GNO Property Management enters Jacksonville market with help from American Momentum Bank and CINC Systems
JACKSONVILLE, Florida (March 9, 2023) — GNO Property Management, a full-service community management company based in New Orleans, Louisiana, recently entered the Jacksonville market, serving clients in Nassau County.
GNO Property Management currently manages 120 associations – representing approximately 10,400 homes – in the Greater New Orleans Metropolitan area and surrounding communities. GNO provides association management for single-family, townhome, condominium and commercial condominium communities. GNO’s full-service management offers a range of services, including, but not limited to, financial management and organizational support.
GNO will provide two very important services not currently being offered in Jacksonville by competitors, or at least not at the level GNO provides. First, GNO takes a proactive approach to maintenance, and second, they facilitate the structural reports mandated for condo buildings by the State of Florida, according to legislation passed in May 2022.
“While many association management companies are shying away from older condominium buildings due to the structural report requirement, GNO is leaning into it,” said Robert Phillips, owner of GNO Property Management. “We’ve been very successful managing older buildings with their unique challenges in Louisiana. So much so that we have saved our associations money to be used for other expenditures they needed.”
GNO uses CINC Systems, the first cloud-based, bank-integrated accounting and property management platform for the community association industry. CINC’s state-of-the-art software includes banking software integration with GNO’s bank partner, American Momentum Bank. CINC partners with premier banks throughout the country, including American Momentum, to support community management companies with its integrated banking features.
“CINC allows the automation of many of our processes,” Phillips said. “That, in addition to the efficiency of the integrated banking process with American Momentum Bank, has allowed GNO to grow and expand into this new market without major strain on the operational side.”
According to Phillips, in Northeast Florida GNO will initially focus on Nassau County, with plans to eventually expand into St. Johns and Duval counties. His aim is to have at least 10 community associations onboarded by the third quarter of 2023. He selected Jacksonville as the company’s first location outside of Louisiana because he has family in the area and has been vacationing there for 40 years.
“Choosing Jacksonville was a matter of knowing the community and what’s there,” Phillips said. “For community management, it felt like it was the right time to open there and provide service the way it should be done in a way that’s not currently being offered.”
According to Phillips, when he mentioned to Heather Karamitsos, senior vice president, association banking at American Momentum, that GNO was considering entering Jacksonville, the banking team was “100% on board.”
American Momentum Bank is a community bank with 18 full-service banking centers in Texas and nine full-service banking centers in Florida. Its robust association banking division offers a variety of competitive deposit products, specialized lending programs for capital improvements and insurance premium financing. Its association banking team, based in Florida, has more than 60 years of combined experience serving associations.
“We’re thrilled with GNO’s expansion into Northeast Florida and so happy that, with our presence in Jacksonville, we can continue to support them in their growth with all the personalized attention they deserve,” said Heather Karamitsos, senior vice president, association banking at American Momentum.