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Suburban Homes

PLANNED UNIT DEVELOPMENTS

Planned unit developments (abbreviated as PUD) are communities where all property owners become members of their community association by virtue of owing their property. PUDs are often comprised of single-family homes, but PUDs can be made up of townhomes or condominiums. A PUD is a question of how the property is organized and owned.  No matter what type of planned unit community you are a part of the experts at Wise Property Solutions can help it reach you reach its full potential.

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PUDs come with their own unique legal and administrative challenges. The financial health of an association (whether condo or townhome board or HOA) can impact you or your prospective buyer’s ability to get a mortgage within the community. Like other HOAs PUDs also come with their own rules and regulations, which you should read and completely understand before choosing to purchase in the community.

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With so much at stake, planned unit developments must be well-run, which is where accredited association management companies like Wise Property Solutions enter the picture. Wise Property Solutions services a wide range of planned unit developments throughout the East Tennessee. Our firm enhances the value of each community we serve by providing consistent, transparent, and professional management. We do this by preserving and maintaining the common property, and supporting the board in its efforts to ensure individual properties are maintained to the community standard.

We are there to take care of the association’s business. We provide a prompt and professional response to homeowner and vendor contacts. We also support the board in establishing policies that maintain the value of each owner’s investment in the community. How do we accomplish this goal? We provide property management services, which can be broken into the following four categories. 

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  • Administrative: These services help your Board manage the PUD community. They include organizing annual owners meetings and elections and taking care of various tax and state filings over the course of the year.

  • Site management: Associations are responsible for maintaining common amenities and property. Depending upon the specific PUD,  associations may be responsible for tasks like yard maintenance. Wise Property Solutions supports Boards address these responsibilities by planning and organizing both regular maintenance and long-term capital projects.

  • Accounting: At Wise Property Solutions, we offer a financial management program that ensures your HOA stays on solid financial footing. These services include accounts receivable, accounts payable, bank account reconciliation, monthly financial reports, and much more. 

To learn more about how Wise Property Solutions can help your planned unit development thrive, contact our office today. You can also visit this page to learn more about our services.

WHAT WE DO 
 

  • Annual Elections/Annual Meetings

  • Attend Periodic Board of Directors Meetings

  • Monthly/Annual Assessments

  • Monthly/Annual Collection of Assessments

  • Monthly Past Due Notification to Owners

  • Payment of Bills

  • Banking & Bank Account Reconciliation

  • Mail Processing and Correspondence

  • Community Web Site

  • Monthly Financial Reports (e.g. Income & Expense, Balance Sheet, and Accounts Receivable)

  • Maintenance Bidding and Scheduling

  • Contact Point for Homeowners

  • Liaison for Escrow Companies and Resale Certificates

  • Financial Management of Assets & Fund Balance as Needed

  • Covenant Enforcement

  • Other Services as Agreed Upon by the Board of Directors

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Will K
Association President

“I was most impressed by Joe’s pro-active approach in handling association and homeowner issues.”

“I had the pleasure of working with Wise while I served on our association Board of Directors and also as President of the association. My experience with Joe and the staff of Wise Property Solutions was always positive. I was most impressed by Joe’s pro-active approach in handling association and homeowner issues. This approach proved invaluable as Joe and his staff guided the association through the difficult and technical process of moving from a developer managed to a homeowner managed association. Joe’s sensible and pragmatic approach made this transition a much easier project. Joe and his staff also handled routine, day-to-day matters with the same responsive, professional, and friendly approach. ”

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