How Do I Handle Homeowners Association Payments?
Associations offer oversight of real property to keep. General services are generally provided by contractors, which the homeowners association hires for safety services and landscaping, pool maintenance, garbage collection. Payments for the services are made from dues which can be billed to homeowners. Your responsibilities may involve the management of revenue or the disbursement.
Develop a strategy. Make sure you have a means such as a voucher book or published announcement, for invoicing homeowners for quarterly or monthly payments. Credit cards, debit cards and checks are accepted, and some homeowners institutions accept cash payments. Document invoices to reflect your methods of obligations.
Utilize record-keeping applications that will help you manage payments which are for accounts receivable or accounts payable. Property management companies and homeowners associations utilize accounting software which could help automate your tasks.
Outsource the payment solutions for a homeowners association. Coordinate the functions that are needed with a financial institution or service provider such as an accountant that will help association obligations are managed by you.