Accounts Receivable

Accounts Receivable
The management of monthly assessment collection is a function we perform routinely.  With our computerized reporting, board members are in immediate touch with the financial status of the association.

Coupon Books:  Each unit owner would receive on coupon book containing twelve payment tickets.  On ticket is to be sent in with one month's assessment payment.

Lockbox Payments:  For Associations of 40 units or more Cardinal Property Management offers lockbox payment processing.  These payments are deposited directly into your Associations bank account each day.  This is the most secure and efficient way of processing your Associations funds. 

Monthly Assessment Statements can be issued if desired.  Statements will be issued two weeks prior to the first of the month.  All statements will include a detailed history of any delinquencies on the account.  All assessment payments are date stamped immediately upon receipt.  The payments will be recorded and deposited into the Association's bank account by Management.  Your association is free to do business at the bank of your choice.

Delinquent Accounts:  Management will forward any delinquent accounts to the Association's attorney.  We will then update the board on delinquent accounts at the following Board Meeting.

Delinquency Notices:  All delinquent accounts will be issued a notice and statement of account three business days after the assessment is due.

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