Arizona HOA Management Financial Reports
We were talking with a Spectrum Association Management client the other day and they told us quite a story about their experience with the management company they had before they called us and switched to Spectrum.
This board member works as a financial analyst and said that shortly after moving into their community they realized that there were problems with the finances of the association. They were tipped off to this when they got notices that HOA fees were being raised and yet the development was new with very few amenities or association expenses.
As the community got developed further they learned that the association management company also owned a landscaping company. There were significant fees being charged by the landscaping company to the association and yet this board member discovered the landscaping company was charging for things they never did.
This board member told us it was very difficult for them to discover these financial issues because whenever they asked to see financial reports the association management company took forever to come up with financial documents. And, the documents they produced were basically account summary statements. So, they had to go back and ask for a financial ledger report that showed every expense. It took the management company forever to produce these papers.
When they finally did produce them the board member said they discovered all the problems. And, that’s when they decided it was absolutely time to change management companies. That’s when they got Spectrum.
One of the things our Arizona HOA management clients appreciate most about our refreshingly different customer service is our best-in-class financial services. Every expense your association has ever paid is available at just the click of your mouse button. It’s all online. It’s all ready for you to look at. And, our financial reports are filed every month on time and online. In fact, if you want you can sign up to get an email alert the moment we file your monthly financial report.
To learn more about Spectrum Association Management and our services for Arizona HOA management clients please call us at 480-719-4524.