• Financial

    Financial Management

Updates

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Some clients of Hillcrest Property Management choose to use both our building maintenance management and our property management accounting services. Other smaller associations that are used to being self-managed or don’t have many maintenance issues, such as homeowners associations and small condo buildings, only engage us for their property management accounting.

All Financial Services clients receive the below services. If you would like more financials, we can customize – typically without an extra fee!

In addition, we offer credit bureau reporting. This item is extra: a setup fee; no monthly fee. There’s a fee for each requested report, but that is passed on to the resident.

Standard as part of this offering are the below homeowners’ association financial statements and more:

  • Monthly homeowners’ association financial statements:
    • Balance sheet
    • Income/expense statement
  • Other monthly financials:
    • Check register
    • Delinquency report
    • Bank reconciliations
    • Bank statements
    • Paid invoices for the month
  • Hillcrest sends past due notices to delinquent homeowners
  • Payables Lockbox / Avid Xchange – Our associations like this because they can go in anytime, day or night, to view the invoices they are paying. You can do everything online; and it is all automated. (If you desire, Hillcrest can access your accounts. Or, if your board wants to keep control, you can. If your board wants the option to approve before any checks are cut, you have the ability to do that through this system.)
    • Electronic processing of accounts payable
    • Board has option to approve invoices online, and view them day or night
  • Phone and online payments
  • Lockbox for check payments (Free payment option to homeowners)
  • Our HOA Bookkeeping professionals are located in-house.
    • Boards can make an appointment to discuss financials with their HOA bookkeeper in person
    • Direct communication with assigned bookkeeper via phone or email, or in person by appointment
  • Optional: Report to credit bureau on balances over 60 days delinquent
    • This is an additional service provided at an additional fee that the board can opt-in