Accounts Receivable

At Teddi Howard LLC, we understand how challenging it can be to manage ___. That’s why our community managers have these tasks built into their routines.

Accounts receivable (A/R) is an agreed upon amount the association has a right to receive from its owners in the form of monthly maintenance fees, other in-house unit maintenance fees, or special assessments.  Maintenance fees are determined at the annual budget meeting and remain constant throughout the year.  Our accountants and bookkeepers are trained professionals skilled in handling your association’s accounts receivable.

 

It is important for an association to monitor its accounts receivable and to immediately follow up with an owner who has not paid as agreed. We provide the association with a monthly aging of accounts receivable as a tool that will help monitor these receivables.

 

A general rule is that the older a receivable gets, the less likely it will be collected.  We will monitor these uncollected fees and alert owners to their outstanding balances via late notices and follow-up calls.