professionally and efficiently, and in turn making a good name for their property.
- MRI Software: This property management software has taken Summit to the next level. With it we are able to track residents, waitlists, prospect lists, rents, tenant service requests, preventative maintenance, routine maintenance, and more. It provides accurate and auditable accounting records, as well as an annual budgeting system for each property.
Compliance: Summit Property Management Group has a long history of experience with the Low Income Housing Tax Credit program, as well as Section #8, HOME, and Rural Development. Andrea Tieso, our Director of Compliance Monitoring, is fully dedicated to ensuring that we comply with all city, state, and federal regulations. To ensure complete and trustworthy compliance, Summit has deliberately removed the complex compliance workload from the Property Manager’s responsibilities. Instead, Andrea’s sole job is to assure Owners and Investors that all Properties are in compliance by providing the following services:
- Pre–Qualify and process all tax credit applications in a timely manner
- Process annual and interim recertification interviews and applications in a timely manner
- Coordinate onsite physical and file audit reviews by state agencies & limited partners
- Meet the reporting requirement of the limited partners and state agencies on a monthly, quarterly, and annual basis
- Timely response to general partner, limited partners, and investor requests.
From applicant to resident, Andrea works side-by-side with our community managers to qualify applicants and correctly document all necessary paperwork. Summit takes compliance matters very seriously, and maintains 100% compliance with all regulatory agencies.
- Non-Compliance: Due to the severe consequences of non-compliance, Summit is extremely thorough with regard to the LIHTC/Section #8 programs. Summit has become more efficient and achieved a perfect track record by having the Property Manager focus on leasing and tenant relations rather than chasing the complex details and rigorous processing required by the LIHTC/Section #8 programs.