Community Association Management
The Romero Group brings a wide range of complementary skills that support all areas of Community association management to serve our communities at the highest standards. Property Management is our sole focus. It is what we have built reputation around and it is what distinguishes us from the crowd of real estate brokerage firms that also try run a property management division. The Romero Group offers strong CIOAA based covenant enforcement to ensure compliance with state statues and the Association’s governing documents. Our team of Colorado State Licensed Community Association Managers act responsibly on your community’s behalf and to ensure seamless communication with your Association Board.
Special District Management
The Romero Group also manages several Special Districts throughout the Roaring Fork Valley. We are conversant with the rules of governance under Title 32 of the Special Districts Act of Colorado. Our qualified team of certified Water Specialists, Engineers and licensed Community Association Managers provide leadership and management in the ongoing care of each Special District.
Onsite Property Services
The Romero Group offer our clients a full scope of onsite services in order to maintain our customer’s property to the high standards our customers expect. With our committed, responsive team available 365 days a year, 24 hours a day, The Romero Group proactively anticipates and attends to all aspects of property management for our customers.
Accounting and Financial Reporting
Based on years of experience, The Romero Group has developed standard monthly, quarterly and annual reporting packages to meet our client’s needs. Timely and accurate financial information is crucial to the Association Board of Director’s ability to manage their Association. Our monthly financial package includes the following elements:
- Balance Sheet
- Accounts Payable Detail
- Accounts Receivable Detail
- Current Month Income Statement with Budget Variances
- Fiscal Year to Date Income Statement with Budget Variances (including explanations for variances over a certain scope threshold)
As a team, The Romero Group collaborates with our clients to build their Association’s annual budgets from the ground up based on historical information and future estimates. We use hourly labor worksheets to anticipate the needs of our Associations and translate that into your monthly, seasonally adjusted, labor budget. We use bulk negotiated outside service contracts for providers such as – Landscapers, HVAC Technicians, Elevator Maintenance, Insurance, Snow Plowing and Natural Gas bulk purchasing. We also utilize our internal expertise and experience as the basis for each budget line item.
Our quarterly financial package includes all the elements of our monthly package along with a 12-month future looking cash flow. This cash flow includes recommendations for managing capital funds and investment options that arise during that time.
Audit Preparation and Coordination
Our firm does not conduct audits because it is not independent from the clients it serves but many of the firm’s clients are audited on an annual basis. For clients that are audited, at the end of each fiscal year audit work papers are prepared and the audit is coordinated by our firm with the organization’s independent auditors. The firm works closely with the State Auditor when necessary if audit issues arise involving the firm’s governmental clients.
Working with independent insurance brokers, The Romero Group can coordinate obtaining general liability, property, automobile, directors & officers (governmental officials) and employee health and workers compensation insurance. The firm works closely with insurance brokers to ensure that there are not gaps or duplications in coverage. Competitive bids are obtained on a periodic basis to ensure that insurance premiums paid are competitive.
Cash Investments and Cash Management
The Romero Group assists in placing the District’s or Association’s funds in accounts and investments that meet the investment policy of the organization and that maximize the organization’s income within the parameters of safety and liquidity established by the organization.
Preparation of board meeting notices, annual members meeting notices, advance packets of information for board and member meetings, attending meetings, taking minutes, etc. are all services The Romero Group has the ability to provide as needed.
Neighborhood Politics and Entitlements Advocacy
The Romero Group has deep relationships throughout the community, both in the public and private sectors. We use these relationships in an open way to protect and enhance our clients’ needs and priorities. As in most resort communities, the stakes are high when it comes to land use matters.
Vendor Negotiating Power and Scale Economies
Given the breath of management contracts in place, The Romero Group is able to bring additional negotiating power and strength when establishing vendor contracts for our clients. As a matter of course, we regularly review existing contracts for completeness and appropriateness, as well as for cost-effective pricing. As an example, The Romero Group actively manages vendors in the snow plowing, landscaping, road management and maintenance, pond well, ditch systems management and maintenance, and thus we can immediately bring added value in these relationships as they come up for renewal or rebid.