HOA Accounting Services Finds a Trusted Partner in Alliance Association Bank
We grow by bringing on small management company clients one by one, in part by offering transparency and showing that we’re a third-party service with additional financial controls for our clients. We are able to obtain more of those clients because of the software integrations Alliance Association Bank provides, which allows us to share that transparency with our clients.
HOA Accounting Services Inc. (HOAAS) is not your typical accounting firm. With over 20 dedicated employees and an ever-growing roster of over 200 clients, it is changing the landscape of financial management for common interest developments, homeowner associations, cooperatives and more. Alliance Association Bank is fortunate to be a small part of supporting HOAAS’ success, thanks to a banking partnership that began in 2019.
HOAAS provides comprehensive monthly and annual financial reporting, billing and accounts receivable services, focusing exclusively on homeowner associations, working with self-managed associations as well as management companies. HOAAS assists with the complete spectrum of accounting needs, including managing day-to-day financials, budgeting, arrangements with CPAs for annual tax reviews and reserve analysts for reserve studies. With three locations across California, the company serves clients nationwide.
“We’ve stayed with Alliance Association Bank, continued to grow with them and tried to move every single association [client] over mainly because of the service and the relationships,” says HOAAS CEO and Owner Tawny Bartel. “The people we work with every day feel like they’re part of our team. We can count on them when something happens — even if it’s not related to banking, we have somebody at Alliance Association Bank who will help find a solution.”
HOAAS also leverages AAB’s ConnectLive technology, which integrates with association management software programs to significantly improve operations. “Alliance Association Bank’s daily reconciling capability has been huge for us,” Bartel explains. “It allows us to be way more efficient, to close the month quicker and be able to serve more clients with fewer employees. Without the software integrations Alliance Association Bank offers, we would need to hire five or more additional employees to handle the workload.”
Bartel adds, “We grow by bringing on small management company clients one by one, in part by offering transparency and showing that we’re a third-party service with additional financial controls for our clients. We are able to obtain more of those clients because of the software integrations Alliance Association Bank provides.”
Not many companies look forward to a software transition, but Bartel believes Alliance Association Bank made it easier. “It was definitely tough, but it went a lot better than it could have because of Alliance’s experience with software conversions. The bank’s deep familiarity with the software helped us make progress faster and get the support we needed to move forward.”
Across the board, relationships are the key factor, Bartel says. “What sets Alliance Association Bank apart is the relationships. It feels like they are part of our company, not just some separate bank. When I’ve called after hours, I can talk to somebody. Somebody’s able to help me when I’ve had a concern that may not necessarily be related to the bank. Alliance Association Bank goes above and beyond in being proactive to allow us to provide the best service to our clients.”