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Meeting and
conquering the countless steps in making payments,
billing, collections and banking is the business of
property management.
RIPAC fills
an integral role as your partner in this endeavor.
We provide full financial management services
including but not limited to:
banking & fiscal services
. Opening the property bank/trust
account.
. Setting up accounting procedures.
. Recommending an operating budget and management
plan.
. Invoicing for all rent/assessments due, including
common area maintenance charges, insurance,
percentage rent, administrative expenses and late
penalties.
. Making timely deposits.
. Following-up on delinquent accounts and, if
necessary, initiating legal action for curing
defaults.
. Handling accounts payable.
. Preparing monthly financial statements of income
and expense.
. Paying wages and determining tax withholding.
payments & collections
. Collection of condominium fees and other income,
which are deposited into your Association's account.
. If necessary, an aggressive enforcement process of
collection, at no added cost to the association.
. Payment of all approved invoices by the Board of
directors for any non-budgeted expenditures.
. Preparation of annual State and Federal tax
returns.
communication
. Mailing account statements monthly to the Board of
Directors.
. Mailing detail monthly statements to unit owners,
showing any late fees and account balances.
. Annual Mailing of coupon books to owners.
. Review and coding of vendor invoices.
. Optional participation in RIPAC cost saving
programs, such as pest control, insurance, banking
and rubbish removal.
. Mailing of an annual budget to the Board of
Directors, including line item back-up information
30 days prior to the Association's fiscal year if
necessary. |
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