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- Distribute computerized monthly billings to each homeowner. Itemize current monthly dues, prior balances, late fees, special assessments, fines and other charges.
- Collect, deposit and account for miscellaneous income (i.e., laundry, clubhouse rental fees, keys, etc.).
- Maintain accurate records of receipts and expenses.
- Offer Homeowners option to pay by automatic bank deduction.
Prepared on the Accural basis and include:
- A. Balance Sheet.
- B. Income and expense statement showing monthly and year-to-date amounts compared to budget with variances.
- C. Check Register.
- D. Listing of unpaid invoices.
- E. Status report of monthly maintenance fee income (Accounts receivable).
- F. General Ledger.
- G. Reconciled monthly bank statement.
- Assist in establishing the annual budget, and required independent Reserve Study.
- Promptly pay Association's payables twice per month.
- Provide for individual checking and savings accounts for each property, with dual Board signatures, or one Board plus management company signatures as per Board's preference.
- Follow through with collection of any outstanding monies owed to the Association. This includes the filing of NOD'S and liens as provided in the CC&R's in accordance with the Association's delinquency policy.
Our software addresses all of the unique requirements of association management: processes, operations, transactions, communications, accounting and board reporting.
It was designed and built by property management experts, for association management executives. It makes operational, administration and management functions faster, easier, and more productive.