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Financial Services

Condominium financial management services in Southeast Michigan.

Managing financial services for condominium associations requires a team focused on details and the ability to listen to the community's needs and adapt when required. When you work with Premier Condominium Management, you can be confident that your financial planning is managed expertly by local professionals based in Southeast Michigan, not a conglomerate thousands of miles away. You can feel confident that we have your residents' best interests at the forefront of everything we do. We strive to provide accurate, easy to understand documentation for all our financial services so that you can rest easy knowing that your community is in good hands.

Our financial services

  • In-house Collection of Monthly Maintenance Fees, Additional and/or Special Assessments
  • In-house Collection Letters and monthly (not quarterly) Reports on all delinquent accounts.
  • Process Payments from Co-owners for deposit into Association's account(s)
  • Monthly Reconciliations of all bank accounts.
  • Provide Monthly and Year-End Financial Reports.
  • Assist in preparing the Annual Tax Return.
  • Provide Monthly Financial Reports
  • Triple checked maintenance invoice payments; work order required (with Board approval), Community Manager verification, and Accounting Manager approval
  • Implementing a three-step collection process, explicitly designed to minimize the Association's costs, and either getting payment in full or obtaining a firm, legally binding payment plan.
  • Obtain payment coupon books for co-owners (at-cost)
  • Follow-up on delinquent payments
  • Assist legal counsel with collections
  • Maintain separate checking account in association name
  • Deposit all in association account
  • Pay authorized bills
  • Provide check register (disbursement journal)
  • Provide copies of paid invoices when requested
  • Prepare monthly income and expense statement
  • Prepare cumulative income and expense statement
  • Prepare a cumulative-to-actual budget statement
  • Prepare current balance sheet when requested
  • Arrange for the preparation of tax return Coordinate CPA review/audit
  • Monitor financial investment
  • Transfer fund to/from the reserve when authorized
  • Prepare annual operating budget
  • Establish a long-range reserve plan
  • Solicit proposals for reserve studies
  • Review reserve investment policy
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Financial services for condominium associations and other communities

Premier Condominium Management treats our client's finances like we do our own, with meticulous attention to detail. Our in-house team of financial professionals is among the best in the industry and manage the complicated tasks associated with community financial planning while delivering full transparency to your board. Our financial services for properties include:

  • Daily accounting for deposits and payments for your association
  • Payment status updates to members and institutions
  • Triple checked maintenance invoice payments
  • Generation of collection letters, late fee invoices, and legal fee invoices monthly (not quarterly) on delinquent accounts
  • Recommendations on annual budgets based on prior year data and project priorities

Our Southeast Michigan-based staff is always available for direct communication when questions arise. 

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Condominium Financial Management Services in Rochester Hills, MI - community

We manage your association's fee collection services so you can focus on building your community

Premier Condominium Management removes the burden of fee collection for your board by providing simple methods for your residents to stay up to date with the community's monetary obligations. We provide a single-point payment P.O. box and an ACH solution, so there is no confusion about where payments should be sent. We can provide up-to-date account information on all fee payments to your board. When an issue occurs, we manage all collection communications, late fee invoices, and invoices for all delinquent accounts. Our local staff is available to answer any emergency payment questions from your board or your residents. 

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Providing full financial transparency to your board

At Premier Condominium Management, we understand that the first step in building trust with our clients in Southeast Michigan, is to provide the highest financial transparency level possible. We have dedicated ourselves to providing our clients with customized reports that keep them informed and in full understanding of how we are executing their requests and managing their accounts. These reports include but are not limited to: 

  • Income/Expense Reports
  • Budget vs. Actual Comparisons
  • Reserve Fund Summary
  • Cash Disbursements
  • Balance Sheet
  • Profit & Loss Statement
  • List of Delinquent Accounts
  • List of Advance Payments
  • Work Order Summary Report

As a locally-based company, we are available to answer any questions, keeping your board on top of any issues that may arise.

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