Transparency and Integrity

In recent times within our western Massachusetts community, we have assumed management of several communities who were the victims of “mis-appropriated funds” through their former manager. 

This is most disconcerting as it cast a shadow on the industry; which is undeserved.

Today, many of the managers and companies are professionally trained and certified. 

Employees have become smarter and better educated and the software has improved.

Spaeth Property Management has made the change to updated programs and “best practices” methodologies to afford clients transparency in reporting, enhanced communications, and real time access.

This is not only critical for the board of directors/trustees but for the individual homeowners as well.

From the perspective of the boards, the need is for the ability to approve all (not just some payables over certain amounts) invoices on an as needed basis (as they are entered, in real time). Several board members can approve invoices and payment will not be made until all requisite approvals are completed. They are entered by a distinct individual at Spaeth.

Once approved, the checks for the invoices are submitted for signature/approval by the company principal or manager of the community association managers. 

The individual who reconciles the system operating statements and the bank accounts has no access to the funds in those account.

Boards are able to review the monthly financial package which includes the balance sheet, income statement, delinquency report, prepaid report, annual budget comparison and the bank reconciliation which includes the bank statements and a system generated reconciliation report. 

Access to the system can be done via pc, laptop or any mobile device, for both the board and the owners.

This is done via a secure online portal and is available 24/7.

Spaeth never asks for personal financial information or to directly debit anyone’s account, owner or association. That is accomplished thru the secure portal and Spaeth has no access to that information.