Page 17 - Tradd Management Proposal- Madison Green

Management Proposal for Madison Green

Standard Operating Procedures

Ease of Start-Up and Transition Process

Step 1: Tradd will develop the transition plan for Board approval

 Tradd Management will meet with the Board 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, Board 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 Boards 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, copies of all plats, surveys,
and building plans. Request electronic copies of the following: financials, bank information,
vendor contracts, vendor licenses, vendor insurance, insurance documents, Board information,
Board ledgers, copies of minutes for Board of Directors meetings, and request keys.

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

 Prepare letter for Board approval, notifying Boards of new management information.
 Letter shall outline benefits and increased value associated with the new direction in
management.
 Enter property, Board, financial and other data into management platform.

Step 4: Operational Set-Up

 Set up operating, capital, and investment accounts with Board as signors.
 Meet with service personnel and providers, and implement bid processes if beneficial.
 Implement revised budget and service contracts meeting Board approval.
 Create Board and board portals with access codes and online payment options.

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Myrtle Beach, SC | Greenville, SC | Charlotte, NC 16

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