We’re all aware that the economy has a rhythm or cycle and is also referred to as a business cycle. When the cycle is on an upward trajectory people’s financial situation is improving and as the cycle turns downward their financial situation can deteriorate. The U.S. is experiencing the second longest economic expansion in post…
People naturally want to have control over aspects of their life and this is especially true when it comes to money. Boards are made up of people and so boards also want control over money and for good reason they have a fiduciary responsibility to the owners that elected them. If the Board does all…
As if the job of managing a condo, HOA, or other common interest community association wasn’t challenging enough, many self-managed associations are facing additional challenges from increasing and constantly changing state regulations around the country. You have to ask yourself this question when it comes to complying with state regulations: can your self-managed association keep…
Are you the Treasurer at your condo community or homeowners’ association (HOA)? One Treasurer of a professionally managed community I spoke with spends 20 hours a month on this volunteer role. You are not paid, most unit or homeowners don’t know what you do or appreciate how much time it takes. If owners do know…
Your community recently decided to switch management companies or go from “full management” to self-managed or change software systems. Can you keep your Condo or HOA’s financial data during a transition? That is what we’ll discuss in this post. Is there a way to bring your financial and administrative data over from one system to…
![Switching from TOPS Pro Software to TOPS [One]](https://communityfinancials.com/wp-content/uploads/TOPS-ONE-768x210.png)
TOPS is the most widely used management and accounting software in the community management (condo and HOA) industry. TOPS Pro, TOPS 212, TOPS IQ or other older variants are their older desktop based software. They are tried and tested and have done a good job for its customers for many, many years. TOPS [ONE] is…
One of the software programs we use at Community Financials is TOPS. Tops is the largest software company in the condo & HOA 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. On December 7th, 2018…
When Should My HOA Consider Self-Managing With Accounting Support? Over one third of condo communities and homeowner associations (HOAs) are self-managed. If you have 200 units/homes or less or have a high level of board participation you are a prime candidate to self-manage with support. By support I mean with financial management services, administrative services…
A trend in many industries over the last few decades has been to divide up work among narrowly focused specialists. The medical profession is a great example – no longer do you see a heart doctor but one that specializes in valves or heart arrhythmia procedures. So too community association management is getting more specialized…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
Experience the difference with our professional financial services designed specifically for HOAs and condo associations. Simplify your finances with our expert support.
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