How Self Managed Communities Are Spending Less Time Managing Their Financials

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How Self Managed Communities Are Spending Less Time Managing Their Financials

Financial Management

Financial stability and strength are at the core of a community’s success.  It’s also one of the most time consuming and frustrating chores for many boards, especially in self managed communities.

The basics need to include:

  • Accounts receivable
  • Accounts payable management
  • Billing
  • Maintain association bank accounts
  • Prepare financial reports and keep records
  • Notifying homeowners of outstanding balances
  • Handling on-site payroll, insurance and taxes
  • Audit and tax assistance
  •         …and that’s just the basics.

This is why finance and accounting outsourcing is a growing trend providing a cost-effective way for self-managed communities to improve their day-to-day accounting functions while getting complete, accurate, up to date reports and the comprehensive information that meets the requirements of governing documents and the American Institute of Certified Public Accountants.

Some of the Reasons Our Financial Services Makes Sense for a Self Managed Community:

  • Industry Exclusive. Unlike a for-hire book keeper or a jack of all trade accounting firm CPMFS has developed and only works with HOA communities. With 20 years of community financial management experience, we know what you need and we deliver it.
  • 24–hour access to your community’s PORTAL where community information, like governing documents and community rules can be found. Homeowners also learn how to go to their personal account as well as pay bills online
  • Monthly financial reports that are the lifeblood of association management. Corner Property Management makes sure they are easy to read, always accurate and accessible.  Our reporting capabilities allow for any type of board member to easily find what they need.
  • Board Members have access to all financial reports 24/7/365

In addition, outsourcing provides reliable and flexible resources when many communities experience difficulty finding and retaining qualified personnel.

Outsourcing also enables more use of technology platforms, leading to improved reporting, workflow, security and controls.

I invite you to find out how more and more self managed communities are benefiting from our New Jersey Financial Services and join the growing number of communities that are discovering how Corner Property Management is setting a whole new standard in the industry.

Contact Dave Vargas for more information.

973-376-3925

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