Sunshine, which is owned by Merit, Inc., a well-known Florida corporation that has been managing Florida community associations for over a decade, carries the full suite of insurance you expect and need to see in your management agent’s portfolio.  Of course we include both an Errors & Omissions policy as well as a Crime (Fidelity) policy, to make sure your fund balances are covered.

We use American Momentum Bank, which holds a Five-Star rating from BauerFinancial. American Momentum has 11 branches across Florida and specializes in community association accounts. They have one of the most streamlined and uncomplicated processes for updating signatories in the industry – and they don’t demand that your Board members hand over their Social Security numbers!  While many companies claim to use Five-Star banks, we do more than make that claim: we prove it.  <PDF of Report>

Easily! We offer a number of options, to suit all preferences.

Quick and convenient online payments can be made through the owner portal. Online, owners have the option to make one-time payments as they are due, by credit card or e-check. Alternatively, owners who prefer to set it and forget it can set up recurring payments for assessments.

Of course, owners also have the option of paying by paper check or using their bank’s online Bill Pay system, if they prefer.

A convenience fee of $1.99 for e-check processing or 3.25% for credit card processing initiated on our portal is charged by the portal’s payment processor; unfortunately, Sunshine has no control over this fee. Owners who wish to avoid added fees can set up payments through their own bank’s Bill Pay system, as most banks do not charge for the service.

Yes! Sunshine facilitates all estoppel requests via industry leader HomeWiseDocs™, an institution familiar to most title companies and realtors.  Fees for this service are paid at closing by the title company, and there is no charge to associations.

In your current contract, look for the section usually titled “Termination” or “Term.”  Some contracts are easy to terminate, simply by your sending notice to the company (usually 30 to 90 days’ notice is required), but other companies make it more difficult by requiring “cause.”  We believe that if anyone’s that unhappy in a relationship, they should have the right to leave.

 If you’re unsure of your rights to terminate, ask your association’s legal counsel.  Also, it’s not uncommon for your legal counsel to send the notice of termination on behalf of your association.  NOTE:  You should understand that the association’s legal counsel is responsible to you and the Board of Directors, not to the management company, even if it is typically the managing agent who liaises with the attorney. Just contact the association’s legal counsel with your termination request and explain that they are to keep this confidential from management until notice is provided. FYI: Sunshine contracts simply call for 90 days’ notice, no “cause” required, if you should ever wish to terminate.

We won’t charge you for the drafts of policies that a well-managed association should have in place. We know that it’s substantially easier to run the day-to-day business of your association when Board-approved policies are in effect, such as those covering: Collections, Covenants & Rules Enforcement, Vendors/Contractors, Insurance, Purchasing, Board & Members Meetings, or Inspection & Copying of Records.  We realize these policies aren’t easy to come up with on your own, so Sunshine will provide you with draft documents to initiate the process.  It is imperative that after your Board of Directors reviews and modifies these drafts to their liking, your legal counsel must review them to make certain that any policy is not in conflict with your current governing documents or state law.

No.  As long as your association’s financials are in acceptable order and don’t require additional accounting work to bring them into balance, we’re good to go.

Sunshine uses AvidXchange AvidStrongroom invoice and payment automation to process your vendor invoices quickly and securely.

Florida statutes 718 and 720 require that your financials meet generally accepted accounting principles (GAAP), so we make sure to use the accrual basis of accounting.

Sunshine goes above and beyond to protect your association’s funds and follows all of the industry-recommended best practices, including: 

• Two approvals and signatures are required on all checks.
• Lockbox systems for all assessment deposits means that monies are deposited directly into your association’s bank account.
• Board members have viewing access to the actual online bank accounts.
• Reserve accounts are held separate from operating accounts.
• Bank statements are always included with the Board’s monthly financial packages.

In addition to following the industry-recommended best practices to avoid financial problems, Sunshine also contracts with a separate and independent CPA firm to provide yet a third set of eyes on your monthly financials. Keeping all of these protections in place and adhering to these best practices provides the best protection we can offer for your association and its funds.

There are different levels of financial reporting: communities may be required to have audits, reviews, compilations, and/or reports of cash receipts and disbursement.  However, an association’s governing documents may require one level of financial review, and Florida statutes may require a different level.  Generally, associations must comply with whichever level of review is higher. Your association’s legal counsel can clarify the requirements for you, based on the wording of your governing documents.  

We offer a one-year contract with auto-renewal, for simplicity’s sake –  however, you can terminate the contract at any time and for any reason, with 90 days’ notice.

In most cases, we can have your system up and running and service started within 7 days of receiving your complete data set, signed agreement, and document signatures.