Maimi, Florida (PRWEB) June 13, 2013
In the current economic climate, the processing of homeowner association dues and rent payments have become increasingly burdensome and costly for property management companies. Industry leader CNLBank has developed a solution specifically for property management companies looking to decrease costs associated with processing payment exceptions.
Serving more than 600,000 rooftops and 2,500 Associations, CNLBank is a leader in the property management and association services business. “Exception item processing is a top concern for the majority of our property management clients,” states Marc Nuzzolo, CNLBank’s Property Management Business Line Manager.
Exception item processing requires that a person manually input payments when association dues and rent payments are received without a corresponding payment coupon. “Some of CNLBank’s property management clients were dedicating more than 20 staff hours per month processing payment exceptions - we knew we had to offer our clients a more efficient alternative.”
CNLBank’s new service enhancement offers a solution to reduce costs by creating efficiencies associated with the handling of payment exceptions. “In addition to numerous other benefits, CNLBank’s electronic processing system lowers payment exceptions by 80%,” states Nuzzolo.
From lockbox processing to onsite lockbox capture, automated file updates and ACH payment processing, CNLBank offers property management companies a host of benefits. “Our ultimate goal is to decrease operational costs for property management companies and help their businesses run more efficiently,” states Nuzzolo.
CNLBank also offers conversion assistance to ensure that account conversions are seamless and handled by a specialist from start to finish. If you are a property management representative and would like additional information regarding the electronic processing system contact Marc Nuzzolo at 561-961-2480 or mnuzzolo(at)cnlbank(dot)com.
CNLBank, $1.2 billion state-chartered commercial bank, is one of the largest banks headquartered in the State of Florida, offering clients an experienced relationship management team with deep roots in the communities we serve. The bank operates 16 full-service banking offices throughout the state with robust lending and depository capabilities, sophisticated treasury and property management services and excellent customer care. For more information visit CNLBank on the web at http://www.cnlbank.com.