Page 15 - Ocean Bay Club Management Proposal

Management Proposal for Ocean Bay Club

Standard Operating Procedures

Ease of Start-Up and Transition Process

Step 1: Tradd will develop transition plan for Board approval

 Tradd Management will meet with the Board of Directors to review the transition process. This
meeting should take place within 7 days of the acceptance of the management agreement. The
following items will be discussed in detail: property information, owner information, CCR’s & by‐
laws, rules and regulations, existing banking information, vendor information and warranties,
inspection reports or studies, plat surveys, building plans, letter to members acknowledging new
management, review of existing contractors and duties, review of any on‐going projects, create
a list of duties and responsibilities for take‐over, review property as a whole to include all
amenities, equipment, fixtures and appurtenances, website design and function.

Step 2: Tradd to notify current management of the transition decision and process

 Tradd shall contact the existing management company in writing and via telephone to inform
the management company of the transition to Tradd Management. Request the following items
within 7‐10 days: property legal documents, property warranties, and copies of all plats,
surveys, and building plans. request electronic copies of the following: financials, bank
information, vendor contracts, vendor licenses, vendor insurance, community insurance
documents, owner information, owner ledgers, copies of Annual Member's Meeting minutes,
copies of minutes for Board of Directors meetings, copies of minutes for all committee
meetings, and request keys.

Step 3: Change is positive; Notify Owners of New Direction and Benefits

 Prepare letter for board approval, notifying property owners of new management information.
 Letter shall outline benefits and increased value associated with the new direction in
management.
 Input property, owner, financial and other data into management software

Step 4: Operational Set‐Up

 Transfer operating and reserve funds to new accounts
 Meet with service personnel and providers, and implement bid processes if beneficial.
 Implement revised budget and service contracts meeting board approval
 Community portal implementation and revisions

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