Condominium Property

Kass Management Services Inc. is committed to providing the Associations we manage the highest quality property management services available.

Our management services cover everything your Association needs to be financially sound, well maintained, and well attended to.

In today’s market, Kass Management Services Inc. takes pride in our competitive advantage in the following areas:

Proactive Maintenance – We get the job done and bring matters to you before you need to bring them to us. Our managers create spreadsheets and present qualified bids for your projects so that the Board can make a quick and well informed decision. All projects are directly overseen by your Property Manager.
Individualized Accounts – We customize areas of our management and procedures to fit the needs of your Association.
Cost/Budget Analysis – We thoroughly review and create a working Operating Budget. We analyze your costs on budget items and work to reduce your costs via our strong vendor relationships.
Bulk Gas Program – We work directly with a bulk gas provider so we can lock you in a very competitive rate (bulk gas availability to your Association is based on volume).
Insurance Program – We have built very strong relationships with several insurance agents that specialize in Condominium Association Insurance. We have been extremely successful in reducing insurance costs for our Associations. In addition, we have our own Workers Compensation Master Policy that will greatly reduce your Workers Compensation costs. Due to the number of properties under our control, Agents will submit the most aggressive pricing.
Real Estate Investment – We are continually mindful that a condominium is the largest investment most owners have. We work with the Board to ensure that the Association is extremely proactive in its maintenance, and that the Association continues to make improvements so that each owner’s investment continues to grow.
Yardi – We recently installed the latest version of Yardi which is the countries premier state of the art Property Management Accounting Software. Everything is at our fingertips and at your disposal.
Your Own Web Page – All of our Associations are able to purchase their own secure home page where residents will have access to minutes, declarations, project updates, etc. Pricing available upon request.

Property Management:

Inspection of Common Areas: Your Property Manager performs regular inspections of all common areas including all mechanical rooms and roof.
Oversee Maintenance of Common Areas: The Maintenance staff, janitor, or cleaning crews are directly supervised by your Property Manager.
All aspects of general maintenance are thoroughly inspected and directed by your Property Manager.
Procurement of Qualified Competitive Bids for Board Approval: Property Managers secure qualified competitive bids from our approved and proven vendors. All bids are broken down and submitted to the Board of Directors.
Attend Four (4) Board Meetings & Annual Association Meeting: We contract with all of our Associations to attend up to four (4) regular Board Meetings and one (1) Annual Board Meeting.
Oversee Common Association Projects: Your Property Manager will directly oversee all common area projects.
Regular inspections are conducted during major capital improvement projects.
Negotiate Vendor Contracts: Kass Management Services Inc. carefully negotiates all contracts with vendors. All of our Property Manager’s are experienced in interpreting vendor contracts, and each manager can effectively recommend appropriate changes/additions.
Handle all Owner Communication: Our company has a guaranteed response time of eight (8) business hours for non-emergencies.
All Property Managers can be instantly reached at any time during the day for emergencies.
Through regular mailings, residents will be notified of all issues pertaining to projects at the Association.
24-Hour Emergency Call Center: All of our Property Managers are on call 24/7 for their own Associations unless they are on vacation.
All after hours emergencies are routed via our answering service.
Communicate with Board on all Association Matters: Our Property Managers communicate directly with the Board of Directors on all Association matters.
Communication is handled via e-mail and phone calls.
Bid Out & Selection of Competitive Association Insurance: We have built very strong relationships with several insurance agents that specialize in Condominium Association Insurance. We have been extremely successful in reducing insurance costs for our Associations. In addition, we have our own Workers Compensation Master Policy that will greatly reduce your Workers Compensation costs. Due to the number of properties under our control, Agents will submit the most aggressive pricing.
Develop Proposed Association Budget: The Director of Property Management and your assigned Property Manager will create a Proposed Budget based on specific building common elements, experience, and similar buildings in our portfolio.
Rules and Regulations: Your Property Manager will work with you to develop an effective and enforceable set of Rules that all residents can live with.
All set procedures for warnings and fines will be handled directly by your Property Manager.
Action Items Checklist: Our Property Managers are required to complete an Action Items Checklist each month. This checklist details out the status of all proposals, projects, as well as the date of all inspections.
All checklists are e-mailed at the close of each month to the Board of Directors.
Accounting Department: A brief overview of our Accounting Services:

Maintain Operating Account
Invoice & Direct Debit of Monthly Assessments
Collection and Deposit of Monthly Assessments
Payment of All Association Invoices
Maintain Association Records
Filing of Annual Tax Return
Filing of Refuse Rebate (if applicable)
Processing of All Sales/Refinances
Assessment Collection: Assessment Notices are mailed out each month to all owners with a complete accounting of everything they owe.
We offer Direct Debit for all assessment payments.
Late notices are mailed out each month as a reminder to all owners about their unpaid balance.
All applicable late fees are automatically assessed in accordance with your Association’s late fee date.
Legal procedures are initiated on a timely basis as agreed upon with your Association Board of Directors.
Monthly Reporting/Accounting: Monthly financial statements are provided to your Association each month.
Our financial statements provide you with a complete budget analysis as well as a complete accounting of all payables and receivables.
All accounting is done on our state of the art accounting system. As our accounting system is windows based, specific information can be easily e-mailed to Association Board’s and owners.
All assessment payments are processed in a timely manner.
Invoices are properly coded and approved by your Property Manager so there is little room for error.
Your assigned bookkeeper processes and pays all invoices on time.
All monthly financial statements are e-mailed to you for quick delivery.
Annual Budget: The Director of Property Management and your assigned Property Manager create a detailed Proposed Budget each year.
The final Association approved budget is placed into our accounting system for complete budget analysis each month.
Newly Formed Associations: The following checklist is used for all new Associations to insure that the Association has been properly set up:

Maintenance Personnel
Cleaning Schedule Check List
Contracts in place – Elevator, Roof, HVAC, Snow, Towing etc.
Utility Change Over • Rule’s & Regulation’s
Carpet Cleaning
Window Cleaning
Annual Sewer Maintenance
Annual Pump & Sprinkler Fire Test
Annual Fire Extinguisher Check
Set Up Building File
Proper Insurance
Annual Report
Refuse Rebate
File Fire Safety Sheet – High Rise 80 ft.
Developer Fire Evacuation Plan
Fire Panel Monitoring Contract
Sale & Moving Requirements
Welcome Packet
Supervisor: Our Condominium Division is run by our Director of Property Management. The Director of Property Management works closely with your assigned Property Manager to ensure support and education on all matters concerning your Association.

Managers Meetings are held every other week where Managers:

Review current problems facing Condominium Associations in Chicago.
Learn new skills on how to properly and effectively communicate with Boards and owners.
Review budget procedures.
Discuss and share vendor info.
Review insurance procedures.
Review the Illinois Condo Act and how to properly interpret Declarations and By-Laws.
Speakers and vendors are invited to attend for continuing education of managers.
Memberships: We are members of:

Community Association Institute
Chicago Association of Realtors
National Association of Residential Property Managers