PROSPECTIVE MANAGING AGENT DISCLOSURE
Association Management Concepts is wholly owned by Redwood Holdings Group Inc., which is wholly owned by Redwood Management Partners LLC, with the operating address of 6088 Sunol Blvd, Suite 100, Pleasanton, CA 94566.
No major shareholders or directors hold state licenses, such as for construction, engineering, real estate, or accounting. Association Management Concepts is a member of the California Association of Community Managers (CACM), Education Community for Homeowners (ECHO), and Community Association Institute (CAI). Manager’s community management staff (generally community association managers) are also individually members of CACM and hold the Certified Community Association Management (CCAM) certification. Certain (non-shareholder) employees may hold other professional licenses, such as for real estate.
Association Management Concepts has executed a Association Banking Master Services Agreement with Alliance Association Bank, a division of Western Alliance Bancorp. The service agreements reimburse Management for costs associated with certain administrative services performed by our staff, in our offices or through the internet. Such services include establishing security procedures, maintaining confidential information, compliance with United States Laws, the USA Patriot Act, Corporate Transparency Act, and OFAC, data integrity and review, operating and reserve accounts opening, customer identification procedures, lockbox administration and management, computer software and equipment, software integrations, internal controls, staff training and cross training, check scanning, mobile deposits, online banking, positive pay, electronic online payables and receivables, and association lending. These services incur employee, real estate, and software costs for Management on behalf of the banks. These services result in employee compensation and benefits savings, as well as real estate and equipment expense savings to the bank.
Management utilizes AvidXchange Strongroom to process payables at Management’s expense. AvidXchange provides management companies with a rebate on certain electronic transactions which reduces the monthly service fee Management pays to AvidXchange.
When escrow documents are ordered, Homewise Docs receives a portion of the fees charged in exchange for use of their software and services by Manager. All escrow documents and disclosures provided to members and potential members are the property of the Association.