Elite Property Management owner launches new business to fill gap in the market
CLEARWATER, Fla. (July 11, 2022) — The owner of Elite Property Management Services has launched a new business to service smaller, self-managed homeowner and condominium associations in need of financial management and reporting services. Wendy Greenaway’s Association Accounting Solutions Inc. will provide associations with secure software to manage financials through American Momentum Bank and CINC Systems, as well as consulting services.
Elite Property Management Services, based in Clearwater, specializes in the management of condominium and homeowner associations, commercial and developer-controlled properties in West Central Florida. Association Accounting Solutions will offer financial management and reporting services to smaller, self-managed associations with less than 100 units.
“Most board members, especially for the smaller associations, don’t have the right tools to manage their association’s financials,” said Wendy Greenaway, CAM, owner and community association manager for Elite Property Management Services. “Unfortunately, a lot of the larger association management firms are washing their hands of the smaller associations or pricing them out of the market, which is why we launched Association Accounting Solutions.”
Through American Momentum Bank, Association Accounting Solutions will have access to CINC Systems, the first internet-based integrated accounting and property management system for the community association industry. CINC partners with premier banks in each state for its integrated banking feature. American Momentum is one of the CINC partner banks in Florida.
CINC’s all-in-one SaaS-based platform drives profitability for community association management companies through cloud-based accounting, state-of-the-art property management resources and full banking integration. The web-based dashboard enables associations to run accounting for clients and process in-house financials, track and manage violations and work orders, and much more.
Elite Property Management Services began working with American Momentum Bank and CINC in 2020, and Association Accounting Solutions will offer the same resources to smaller associations.
“We feel there’s a real need, and we’re looking forward to offering this to smaller associations in need of financial management services,” said Greenaway.
With CINC, associations working with Association Accounting Solutions will have access to a secure software to manage their financials - from receiving invoices and paying bills, to generating monthly and annual financial reports. The tool will also allow associations to monitor their accounts for suspicious activity. In addition to financial management, Association Accounting Solutions will offer consulting services for associations that need extra support with community management.
“Our partnership with American Momentum Bank and CINC has helped us streamline the way we work and made many things that we do easier and more efficient,” said Greenaway. “The American Momentum Bank team is also terrific to work with. They’re very supportive and responsive and provide hands-on customer service.”
American Momentum’s association banking team has more than 60 years of combined experience serving associations in Florida. The bank offers a variety of competitive deposit products, specialized lending programs for capital improvements and insurance premium financing.