Does your Homeowners Association (HOA), Property Owners Association, or Condo Community have owners that don’t pay their common charges, dues, or assessments on time? I’ve been in this industry since 2001 and the system we have now is the best. Along...
Many Homeowner Association and Condominium Boards make the mistake of equating doing their bookkeeping by themselves or picking a low-cost bookkeeper with saving money. What if I told you that using an HOA and condominium specialized third-party accounting and...
Have you heard about the new radio station, WIIFM? No, WIIFM isn’t really a radio station. It is an acronym for What’s In It For Me. When it comes to the challenge of accurate financial management and bookkeeping for your condominium association or HOA, it is a...
At Community Financials, we often find ourselves rooting for the “little guys”. In a world where condominium associations and HOAs can be made up of hundreds or even thousands of units, the majority of condos and HOAs are smaller in stature. Many have 50 units or less...
When a unit owner or HOA member misses a few payments or stops paying common fees and assessments altogether, most HOAs or condo associations turn to an attorney to help them collect. While this process is common and traditional, it is antiquated and further taxes the...
You may have heard of the banking term lockbox which refers to a bank-operated mailing address to which homeowners mail their payment checks. The checks are then delivered to a bank payment processing facility. This is a more secure and faster way to deposit physical...
