Checks are not efficient or convenient
If your association is low on cash, or late on payments, it becomes tough to complete important maintenance jobs or maintain good relationships with valuable partners. It’s easy to see why collecting monthly fees on time is just as important as paying bills when they are due, but any property manager knows that someone is going to pay late.
More options, fewer late payments
By giving residents more convenient payment options than cash or checks, they are more likely to pay on time. Condo Control can be set up to take credit cards, pre-authorized debit, direct withdrawals, electronic funds transfers or ACH payments. Online payments get to the association’s bank account more quickly, and there is less manual documentation required from you.
Accurate account balance details
These payments can be tracked using our accounts receivable solution, and residents get an up-to-date view of their account balance. The margin for error is minimized when the AR system works collaboratively with the system taking the payments.
The fastest way to complete budget mailouts
Speaking of payments, the annual budget mailout can be completed with details about updated monthly payments in hours instead of days. You will be astounded by how much time you save on this traditionally tedious task.
Ensure vendors are paid on time
Pay vendors online using our accounts payable feature. Payments can be scheduled in batches which ensures your suppliers are paid on time without disrupting cash flow.
Mitigate reputation risk
Build even better relationships with vendors through the vendor portal . Mitigate reputation risk and rest easier knowing vendor compliance documents are always up to date. Approve, deny and delete vendors, and rate your favorite companies so that you can find them quickly the next time you need them.