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Advantage Trademarks Program to Help Clients Track Receivables

8/1/2009
Advantage Management, a leader in the Chicagoland Property Management field, had trademarked a program that will help their clients manage delinquencies during these difficult economic times. The program is called ReceivablesAdvantage.

With foreclosures, credit card debt and delinquencies at historical record highs, associations are at tremendous risk today. Large or small, they count on collecting the assessments they budget for and without them they face the potential of bad debt write offs that can lead to higher assessments, diminsished services and maintenance and an overall decline in property values. ReceivablesAdvanatge tracks delinquencies, owners in collections as well as owners who are 'on the bubble.' This information is presented to the Board on a monthly basis and is in real time. 'The report is not delayed 20 or 30 days,' says Adam Stolberg, President of Advantage. 'Most Association Board members only look at delinquencies when the management company provides them with their monthly financial report. Theses reports are usually 10-30 days old and a lot can happen with an eviction, foreclosure or bankruptcy in that time, ' says Stolberg. 'ReceivablesAdvantage is a supplement to the monthly financial reporting package Advantage provides and it not only identifies current issues, stages of collections, eviction or foreclosures, but details actions taken by management and the association attorney. It also identifies month over month trends, which can help boards deal with cash flow issues,' adds Mary Reese, CPA and Advantage's Director of Accounting.

Neal Shamis, Co-Owner of Advantage says 'The data is simple, no one has taken the time to compile it in a easy to understand format. In addition, we take it a step further and help our clients understand the potential ramifications through a detailed analysis.'