Managing Fines and Fees
One thing we hear about fines and fees is that they sometimes get lost in the shuffle. Is it in the approval process? Has the owner appealed? We believe our process enables boards and managers to stay on top of fines so that everyone knows what is going on.
Our Fines process begins we setting them up. The nice thing about fines is that they already exist by CC&R or existing fine schedule or must be voted on and approved. We have designed our Fines create process to mirror that. You provide the details here in the create and the system will generate the correct information without additional input.
And we realize that most Fines and Fees must go through two steps: First the charge must be approved - someone needs to review the documentation to ensure that it is a valid violation. And once it has been approved, the owners often have the right to appeal. We have built both work flows into our accounting management system. If it is not approved, the owners do not need to worry about appealing and if it successfully appeals, the charge does not need to be reversed from the accounting system.
When operational details are well designed, everyone wins. Manager's can get more work done; Boards know where things are; Owners have confidence. For more information and how we can help your management company clients gain confidence in the information you provide contact us today.