Fight Suspicion with Transparency
I have been working with two groups that have mentioned to me they both have similar challenges. One is family members who own real estate and the other is neighbors of a condo community. In both cases a family member felt his brother did not trust him and the condo neighbor felt his neighbor mistrusted him or felt tension trying to collect late common charges.
To combat suspicion and distrust our service does the following: 1) provide financial reports on time (from a disinterested 3rd party), 2) provide online bill viewing and approval prior to our cutting checks to pay invoices, 3) handling calling delinquent payers (that may be your neighbors) and 4) provide multiple logins to view bank accounts online.
When you have easy to read reports that are on time you have information.
When you can view and approve invoices before payment you have control.
When you don’t have to call neighbors about delinquencies you don’t get dirty looks.
When you can view your bank accounts you have peace of mind.