AMC has developed business relationships with many providers, including cable television, high speed internet, telecom industries, third party utility billing providers, storage lockers, renter’s insurance, water and energy auditing and conservation experts, on-line payment companies and many others, to take advantage of the best pricing and revenue sharing opportunities available, for the sole benefit of our client’s properties, which is rare and unique in the 3rd party management business, where many management companies supplement their own bottom line by using their client’s properties and residents as a commodity. Alignments with other providers that offer service and economic incentives are constantly under consideration. Additional revenue opportunities that are constantly being evaluated include: installation of washer and dryer connections, energy audits, interior unit upgrades and many others. Each program is evaluated for its service quality, benefit to the renter and value to the property. AMC measures its partner associations by their contribution to the owner’s bottom line.

We provide an Asset Accounting Service (AAS) to service a broad range of clientele from fee client arrangements, partnerships, institutional investors (banks, savings and loans, and insurance companies). The AAS is designed around a "team" concept where highly trained professionals and support staff from various disciplines are assembled to focus on an individual client’s accounting and reporting requirements. The result is that we are able to provide the attention to detail necessary to provide the client with financial information delivered accurately, on time, and in the format dictated. The various components that make up the AAS division includes Accounting Support Services, Banking, Financial Reporting, Mortgages Payable, etc. We utilize various on-site property management software programs, including AIM and Yardi that provide the client and AMC with the most comprehensive database, including prospect tracking, resident demographics, payment history, accounts receivable and accounts payable detail, budget control and maintenance issues, and property financial results. AIM and Yardi have been interfaced with AMC’s customized accounting system to provide the client and us with the most current financial and resident data available.

Trade vendor accounts payables are processed by the on-site staff through AIM, Yardi or other on-site property management software program’s budget control system. This process allows an immediate monitoring of invoice processing against an account by account budget. All processing is validated against the controlled chart of accounts, vendor list, and budget. As part of the entry process on a property pre-defined level, batches of accounts payable are "flagged" for audit. These batches are submitted to the corporate office for review. Until these items are reviewed, no supervisory approval or payment can occur. This process forces quality and internal controls over the on-site processing. Current audit guidelines have been set at 15%. All vendor payment information is passed to the AAS system for inclusion in the general ledger, as well as accounts payable system. Concurrently, vendor accounts payable history is passed to the property thus providing the manager with up to date vendor payment history. All service vendors must carry workers compensation insurance along with substantial liability insurance that is no less than $1,000,000.00 per occurrence and $250,000 auto-insurance coverage. Accounts payable checks are generated on a Laser Printing System. Accounts payable personnel match the checks to supporting documentation and submit them for review.

All resident rental receipt processing is accomplished through AIM, Yardi or other specified on-site property management software programs. Information is processed by the on-site manager and his/her staff processes all resident transactions including move- in and move-out, resident demographics and security deposit refunds. All information is available to the manager through a comprehensive reporting system within the AIM or Yardi system. The flexibility of the system allows tracking of revenues based on client preference. The receivable tracking allows significant history detail for review and audit purposes.

We have separated the payment of taxes, insurance premiums, and mortgages into a separate function due to the time sensitivity of payments. The Accounting team is responsible for initiating payments of mortgages on a monthly basis, monitoring the various taxing authorities for their payment schedules and making payments accordingly, and verifying that insurance does not lapse due to a missed premium payment. In addition, this group monitors and reconciles escrow accounts to determine that they are adequate. Taxes for those properties are tracked automatically from year to year and fluctuations are brought to the client’s attention for possible valuation analysis. Additionally, all taxing authority information is maintained to ensure that all tax bills are accounted for on an annual basis.

The controller opens and closes all bank accounts as dictated by the client. In addition, this group processes the movement of all funds in and out of all property accounts such as depository accounts, reserve accounts, money market accounts, savings accounts and certificate of deposits. The banking group’s primary responsibility is to reconcile all bank accounts and work with the accountant to resolve any discrepancies such as deposits in transit and stale dated checks.

Accountants, AMC Controller and staff assigned to properties assist in the preparation of any owner reports, the review of the financial reports and are directly responsible for the completion of the financial statement package. Under the client’s direction, the accountant interfaces with the client’s asset manager or accounting contact in order to establish a close, on-going working relationship so that any accounting questions or issues can be resolved in a timely manner.

Our Asset management division specializes in providing clients with an impartial, but definitive performance review of an individual asset or an entire portfolio. Our review consists of a thorough analysis of the current condition of the asset. We will identify and breakdown the factors that are contributing to the current condition of the asset. The main factors that we will be offering opinions on are as follows; Management Operations, Marketing, Physical Condition, Resident Relations, Operating Expenses, Real Estate Tax Review, Audit and Compliance Issues, Risk Management and Liability issues, Capital Spending, Replacement Reserve Compliance, Upgrade opportunities, and Ancillary Income opportunities. We will provide a written action plan that will incorporate solutions and counter the deficiencies that are exposed in our performance review. We will assist during the transition period to make sure our client’s interests are protected. Our division is structured to operate in a long-term capacity and can operate as a buffer between management and ownership. We can provide monthly reports to our clients consisting of; monthly financial statement review (providing trend reports of any fluctuation in performance), impartial market reviews, physical condition reports (providing pictures and descriptions of any deferred maintenance items), capital improvements (tracking owner or lender mandated repairs), quarterly resident surveys, and an overall monthly summary of operations.