Monthly Billing, Budget Preparation, & Financial Reports throughout California

As part of our comprehensive property management services, we maintain detailed financial records on a monthly basis. At CONDO PROPERTIES in Upland, California, we facilitate all forms of financial management, including monthly billing, budget preparation, and financial reports.

Billing

We mail home owners monthly statements with return envelopes on or around the 25th day of each month. The monthly billing statements detail the dues for the current month, late fees, special assessments, and any fines that have been applied to the tenant's account.

  
Financial Reports

We prepare financial reports for your association monthly so you stay abreast of all financial information pertaining to your property. These reports include balance sheets, income statements, bank and trust fund account balances, all issued checks, and schedules for both received income and delinquent units.

 
Budget Prep/Reserve Study

Upon your association's request, we can provide a proposed budget for the next fiscal year or assist with budget preparation. This service is provided at no additional cost. The budget will represent a projection of cash receipts and expenditures for the ensuing year. These projections are based on revenue analysis, review of maintenance projects, analysis of recurring and non-recurring services, and estimate of inflation effects.

Collection

In addition to monthly billing statements, we provide various other collection procedures. If payment is not received by the 10th day of the month in which payment is due, we send a delinquent notice to the tenant. If payment is still not received by the 16th day of the month in which payment is due, we attempt to make contact with the tenant to affect payment. Delinquent assessments of 25 days or more will be reported directly to your association for further action.

Unless instructed otherwise by your association, we collect costs from the homeowner or tenant directly. However, extraordinary costs to your association will be paid directly by the homeowner.

  
Trust Account

All regular monthly dues, fees, and assessments will be deposited in a trust account which bears the name of your association or property. We will confer with your association for an approved procedure under which we will transfer funds from the trust account to other accounts (such as savings) as prescribed by law.

Contact us to request more information about our various financial services for property development.