To maintain a well-run HOA, you need accurate and timely financial data. When it comes to making decisions for your community, monitoring your income and expenses is critical.
At Gassen, we recognize the importance of meticulously-kept finances. That’s why we offer accounting services in addition to our property management solutions. By combining the two, owners can simplify the entire property management process.
How can you benefit from a property management service that also performs your accounting? Let’s take a closer look.
Online Payments and Automatic Tracking
Many property management services utilize online portals where tenants can pay rent, association fees, and deposits. Within these portals, they can also submit maintenance requests and communicate with management personnel.
Automatic tracking is another useful feature of these online tools as it allows you to monitor tenant payment activity. You can easily see who is making on-time payments, and address tenants with chronic troubles.
By automating your tracking and setting reminders for tenant payments, you can work more efficiently and increase your bottom line.
Accurate Tax Documents
No matter what type of real estate you manage, tax time can be hectic and stressful. Attempting to manage and track your tax information on your own can result in costly mistakes.
Fortunately, you don’t have to rely on your own organization and tracking skills to get the job done. When you use your property management service to do your accounting, you have quick access to your important documents, whenever you need them.
If you have a tax audit, you can easily furnish all the necessary documentation.
Access to Financial Reports
Property management companies like Gassen generate online reports that can give you insight into the financial health of your HOA. You can easily view these reports to determine if there are any issues in need of attention.
With the ability to monitor your budget reports, income, and expenses, you can make better financial decisions for your association. Whether that means assessing additional fees or cutting back on expenses, you can quickly see what is in need of improvement.
A well-funded HOA is critical to maintaining the condition of your community, and recognizing financial issues early is key to avoiding financial distress.
Tailored Loan Options
When your HOA is planning to make improvements that require more funding than the usual repair and maintenance costs, like building renovations or structural reconfigurations, you may need help financing these big projects.
With a property management service that doubles as your accountant, you have immediate access to professional lending partners who can make your capital improvement project a reality.
By working with a company like Gassen who would already understand your finances and know your HOA’s goals, securing your HOA’s financial future is just a phone call away.
Property Management and Accounting Services From Gassen
If you’re looking to simplify the property management process, Gassen is here to serve you. We specialize in HOA management and accounting and take pride in helping our clients succeed.
With over 40 years of experience serving properties throughout the Twin Cities, we know what it takes to help your community thrive.
If you’d like to learn more about our property management or accounting services, contact us today. You can reach us at 952-922-5575, or you can message us on our contact page.