Automating HOA fee payments requires the association to invest in a payment processing platform. Read this article to learn more.
Having an online payment system could give you back many valuable hours which you could use to take care of other responsibilities.
Managing AP is a lot of work. But it doesn’t have to be so cumbersome. If you feel like you’re drowning in AP paperwork, get rid of the paper!
In order to establish a stronger AP system for your association, accounts payable automation is often the solution.
In order to ensure money is used responsibly, associations create and follow purchasing policies to guide boards, managers, and other staff.
Balance sheets use information from the general ledger to show how much money the association is bringing in and how much is going out.
Living in a strata corporation certainly has its benefits, but regular fees must be paid by every strata member.
In most cases, when given the opportunity to pay online, tenants adapt or may even prefer online payment options.
Good or bad, board members need to know what their numbers look like so they can plan for the year ahead and make necessary adjustments.
A treasurer’s report captures an HOA’s expenses and revenue for a certain time period. Reports may be presented monthly, or less frequently.
An HOA or condo association budget is primarily made up of two sections; an operating section and a reserve section as required by law.
An HOA statement is a document that details the outstanding charges that an owner must pay. Download our HOA statement template.
Learn more about reserve fund studies, how they help associations pay for future repairs and refurbishments, and download our template.
This article will cover how a board or property manager can address the issue of delinquent fees in a fair and productive manner.
If you’re thinking about moving into an HOA, make sure to budget HOA fees or dues into your recurring expenses.