Whether you are developing, selling or purchasing a condo, a pro forma statement can be a vital tool for decision-making, and minimizing risks associated with investing. But in order to be truly useful, pro forma statements must be based on objective and reliable information. This is the only way to create an accurate projection of […]

The numbers don’t lie. Condos and HOAs need numbers to understand essential things like profits and losses, as well as more complex issues such as scheduling maintenance repairs for equipment. Numbers provide boards with concrete facts, and help them make informed decisions for their community. Instead of acting on a hunch, they can act on […]

Don’t believe the rumours. Special assessments aren’t just for condo communities. Any covenanted community can have special assessments imposed; this includes gated communities and HOA-governed communities. Click here to download our special assessment letter template What is a special assessment? Why do homeowners cringe when they hear the words “special assessment?” A special assessment is […]

Accounting is a tedious, but crucial responsibility for condo and HOA property managers. Information is power, and management needs to be deeply familiar with the financial health of their properties in order to plan for the present and the future. If you care for a community, you may have to take on this role yourself, […]

Every successful business is supported by healthy cash flow. Though condominium corporations are considered not-for-profit organizations, they still need to generate revenue to operate well. Someone needs to keep track of profits and expenses to ensure there is enough money coming in to maintain the value of the property and ensure its longevity.    Good […]

Condo buildings are complex and intricate, and they require a reliable source of revenue to maintain the structure, repair systems, keep everything clean, cover emergency or unexpected costs, pay staff, etc. Much of this money comes from owners in the form of condo fees. However, on rare occasions, the corporation or association may be hit […]

Property management companies have their own set of special needs and requirements when it comes to accounting. They may have to process thousands of payments from dozens of different communities, document different invoices from multiple vendors, and let’s not even start on the amount of time it takes to organize and file taxes.It’s a lot […]

Thinking about investing in software to help you manage your properties? That’s a smart idea. Most property managers who choose to use a software system only regret that they didn’t make the decision sooner. However, selecting the perfect program can be a stressful process. There are a lot of options to consider, and what works […]

QuickBooks is easy to use; it offers desktop applications as well as cloud-based versions that handle payments, bills, and payroll functions.

Exciting news! We’ve partnered with Rotessa to simplify online payments for condos and HOAs. Through this partnership, we offer residential communities more convenience, and reduce costs for corporations. This new partnership allows residents to make payments from their chequing or savings account while maintaining their current credit option. What is Rotessa?  Rotessa is an online payment processing […]

Condo corporations are considered not-for-profit organizations. This means they don’t have extra money lying around to pay for things like significant improvements or repairs. They must work with the revenues that they generate from condo fees.Planning for the future is part of good condo management. Some portion of the fees collected from condo owners must […]

It’s not business as usual for any condo community or HOA right now. Some homeowners have been temporarily laid off because of COVID-19. Wages have been drastically reduced for others. People are struggling to make ends meet. Managers and boards may be asking if they can defer or reduce monthly fees to help ease the […]

One of the obligations of an HOA/condo corporation is to ensure the fiscal health of the community. This involves doing a review of monthly financial statements and understanding what’s reflected in numbers like incoming and outgoing payments, insurance payments, contracts, reserves and account balances. Most association board members don’t have the expertise required to fully […]

Find out how to minimize HOA and condo association operating costs without sacrificing the wellbeing of the community or owner satisfaction.

We’ve put together 9 different condo association guides that cover everything from condo fees, to reaching quorum, to creating a website.