Financial Services
We understand the complexities on the accounting side of managing a community which is why we have a team of knowledgeable accounting staff to help make your life much easier.
Assessment Management:
Evaluate current assessment rates and recommend any changes needed.
Coordinate distribution of periodic assessments and special assessments (as necessary).
Receive and handle accounting for assessment payments from homeowners.
Mail second and final notices on assessments.
Place and release liens on properties for non-payment of assessments.
Coordinate with the Association attorney for additional collection actions.
Provide assessment letters to Title Company and attorneys upon request.
Negotiate payment plans for assessment collections.
Reporting:
Monthly Management Report
Financial Activity Summary – including bank account balances, total unpaid charges and recap of Collections activities
Closing Information Summary – List of New Owners added for the month
Action Items – Recap of projects/tasks for the month
Monthly Financial Packet for Homeowners Published to the Owner Portal
Balance Sheet
Income Statement
Monthly Financial Report for Board Members
Income Statement
Budget Comparison
Balance Sheet
Account Receivable Aging
Receivable Detail – Dues Only
Accounts Payable Aging
Check Register
Bank Reconciliations & Statements
General Ledger
Financial Management:
Pay all invoices by the due date.
Develop an annual budget for the approval of the board.
Reconcile bank statements monthly.
Publish monthly financial reports to the Board.
Provide monthly delinquency reports on assessment collections.
Provide assistance to the Association’s accountants for audits and tax preparations.
Make tax payments upon instruction from the Association’s accountant.
Provide a financial summary for distribution at meetings.
Vendor / Contractor Management:
Negotiate and oversee all maintenance and service contracts for common areas.
Assist the Association in a competitive bidding process for services.
Monitoring relevant certificates of insurance.
Receive service requests for maintenance of property.
Handle problems on a timely basis. Our office hours are 8:00 a.m. to 5:00 p.m. Monday through Friday.
Our Other Services
Get in Touch
Whether you’re a current customer with a question, would like to request a free management proposal, or anything in between we’d love to hear from you. Reach out today!