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...read more
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...read more
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...read more
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...read more
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...read more
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...read more
Whether you are an accounting geek, a systems person or just want a deeper understanding of accounts payable we are about to get into the nitty gritty of AP. In a full service management company I was a partner of and President I implemented a powerful AP system in...read more
Life is busy enough let alone adding a condo community or homeowners’ association (HOA) volunteer role to your list of obligations, especially if you are a self-managed community. We have set out to design our community accounting service to make the entire life...read more
A condo or homeowners’ association (HOA) going from full management to self-managed with Community Financials’ support experiences significant cost savings. However a self-managed community going from no cost to paying for a financial management service gets a new...read more
Your association may be larger and you decided you will get more attention by hiring a community manager directly. Some refer to this as an in-house manager, an onsite manager or like in Florida they refer to it as Manager managed – as opposed to Management Company...read more
Are you a board member of a large scale community association? Are you reviewing your large scale community association accounting? You may refer to yourself as a Large Scale Association, A Planned Unit Development (PUD) or just a Planned Community. You may be a...read more
How to Make a Safe Choice Selecting a Company to Handle your Condo Community or HOA’s Bookkeeping & Financial Management
You volunteered for the board and its more work than you anticipated. To reduce the board’s workload you are contemplating hiring a company to do the monthly bookkeeping tasks. You haven’t shopped for this type of service before so don’t feel 100% comfortable, but...read more
Long Form Articles
If you like our blog posts you will love our long form articles.
They are packed with useful information to help your Board.