The first of the year is stressful and important for many management teams within our space. This being a result of the large number of community assessments due on this day. However, there are a few things you can do as a manager to prepare for this..
Preparation is key for this day to run smoothly without any hiccups. Your homeowners need reliability within your systems so they can pay these assessments easily.
How do I prepare for payment season?
The first step is making sure you have up to date contact information. This is essential when sending out communication about assessment changes and assessment reminders. It’s also a good idea to prepare statements (paper and digital) to send out to homeowners. You should also add your online payment options to all statements and coupons, so homeowners know where to go to easily pay these assessments.
FRONTSTEPS provides best-in-class payment services. Communities that utilize this payment solution provide a simple, easy-to-use experience for homeowners. It only takes 3 clicks for these users to pay assessments and get along with their day. FRONTSTEPS enables payments to be made through both web and mobile channels, offering an easy and convenient way for homeowners to pay.
Your payment provider should offer a fully integrated system, so no additional account setup is required. By employing online payment options you’re also eliminating the need for coupons, as these are not required for online transactions. Online payments eliminate the need for manual reconciliation as payments are applied to the correct account automatically. Another aspect of online payments that is particularly nice is that funds appear in accounts sooner. This is a result of have no delay caused by physically having to deposit payments.
Are you ready to prep for January 1st? Connect with a FRONTSTEPS representative today!
