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We are an extension of your property management company’s account payable team. Our service is to you.
The digital world we live in as consumers is not the same reality for the property management industry. That’s why Community Vendor Payment Solutions supports property management accounts payable teams that need reliable and economical credit card processing services across their portfolio of homeowner associations. Digital convenience, timeliness, and security matter in today’s business.
Our company started as an idea while talking with close connections in the industry. We saw a better way to make your payments. We pulled from our experience. We dug in and made it a reality. Today, we have a talented team working, learning, and constantly improving for you.
Case Studies
Can We Pay This Today? (It is 4 pm)
A property insurance bill was due and the approvals from the HOA board had been a long challenge to secure. Finally, the approvals were all in but another challenge emerged -- the bill for renewal was due the same day and it was already 4 pm CT. If the insurance bill was not paid that day, the coverage would be dropped.
With minimal time left, the accounts payable team reached out to their counterparts at CVPS to inquire about immediately paying that bill via credit card. This was an ask out of the ordinary since the daily workflow followed a queue of approved bills to be paid. The property manager was able to clearly point to the new bill placed in the CVPS queue with all of the necessary approvals. Normally, this would have been paid the next business day. However, with the collaboration and means in order, CVPS was able to pay the insurance bill in minutes.
The property manager stayed in good standing with the homeowners association and the insurance coverage continued without disruption.
The Check Is In The Mail
The invoices for services to upkeep a property run the gamut from utilities to pest control to landscaping and more. A property management company, and CVPS client, had the typical long list of bills across multiple properties under their management. The juggling act of keeping track of bills, due dates, and preparations for monthly HOA Board meetings was becoming immensely challenging for the lean property management team.
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The property management team began leveraging the CVPS team to offload bills that could be paid via credit card. This quickly lessened the burden on the property management team and improved their rate of on-time vendor payments. Property management team found this to be more cost-effective than facing late fees and had better working relations with their HOA Boards and vendors.
