Case Study – Floord Insurance
TVPM’s clients are generally located in or near flood zone. The cost of flood insurance generally represents a substantial portion of an association’s total budget and managing this expense is vital. The following case study demonstrates TVPM’s expertise in managing this substantial expense as well as related financial management issues.
Prior to hiring TVPM, a water-front condominium association was in deep financial trouble. The financial issues stemmed from (a) escalating flood insurance premiums, (b) substantial delinquencies in monthly association fees and (c) inadequate reserves. Once TVPM was engaged, their flood zone experience and familiarity with other local properties indicated that the flood plain designation for the association appeared to be incorrect. TVPM facilitated the filing of a Letter of Map Amendment with FEMA that resulted in a change in our flood zone designation. The result was a reduction in the cost of annual flood insurance by almost 50%. Coupled with their problem solving on the delinquencies and the identification of other cost savings, the association was able to begin adequately funding its reserves.
Testimonial – Contractor
One of TVPM’s goals is to ensure that every property we manage is perfectly maintained. This requires interaction with a multitude of contractors. Managing and overseeing the actions of each contractor in a professional and responsive manner is vital to meeting our goal of maintaining your property perfectly. Here is what some of our association’s vendors have to say about working with TVPM:
“It has been my pleasure and good fortune to be associated with Tierra Verde Property Management for all of the many years that they have been in business. As a company that caters to condominiums and home owner associations, our success depends on knowing what our customers want and knowing how best to give it to them. Tierra Verde Property Management excels at communicating to us what our customers want and what their concerns are. When we have questions about one of their properties they give us an answer as soon as we ask. Their professionalism has helped us grow and be successful as well as making their properties among the best properties in town. Thank you Tierra Verde Property Management!”
— David Latimer | Reasonable and Reliable Lawn and Landscape Service
“I am always amazed at how attentive Susan and her crew are to the board of directors and unit owners that they manage. TVPM really does care! TVPM is always professional, courteous and has excellent follow-up for their customers.”
— Donny Morelock | “CPR” Concrete Painting & Restoration, LLC
Testimonial – Gulf Front Condo
The Lido Condominium complex is situated directly on the Gulf of Mexico in the barrier island of St. Pete Beach, Florida. Constructed in 1985, The Lido is an upscale complex with 2, 3 and 4 bedroom units ranging from 1,500 to 3,400 square feet. The resort style amenities include a gulf-front pool, spa, sundeck, tennis courts, recreation rooms and fitness center. Here are their thoughts on TVPM:
“Our Lido Condominium was one of TVPM’s first clients. They have served us well these past 12 plus years. Our property manager is an honest, very capable and dedicated professional. Over the years she has saved us thousands of dollars through her knowledge and efforts of obtaining the best insurance, knowing the best contractors, and not being timid about bargaining on our behalf. TVPM is very quick to respond to our needs and I am very glad that TVPM is our PM.”
— Frank Strahsmeier, Past President and Current Sec/Treasurer | Lido Condominium Association
Testimonial – Historic Residential & Retail
Snell Arcade is a landmark building in St. Petersburg. Built in 1926 this neo-gothic gem is on the National Register of Historic Places and is a mixed use residential and retail complex. Management of a historic property such as Snell requires time and commitment. Here is what they have to say about their property manager and TVPM:
“There’s only one word for Susan Rouanzion and Tierra Verde Property Management: “Terrific!” Our building is small, dated and quirky (to put it nicely). Susan takes care of it as though she was an owner. If she doesn’t know the answer to a problem, she knows somebody who does. The team is responsive and follows up. You couldn’t be in better hands.”
— Dar Webb, President | Snell Arcade Condominium Association
Testimonial – Long-Term Client
Built in 1936, Mt Vernon is located in the heart of St. Petersburg. The complex was converted to condominiums in 2004. The amenities include a beautifully decorated lobby with a grand piano, lap pool, Jacuzzi, exercise room, pool table, elevators, etc. Here are some of the reasons they have been a long-time client of TVPM:
“I have had the pleasure of working with TVPM since 2000; first with an 86 unit beachfront condominium The Gulf Mariner. There I served as a board member. Since 2008 it has been my pleasure to work with TVPM at the Mt. Vernon Condominium Association in downtown St. Petersburg. I am the president of that association and have a long background in property management myself. My experience in multi-family housing gives me a good frame of reference to highly recommend TVPM.
Several traits put Susan and TVPM well ahead of the pack in my assessment. They always complete tasks in a timely manner. Budgets are prepared ahead of schedule. Fire inspections, pool inspections, etc. are always on time or early. Meeting notices are compliant with our documents and our bills are always paid. My phone calls are always returned and my concerns are promptly addressed.
I rate Tierra Verde Property Management 5 Stars.”
— Helen Briley, President | Mt. Vernon Condo Association