Do you live in a community managed by a company specialized in condominium management, but you are not clear about the details of the common expenses and administration fees?
It is common that when a person or a family comes to live in a condominium that maintains agreements for common expenses that involve the correct maintenance of services such as electricity, hot water, maintenance of swimming pools, green areas or others, the amounts rise monthly without providing more information to the members of the community.
This situation causes the owners or tenants to feel uncertain about the expenses incurred by the management company, which are often not reflected in the actual condition of the common areas.
In this situation it is necessary to carry out an audit of the condominium administration, which includes an accounting audit of the common expenses for the last 12, 24 or 36 months.
It is common that when a person or a family comes to live in a condominium that maintains agreements for common expenses that involve the correct maintenance of services such as electricity, hot water, maintenance of swimming pools, green areas or others, the amounts rise monthly without providing more information to the members of the community.
This situation causes the owners or tenants to feel uncertain about the expenses incurred by the management company, which are often not reflected in the actual condition of the common areas.
In this situation it is necessary to carry out an audit of the condominium administration, which includes an accounting audit of the common expenses for the last 12, 24 or 36 months.
In addition, it evaluates whether resources are being used efficiently, and whether all processes comply with the Co-Ownership Regulations and Labor Laws.
In other words, it is an accounting review of the income and expenses of a community where every movement of the current account, the reserve fund, personnel contracts and compliance with maintenance contracts is studied.
But what are the stages of an audit?
- Collection of information
- Progress Status
- Results of:
- Review of expenditures of Common Expenses and their support.
- Analysis of employee status and compliance with legal obligations
- Internal order of information and external contracts
- Analysis of Common Expenses collection
- Resource efficiency analysis
- Analysis of maintenance plans
- Reserve Fund Evaluation
