RIPAC is a comprehensive management company specializing in the needs of condominium trusts and owners. For more than 15 years RIPAC has been successful in minimizing owner responsibility and enhancing the investment value of their property.
As a professional Management Company, RIPAC relieves the Board of Directors from the burden and time consuming personal attention to detail needed in running your Association.
Communication & Control
Understanding the unique role communication plays in the success of a property management company has been critical to our growth. All RIPAC employees possess excellent communication skills, including specifically targeted abilities to deal tactfully presenting different scenarios.
Constant and Clear Communication builds relationships, keeps potential problems from starting and help us to continually improve the quality of service we deliver.
Both the PMIT and the CMRS are based on communication. Regular inspections and written reports keep associations, owners and RIPAC Executive Management fully apprised of progress, client satisfaction or special requests.
Coordination and Support
When your Association is managed by RIPAC, you will never stand alone. Constant monitoring and knowledge will always surround you throughout RIPAC’s team of professionals.
At RIPAC, we identify your needs and implement solutions, so you won’t have to.
We will negotiate contracts with outside services such as snow removal, landscaping, rubbish removal, pest control, and more.
When other service is deemed appropriate or necessary, RIPAC will solicit at least three competitive bids from contractors. Bids will be presented with a recommendation, in a clear and concise written form, to the Board of Directors for acceptance.
Routine servicing of the physical property will be scheduled, including long-range capital projects.
Beyond planned services, RIPAC property Managers and maintenance technicians are available 24 hours per day, 365 days per year for any emergency which may arise.
By combining our extensive experience and knowledge of construction principles and law, which our leading ability to coordinate data, diagnose problems and communicate, we are able to provide seamless property management at its best.
Meeting and conquering the countless steps in making payments, billing, collections and banking is the business of property management.
RIPAC fills an integral role as your partner in this endeavor. We provide full financial management services including but not limited to:
Banking & Fiscal Services
- Opening the property bank/trust account.
- Setting up accounting procedures.
- Recommending an operating budget and management plan.
- Invoicing for all rent/assessments due, including common area maintenance charges, insurance, percentage rent, administrative expenses and late penalties.
- Making timely deposits.
- Following-up on delinquent accounts and, if necessary, initiating legal action for curing defaults.
- Handling accounts payable.
- Preparing monthly financial statements of income and expense.
- Paying wages and determining tax withholding.
Payments & Collections
- Collection of condominium fees and other income, which are deposited into your Association’s account.
- If necessary, an aggressive enforcement process of collection, at no added cost to the association.
- Payment of all approved invoices by the Board of directors for any non-budgeted expenditures.
- Preparation of annual State and Federal tax returns.
- Mailing account statements monthly to the Board of Directors.
- Mailing detail monthly statements to unit owners, showing any late fees and account balances.
- Annual Mailing of coupon books to owners.
- Review and coding of vendor invoices.
- Optional participation in RIPAC cost saving programs, such as pest control, insurance, banking and rubbish removal.
- Mailing of an annual budget to the Board of Directors, including line item back-up information 30 days prior to the Association’s fiscal year if necessary.