Financial Management – Howard Property Management

association SUCCESS

finances

is managing

the key to

effectively

LEARN MORE

WE’RE HERE FOR YOU

At HPM, we realize that board members are volunteers committed to making their neighborhood better. Many have no experience in managing a property nor background in finances.

We are here to bridge the gap by providing information that is both easy to comprehend and detailed enough to enable informed decisions.

We format our reports so board members can understand where money is being spent so they can conduct better planning. Board members find our monthly financial report layout easy to navigate.

Billing

No more sending payments to another state.
We process all association payments in house.
We pride ourselves in differentiating ourselves from our competitors.

Informative
Transparent
Unit Owner Account Access

Unit owners are entitled to understand their full account history. Through our portal, owners can review their account to verify payment history and to view upcoming assessment information.

Understanding finances is an essential part of property management.

Board members find our monthly financial reports easy to read because they relay the current financial status of an association. We format our reports so board members can understand where money is being spent so they can conduct better planning.

Our proven collection method of billing increases payment rates in an association.

Many management companies rely on outdated coupon books, which do not relay any balance information and can be easily lost over the course of the year. Howard Property Management believes in mailing statements for each billing period, which provides a current balance and detailed information on our account. Members of an association need to know how much they owe in assessments. We comply with fair debt collection standards in order to get assessments paid.

Accounts Payable:
Paying Vendors

Our accounting management allows for timely payment to vendors. Vendors are paid regularly. Prior to approving payment for projects, we inspect to ensure that the work was completed correctly.
With recent mail issues, we provided vendors the option of receiving payment electronically.
We are always looking for solutions as new problems arise.

Portal

Reporting

Billing

Vendors

FINANCIALS

Understanding

Maintaining

Consulting

HOAs

We believe Howard Property Management has an industry-leading understanding of MD Condominium Law 11-114B. Our onsite support helps determine whether an issue originated from the common area or from an individual unit. Unit owners may be responsible for the insurance deductible up to $10,000 for any damage within a unit or that damages another unit should the loss originate within their unit.

Our financial management allows us to bill back unit owners for the deductible recovery and track the income and expenditures for insurance issues.

Understanding

Maintaining

Consulting

HOAs

Maintaining a clean claims history is imperative in today’s insurance market. Not every claim should be submitted to the insurance company. We evaluate any claims that occur to identify the best course of action.

We conduct risk assessment to be proactive in identifying any issues and resolving them expediently

Undertading

Maintaining

Consulting

HOAs

Insurance agents have advised us that Insurance Underwriters across the area are aware of our reputation. Our reputation in the insurance industry offers you better rates.

We work with several insurance vendors to bid out your insurance when needed to maintain the best, affordable coverage.

Insurance agents and underwriters recognize the HPM difference when it comes to management of claims.

Understanding

Maintaining

Consulting

HOAs

While insurance for Homeowners Associations may not be as complicated as Condominium Insurance, each association has its own unique needs based on the makeup of the common area.

Inspections keep us apprised of potential risk and will provide recommendations based on that.

Condominium
Insurance

Convinced?
Let us help you realize true and professional
property management.

CONTACT

410-313-8608

8310 Guilford Road Unit B, Columbia, MD 21046

info@howardproperty.net

Inquiry form for Management Services