HOA and Condo Online Banking Tools for Board Members

A key part of financial transparency is access to banking information. We selected one of the few national banks that specializes in HOAs and Condo banking. We use this bank to provide operating accounts since as they interface with our accounting systems to provide online payments and checks mailed directly to the bank’s lockbox (a…

Community Financials Visit with TOPS Software in June 2019

Community Financials Visit with TOPS Software in June 2019

One of the software programs we use at Community Financials is TOPS.  TOPS is the largest software company in the HOA & condo industry as measured by the number of management companies using it.  It has 5 times as many clients as the next largest competitor Caliber which we also use.  Community Financials visit with…

Accounting Services for HOAs and Condo Communities

Accounting Services for HOAs and Condo Communities

Homeowners Associations (HOAs) and condo communities use accounting services.  However accounting service is a broad term and can mean different things to different people.  In this post we are going to explain the various accounting services for HOAs and Condo Communities. FINANCIAL MANAGEMENT / BOOKKEEPING On a weekly and monthly basis HOAs and condos require…

The Best Way to Get a HOA or Condo Project Loan

The Best Way to Get a HOA or Condo Project Loan

Getting a loan to buy a home or condo is a real chore.  Now think how difficult it is to get multiple bids for loans for a community to do a capital project? Need a new roof, new windows, new siding, new boiler, or new paving?  As the community gets older its components reach the…