Finance-Only HOA Management in Chicago
Your board runs operations. We handle the money — dues collection, monthly financials, budget prep, AP processing, and board portal access. Professional financial infrastructure without full-service fees.
Everything your board needs to stop managing money and start managing the community
Finance-Only is not a stripped-down version of full-service. It is a purpose-built financial management package for boards that want professional accounting infrastructure without giving up operational control.
Monthly Dues Collection & Tracking
We invoice every owner, track payments, send late notices, and manage payment plans. You never chase a check again.
Monthly Financial Statements
Board-ready P&L, balance sheet, and budget-vs-actual reports delivered by the 15th of every month. Clean, accurate, auditable.
Annual Budget Preparation
We build your annual operating budget with line-item detail, reserve funding recommendations, and historical trend analysis.
Accounts Payable Processing
We process vendor invoices, cut checks, and maintain a clean AP ledger. Board approves — we execute.
Board Portal Access
Real-time access to financials, owner ledgers, and documents through a secure online portal. No more emailing spreadsheets.
Year-End Tax Prep Package
Organized 1099s, financial summaries, and documentation your CPA needs — delivered before tax season.
Delinquency Management
Structured collection process: reminders, late fees, payment plans, and escalation to your association attorney when needed.
Reserve Fund Tracking
Separate reserve accounting with contribution tracking and balance reporting aligned to your reserve study.
What Finance-Only does not include
We believe in being upfront. Finance-Only is designed for boards that handle operations themselves. If you need any of the following, our Full-Service tier is the better fit.
- Vendor coordination or maintenance management
- On-site inspections or property walks
- Board meeting attendance (available as add-on)
- Violation enforcement or compliance tracking
- Emergency response coordination
- Insurance claim management
Need some of these? Compare our service tiers to find the right fit, or request a custom proposal with add-ons.
Finance-Only is built for boards that want control — not chaos
How Finance-Only onboarding works
Discovery Call
We review your association's financials, owner count, current accounting process, and pain points. 30 minutes.
Financial Audit
We rebuild the entire books from the beginning of the fiscal year. If a client comes to us in November, we start fresh on January 1 of the next year. For clients onboarding in Q1, we can catch up and enter all information and complete account reconciliations. The financial audit ensures records are extremely accurate, especially owner ledgers.
System Setup
We set up your association in our accounting platform, configure the owner portal, and import all owner data.
Board Training
We walk your board through the portal, reporting schedule, and communication process. Everyone knows how it works.
Go Live
We take over dues collection, AP processing, and monthly reporting. Your board focuses on operations.
Start with Finance-Only. Upgrade when you're ready.
Many of our Finance-Only clients eventually move to Full-Service as their buildings grow or their boards turn over. The transition is seamless — your financials are already in our system, your owners already have portal access, and your accounting history is clean.
Compare Finance-Only vs. Full-ServiceCommon questions about Finance-Only management
What size association is Finance-Only designed for?
Finance-Only is most popular with self-managed associations of 10–30 units where the board is active and has the skill sets to operate independently.
Can we add maintenance coordination later?
If anyone in the association needs maintenance work, they can reach out directly to our sister company, My Handyman Chicago. We are always open to referrals to our maintenance department. Finance-Only clients can also upgrade to Full-Service at any time for full maintenance coordination.
How do owners pay their dues?
Online processing via ACH, debit card, credit card, or auto-pay through our owner portal. The property management software charges processing fees that we cannot avoid. We do not accept checks. If an owner wants to avoid processing fees, they can deposit a check or cash directly at the association's bank branch.
What accounting software do you use?
We use Buildium, our property management software, which has accrual accounting built in. All accounts are always reconciled with double-check internal auditing procedures to ensure 100% accuracy on all expenses.
Do you attend board meetings?
Board meeting attendance is available as an add-on to the Finance-Only package. Many boards find they only need us at quarterly or annual meetings.
What happens if an owner doesn't pay?
Altus Property Partners is not a debt collector. We give notices and formal reminders, and we work with the board to determine the best solution. If the situation requires escalation to collections, we bring in professional debt collectors or attorneys who handle formal notices, payment plans, and potentially liens or legal action.
Ready to hand off the financials?
Tell us about your association — unit count, current financial process, and what's not working. We'll prepare a Finance-Only proposal within 48 hours.