Electronic Lockbox

Our Electronic Lockbox provides unit owners the ability to pay their assessments directly to the association using an E-Check (electronic check)or credit card. Unit owners may schedule and store payment information for up to 12 months. Unit owners will receive a receipt and confirmation e-mail providing a full audit trail.

In addition, Electronic Lockbox provides real-time reports for the management company on a transaction-by-transaction basis. This service collects the billing information on a unit-owner account basis and creates a customized account receivable posting report that can be uploaded into a management company’s receivables system.

With our Electronic Lockbox program, we can help strengthen relationships and improve assessment collections. Use of this service will eliminate mailing time, improve accuracy, reduce collection risk and related expenses, and give unit owners the speedy service they expect. It also provides the management company with the efficient and accurate processes it needs to provide quality financial management of the association. We accept VISA® and MasterCard® credit and debit cards.

When you accept on-line payments you will have the ability to:
• Offer a new option for assessment collections
• Improve customer service
• Offer significant convenience to your customers
• Reduce your accounts receivable
• Improve collections of monthly assessments
• Reduce expense and time involved in the collection process

NOTE: This service is provided for operating assessments only. It is not designed to accommodate special assessments.

Unit owners will be charged a convenience fee for each payment. These fees are subject to compliance with Visa and MasterCard rules and subject to change without notice. Additional fees for this service may also apply.

If you have any questions or would like more information on any of these services, contact one of our Trusted Industry Experts at 847-304-5940 or email service@communityadvantage.com.