CORI Approved.
APT is approved to receive Criminal Offender Records Information from the State of Massachusetts and State of New Hampshire as a part
of our screening process on applicants to our housing developments. In addition, we are approved to receive the same information on
employees who will have access to master keys/smart cards at any of our developments.
Management Training.
Managers are regularly informed of recent court decisions, new maintenance technology and other such information
that benefit the management of a development.
Operations Manual.
All properties maintain and follow an Operations Manual designed for managing residential property. The Manual includes:
- Affirmative Marketing Requirements
- Budget Preparation
- Contract Bidding
- Eviction Procedures
- Move-In Procedures
- Move-Out Procedures
- Preventive Maintenance
- Purchasing Procedures
- Resident Relations
- Resident Selection
Property Inspections.
Senior Management Inspections are completed on a regular basis to evaluate managers and to advise where improvements may be needed.
Property Insurance.
Quoted by the Senior Vice President to ensure proper coverage and competitive rates.
Resident Handbook.
AMI will create, distribute and maintain a Resident Handbook specifically designed for each property under management.
The Resident Handbook will contain important information pertaining to the community, the development, the apartment, its amenities and the rules
and regulations of the property. Each new resident must sign and date the acknowledgement page indicating receipt and understanding of its contents.
Risk Management Consultant.
AMI contracts with MGM Associates as our in-house Risk Management Advisor. MGM Associates works closely with our team of architects
and builders to implement the latest in security technology in order to incorporate crime prevention into the building design. In addition, MGM Associates
works closely with our team of management professionals to forge a partnership between the public and private sectors, between companies and local law
enforcement. MGM Associates is available to our team twenty-four hours a day for emergencies. MGM Associates also holds monthly risk management meetings
for all property managers to discuss and review crime trends and new security issues.
Building Systems.
AMI firmly advocates periodic training for all maintenance personnel. Many of our current staff members have extensive knowledge of plumbing,
electrical, heating, cooling and structural repairs. In addition, our resources with outside contractors and our “team approach” to management allows us to
professionally respond to any repairs required at a property under our management.
Capital Improvement Programs and Implementation of Needed Improvements.
Because properties within our portfolio are inspected at least quarterly by Senior Management, implementing needed improvements is an on-going process
with Senior Level involvement from the beginning budget process.
Our diverse portofolio affords AMI with a strong network of vendors/contractors who work well with our team of management professionals and
who we can count on to complete the required work in a timely and cost effective manner.
Contracts.
AMI’s procurement policy includes obtaining three written estimates for any one job in excess of $1,000 excluding emergency repairs. Bidding includes
a written Bid Specification with a specific response date. Once the estimates are received, a Bid Summary is completed indicating the contractor responses and costs.
Written contracts are also required. Prior to executing a contract, current certificates of insurance indicating liability and workers’ compensation coverage are required and
reviewed by Senior Management.
Daily Maintenance Procedures.
All maintenance staff members are provided with a written job description which details reporting procedures and job functions.
Energy Conservation.
AMI members are strong proponents of energy conservation. All of our residential developments have undergone lighting programs provided
free of charge by the utility company and installation of water saving devices. All utility consumption is reviewed monthly by the on-site manager and quarterly by
Senior Management and accounting staff.
Inventory Control System.
All properties maintain a computer inventory system. This list is submitted annually to Senior Management for review. This list is filed in the
permanent property folder for comparison with the previous year’s submission. In addition, all stock numbers and serial numbers of major appliances/machinery are maintained
in the Maintenance Log Book which is reviewed quarterly by Senior Management.
Janitorial.
A daily schedule is designed for each development. The employee must initial each area as the work is completed. At the end of each day, the schedule is
returned to the on-site manager for review.
Material and Equipment Access and Utilization.
All material and equipment are kept in a secure, locked supply area or maintenance shop. It is required that the shop be locked at all times when
not in use. The Property Manager and Maintenance Superintendent or on-site maintenance person are the only employees to have access to these areas. New employees are
thoroughly trained on new equipment prior to receiving approval to use the equipment.
On-Call Coverage.
All properties are appropriately staffed in order to provide 24 hour emergency response coverage.
Preventive Maintenance System.
All properties have a written Preventive Maintenance Schedule, specifically geared to that property. Each month, the on-site manager gives the schedule
to the maintenance staff for completion. The person completing the work must sign and date the form. The completed calendar is returned to the on-site manager for review
by month end.
Repairs.
All requests for repairs are written into the work order log book which is a one-write system of work order and log book. One copy of the work request is
left in the resident’s apartment and the other is signed off and returned to the on-site manager for verification and logging of completion. All on-site managers are required
to call residents after receiving the completed work order to verify that the work was completed to their satisfaction. The resident's comments are logged in the
maintenance log book.
AMI prides itself in its ability to service a variety of institutions' financial requirements. The division's reporting flexibility is accomplished through the
use of an IBM AS/400 computer system and AMSI Accounting Software.
The key to providing quality financial management is a sound internal control structure. AMI is sensitive to this fact and addresses this issue immediately
upon transition of a new client. Each development is assigned an accountant who is responsible for the fiscal management. All reports are also periodically reviewed by the Controller.
Institutions for which the Financial Division reports to include:
- U.S. Department of Housing and Urban Development
- Massachusetts Housing Finance Agency
- New York State Housing Finance Agency
- Securities and Exchange Commission
- National Association of Securities Dealers
- Condominium Associations
- Commercial Banking Institutions
- Private Investors
Financial Services available include:
- Budget preparation
- Monthly operating reports (budget to actual)
- Short and long term reserve planning
- Year end financial report and workpaper preparation
- Cash flow and investment analysis
- Quarterly meeting with Owner for financial and budget review
Cash Management Services include:
- Separation of duties
- Rent collection, daily deposits
- Delinquency follow up
- Liaison with attorney for collection problems
- Segregated bank accounts
- Dual signatures on all checks
- Interest bearing accounts
- No bank fees
- Detailed reporting of monthly transactions
- Fidelity bond coverage
- Manager input of cash receipts
Accounts Payable Services include:
- Detailed voucher system
- Manager approval on all vouchers
- Budget control ledgers maintained at each property
- Invoice payment
- Check Registers for each check run
- Voucher Check Register (by general ledger account)
- Payroll timesheets completed for manager signature bi-weekly input at home office
- Automatic Data processing (ADP) payroll system
- Bi-weekly check registers by property
Financial Reporting Services include:
- Compliance with generally accepted accounting principles and governmental standards
- Accrual or cash basis reporting
- Financial package completed by the 25th day of the following month including Operating Narrative; Budget to Actual Operating Statement; Check Register by check run date;
Voucher Check Register by general ledger account; bank statements and reconciliation; accounts receivable
Company Information
