San Francisco Property management companies come in all shapes and sizes. So do community associations. And individual homeowners, WOW, we haven’t found two alike! Homeowners associations and their members need certain service levels and resources at certain times. Most management companies are equipped to handle the routine day to day tasks (although many can’t even do that!) than an association requires. Truly, it’s not rocket science!
The complaint we hear most about our industry is that most San Francisco property management companies do not have the capabilities, experience and infrastructure under one roof that a home owners association will routinely need throughout the course of its life. We find management companies are generally terminated when these should-have been-expected events materialize…….. they simply do not have the size, capability and flexibility to take on what should be the expected. CitiScape has been built around having the infrastructure, systems and protocols in place so we’re ready whenever the to-be-expected occurs.
Our extremely strong accounting department, headed up by Controller Wayne Lee, CPA, oversees the routine payables and receivables, and generates a timely monthly financial report. Most property management companies can handle that. But can they handle the more sophisticated short and long term cash flow forecasting and budgeting? Working with boards, banks and contractors on construction loans and special assessments? And in this economy handling the ever growing problem of delinquent collections, all handled in-house. Here, CitiScape soars above the rest.
When our association-clients need special projects completed, they can rely on our Project Management Department to see them through. Our qualified in-house staff consult on project budget preparation planning, analysis and recommendations for repairs and replacements, preparation of Scope of Work and Cost Estimates, project financing, site inspection and report, contract administration, governmental agency liaison, review of contract drawings and documents, bid and contract review and coordination, liaison with lenders and financing agencies, insurance claim coordination, Risk Management, mold, asbestos & pollutant remediation and Operations and Maintenance Plans, unit Architectural Modification Review, high-rise Fire Safety and Evacuation Plans, and Earthquake Preparedness Plans. There is not a property management company anywhere that can match this in-house resource and capability.
CitiScape partners with Wells Fargo Insurance to offer our clients participation in a consolidated insurance program, which offers far more broad coverage than a stand-alone policy can possibly offer, usually at rates lower than stand alone policies. With a loss Limit of $500,000,000 per occurrence, and with automatic reinstatement of limit after each occurrence, you simply can’t beat the coverage. In the event of a fire or other insured loss, the claim would be covered up to full $500,000,000 loss limit, if needed, to replace the damaged property, with no co-insurance penalty clause. Building Ordinance is provided without a sublimit—all other insurers require separate limits for the increased cost of construction and demolition cost portions of this coverage. The increased cost of construction part is where the most exposure is. This coverage is expensive. It’s included with our program. One of the most common events that can occur in a building is drains backing up, causing damage to several units. The backup of sewers and drains are covered, with no sublimit, in our Wells Fargo Insurance program. Usually not covered in a stand-alone policy. CitiScape is only one of a handful of management companies that offer this insurance resource to their clients.
CitiScape offers extraordinary abilities and related ‘excellences’ that a firm acquires from its founders, only after consistent striving and evolving over the years, which cannot be easily imitated. Core competencies are what give CitiScape its competitive advantages, in creating and delivering value to its customers. This is the reason CitiScape is the leader in its field. We understand our industry. We understand what owners want and expect from their homeowners association and their management company. We answer calls, we answer e-mails. Promptly. We demonstrate empathy. We become part of the team, part of the community. We become, over time, the institutional memory of the association. We add value to community, and to the value of the real estate investment. We add value to the quality of life.