Seaside_Board_Welcome_Booklet

RESPECTFULLY SUBMITTED TO: SEASIDE AT FISHER ISLAND CONDOMINIUM ASSOCIATION, INC. PREPARED BY: PRIME QI MANAGEMENT & CONSULTING

Hello! WE HAVE BEEN SELECTED TO PROVIDE PROPERTY MANAGEMENT SERVICES FOR YOUR COMMUNITY ASSOCIATION, THUS WE WANTED TO INTRODUCE OURSELVES! On behalf of Prime Qi Management & Consulting allow us to thank you for the opportunity to serve your community and your home. Cognizant of the importance business value 'trust' truly is—we don't take this decision lightly. Our unique business concept was and continues to be inspired by the timeless haut traditions of opulent living 17th century European concierge, combined with our high focus to sophistication we are able to deliver the uncompromised novel boutique experiences to our clients. How we show our commitment to maintaining our white-label business model consisted is by developing high standards within our own organization, in doing so we are able to retain exceptional professionals who also shares our ethical passion for our magnificent industry! WE LOOK FORWARD TO SERVING YOU. Prime Qi Team

OVERVIEW OVERVIEW WE FEEL PRIVILEGED TO BE MANAGING YOUR COMMUNITY. We are always looking for ways to improve our business. Our goal is to provide you with the best service and manage your properties efficiently and effectively without ever sacrificing the superior degree of customer service. Our 'Board Members | Welcome Booklet' will highlight what you can expect from the management company and how we truly commit to your association's overall success. We are not a 'one size fits all' property management company, but rather one that puts time and care into enabling organizations to have a customized program developed for them, and tailored to their needs. Our tools integrate into communications, on-boarding, training and sure to spark new conversations and connections—thus building awesome organizations by aligning employees, owners/residents and the external world. WE COMMIT TO MANAGING YOUR ASSOCIATION TO ITS FULLEST POTENTIAL. CONTACT INFORMATION: PAGE 1 A | 66 West Flagler St. STE 900 Miami, FL 33130 O | (786) 297-8988 T | (786) 308-7885 W | www.PrimeQi.com E | [email protected] PRIME QI MANAGEMENT & CONSULTING

PROPERTY MANAGEMENT Kindly take a moment to review the content on this booklet, as its purpose is to assist the Seaside at Fisher Island Board members with the transition of property management services. We bring innovative approaches to operating and managing practices; as well as accountability to the organization, in doing so is how we elevate the bar to make our clients a paragon in our wonderful industry. We look forward to serving your association needs. CONTACT INFORMATION: Thalita Arias | Property Manager LCAM CMCA C | (786) 308-7885 E | [email protected] Jonathan Ospina | Operations Director E | [email protected] Siobhan Sanford | Communications Catalyst E | [email protected] PHYSICAL PROPERTY & HOSPITALITY The level of an employee’s knowledge and experience may create a different understanding of the most simple things, therefore, during our 90 day transition overhaul we will assess, identify any deficiencies and develop a hospitality and service training in order to ensure complete understanding by all, and to facilitate the correct performance of daily job responsibilities, whilst delivering excellent experiences to owners, residents and guest. Our hospitality and service training will become an integral part of the association's culture, with a focus on developing meaningful relationships and nurturing a greater sense of community through various innovative solutions such as 'Virtual Martini Bingo Party', 'Italian Dinner Making', 'Virtual Comedy Show', and many others to choose from. *ADDITIONAL FEES MAY APPLY. PRIME QI MANAGEMENT & CONSULTING PAGE 2

PROPERTY MANAGEMENT CONTINUED PROPERTY MANAGEMENT ACCOUNTING PROCESS OVERVIEW Prime Qi Management utilizes TOPS Software for all functions of accounting including accounts receivable, accounts payable, budgeting and financial reporting. TOPS software provides us with a variety of reports so we may meet every client financial needs. ACCOUNTS RECEIVABLES PROCESS OVERVIEW Assessment payments will be accepted via online payment, check or automatic ACH. In our 'Owners' Welcome Booklet' we will highlight specifics as to how community owners may submit their assessment payments accordingly. ACCOUNTS PAYABLES PROCESS OVERVIEW Vendor payments will be processed via our strongroom lockbox, a completely paperless, invoice-to-pay, AP automation digital application solution that provides our clients with 24/7 on-demand access. Should the Board prefer paper checks, do let us know as we would be happy to accomodate this protocol instead. FINANCIAL REPORTING OVERVIEW Monthly financial reports are typically delivered to our clients by the 15th of the month following the reporting period. All financial reports are compiled into one comprehensive pdf that is also bookmarked by report title for easy navigation. Along with the Property Manager’s Executive we will include a Summary and Budget Comparison with Variance Comments, in addition to current project updates, and maintenance progress. Once the preliminary financials are approved by the Property Manager they are given to the Accounting Manager to review and deliver to the client. In addition, the below mentioned reports will also be included in our monthly Financial & Management Reporting Package: - General Ledger - Balance Sheet Accrual Workbook - Aged Receivables o AR & Prepaid Assessments & Insurance - Journal Entry Register o Building Improvements - Bank Statements & Bank Reconciliations o Other Liabilities - Budget Comparison with Variance Comments o Equity Accounts • Mortgage Statements ASSOCIATION FINANCIAL PROCESS & COLLECTIONS OVERVIEW Owner Association Assessment fees will be collected per the Associations governing documents, and as a courtesy we will generate and mail out a reminder 10 days prior to its quarterly amount being due; reminders will detail the current and following month’s charges and payments received. Furthermore, our team will enable every efforts provided to us by the law to collect all funds owed to and on behalf of the Association. PRIME QI MANAGEMENT & CONSULTING PAGE 3

TRANSITION PLAN WEEK 1 Residents, Owners, Vendors - Introductions & Communications BUILDING BRIDGES a) Welcome Letter to be approved and mailed out to owners and residents. b) Insurance coverage agent review and Certificate Holders revision inquiry. c) Vendor Introductions I. Revise billing address, contact information, and any other needed information. ii. Discuss schedule, scope of work, and contractual agreement details, and etc. iii. Vendor Insurance limit confirmation, update Certificate Holders discussion and, iv. Deliver our 'service cooperation and dedication pledge' farewell. Building Systems - Location, Certification and Everything in Between BUILDING ASSET ACCLIMATION AND MEET & GREET WITH CHIEF ENGINEER a) Confirm locations, condition, readings, logs, safety apparatus, PPE, and more. b) Building access, key system (if any), unit keys and inquiry of current protocol. c) Determine if any access areas need to be rekeyed and other security safety inspection. Banking - Introductions, Set Up and Update Account Information Insurance - Introductions, Update Information, Certificate Holders, and Policy Limits Property Inspection - Physical Condition & Assessment INSPECTIONS / MEET & GREET WITH CHIEF ENGINNER a) Review current scope of work, agreement and inquire (with CE) vendor's history. b) Evaluate service adequacy, quality, and overall delivery of service. c) Inquire on any vendor outstanding work orders, check AP vendor history for any variances, and services which should be considered in the future., Administrative - Records, Data Entry, Forensic AP/AR, Financial, Records Review TRANSITION COORDINATIONS WITH PREDECESSOR a) Draft predecessor introduction communication, for approval of the Board. b) Coordinate delivery of documents, and association owned property. c). Compare and log utility meter reading history, trends and financial variances. d} Vendor Contracts. I. Review vendor contracts currently in effect with the association.. ii. Make adjustments to Scopes of Work based on inspection observations. iii. Recommend rebidding, if necessary. *see transition list for complete itemized tasks and specifics. PRIME QI MANAGEMENT & CONSULTING PAGE 4

TRANSITION CONTINUED WEEK 2 Operating Budget - Association's Financial Status Review RECORDS REVIEW a) Compare YTD Actual, Variances, and others. b) Compare budget, to bids received, and if any discrepancy of both. c) Determine budget dificienciess, yearly audits review and confirm it was finalized. d} Create (virtual) filing system, Association Binders, and YTD Budget/Capital binder. Administrative Protocols Record Building CREATING TOGETHER | BUILDING A CULTURE a) Gather 'Discoveries' in order to develop comprehensive and updated policies and procedures; drafts will be presented to the Board for review and possible adoption of updated rules and regulations, if any. WEEK 3 TO WEEK 4 Qi Prestige Key Performance Indicator Plan Mapping TANGIABLE GOAL MAPPING PREPARATIONS a) Develop 'Prestige Qi KPI Plan' | A Plan we develop for our clients to track objective key performance measurements. With a developed performance indicator plan to use as a guide we can successfully track and analyze performances, in order to maximize operational and financial efforts within the association. Planing consists of quantitative and qualitative objective focus points based on the below specifications: I. Specific, ii. Measurable, iii. Achievable, iv. Relevant, v. Time-based, unbiased performance measurements goals. Quality Assurance and Follow Ups MAPPING SUCCESS INTO NEAR FUTURE a) Ensuring our path remains smoothly aligned, our focus of the transition turns to service quality assurance, tying up loosed ends, and implementation of operations, financial, industry best practices, and strategic instruments to foster association growth. Accounts Receivables DELINQUENCIES | LIS PENDENS | PRE-PAYMENT OWNER APPREACIATION NOTICE PRIME QI MANAGEMENT & CONSULTING PAGE 5

PLANNING CONTINUED WEEK 3 TO 4 Accounts Payables and Maintenance Operations Re-structuring Administrative and Operations Cotinued Efforts Towards Effective Operations PLANNING, AND CONTINUED IMPLEMENTATION OF ADMINISTRATIVE AND FINANCIAL DATABASE TASKS SUCH AS BUDGET VARIANCES, AND ACCOUNTANT YEARLY AUDITS DAY 31 TO 60 Association Reconciliation PREDECESSOR RECONCILIATION OF A/P, A/R AND ASSOCIATION RECORDS a) Ensure reconciliation and transition of documents with predecessor have been finalized and if so, schedule pick up date to retrieve them. I. Obtain copies with owner ledger charges, ii. Reconciliation of prior calendar year’s YTD General Ledgers. Physical Property STANDARD OPERATING PROCEDURES, EMERGENCY RESPONSE AND EMERGENCY SHUT OFFS a) Finalize review and draft revisions to be discussed with Board; when approved implement operation changes, maintenance, repairs, and any other necessary adjustments in order maintain asset's lifetime. I. Review all in place, offer revisions and/or implement industry standards practices, ii. Inspections of PPE, safety hazards, and all items listed in our Property Inspection form. Shaping the Future | Enabling Hospitality In Everyday Moments WHITE-LABEL SERVICE IS STANDARD IN PRIME QI. a) As such protocols and standards will be developed for those serving Seaside at Fisher Island Condominium Association to include, but not limited to: I. We will develop a 'Prestige Qi Hospitality Culture' plan, train and implement it. b) Amenity Activation Planning - Innovative ideas to promote association engagement to be procured and presented to the Board. I. Programming and/or virtual social gatherings will be procured and presented to Board for approval, information on their frequency, what they cost and how they would be funded, if any, would be included in order for Board to make an educated decision in accordance Continued Enforcement | Improvement | Re-Building CONTINUED SUPERVISION, FOLLOW UP AND ENFORCEMENT OUR AGREED UPON THUS FAR. PRIME QI MANAGEMENT & CONSULTING PAGE 6

PLANNING CONTINUED DAY 61 TO 90 Financial Planning & (Capital Improvement) Wealth OPERATION & CAPITAL IMPROVEMENT BUDGET PRE-PREPARATIONS a) Mid-Year Reconciliation to forecast variances wihtin the financial calendar year. b) Determine what action can be taken to reduce any additional charges or credits for year-end budget balance. END OF TRANSITION PROCESS SUMMARY MEET THE TRANSITION MANAGER: Fluent in Portuguese, Spanish and English Certified Manager of Community Association LCAM Licensed since since 2009 Condominiums managed locations included Williams Island, Aventura and Sunny Isles. Thalita Arias | LCAM CMCA FINAL THOUGHTS A NOTE FROM THE TEAM IN PRIME QI MANAGEMENT & CONSULTING: Dear Board Members, During this this unprecedented time of uncertainty and volatility, Prime Qi Management is your trusted advisor to walk you through—our team is dedicated to adhering to stringent quality-control standards to increase your asset value, and ensure a seamless, worry-free transition process is gifted to you. We remain at your service. PRIME QI MANAGEMENT & CONSULTING PAGE 7

THANK YOU FOR CHOOSING US FOR YOUR PROPERTY MANAGEMENT NEEDS! CONTACT INFORMATION: A | 66 West Flagler St. STE 900 Miami, FL 33130 O | (786) 297-8988 T | (786) 308-7885 W | www.PrimeQi.com E | [email protected]