Frequently Asked Questions

• How much are your management fees?

  Every association's needs are different, so we cater our services to our clients' specific needs. Our pricing is based on the scope of work for your community.

• What is included in the financial summary, and how often are they provided to the board for review?

  By the 15th of every month, you will receive a full financial report for the previous month and YTD reporting. These reports include profit and loss statements, balance sheets, delinquency reports, bank reconciliations, and bank statements.This report will also have a pulse check from your property manager on the financial health of the community.

• Does your company assist in the facilitating of annual audits and tax preparation?

  Yes. We will provide the association’s CPA with the proper documentation to file for the association. PMI does not file tax reporting.

• What is your process for the collection of delinquent homeowner accounts?

  When PMI Cross Timbers takes over a new association, we work hand in hand with the Board of Directors as well as follow your governing documents to determine the next steps of the delinquent accounts. Once this is determined we will attempt to communicate with the owner, and they have the opportunity to either pay off their account or set up a payment plan according to your governing documents. If they do not respond and continue to be delinquent after our attempts, they will be handed off to the HOA's collection attorney to file a lien and collect funds. PMI Cross Timbers will maintain constant contact with the Board of Directors throughout this process. It is your community, and we are simply here to guide and follow through with your direction.

• What process do you have to mitigate the impact on the association if a manager leaves your company?

  Each PMI office is independently owned and operated through the corporate PMI system. Policies and procedure have been put in place to mitigate these situations should they arise. The corporate office PMI is headquartered in Salt Lake City, Utah, where all the association’s information is stored. As a member of a community managed by PMI, you can rest assured that your information and data will be stored in multiple locations. You can access it anytime should something happen to your manager or local office.

• What assessment payment options does PMI provide to owners?

  Communities served by PMI Cross Timbers have a variety of payment options. Homeowners can pay online via the portal with automatic ACH Payments, eCheck or a Credit/Debit card. We also accept paper check or Bill Pay via the lockbox system.

• Is your company a member of any industry organizations?

  Yes. PMI is a member of the Community Associations Institute, a global organization dedicated to educating, training, and keeping our company up-to-date with the latest trends and legal changes in every state.