Financial Management Services for Condominium Associations

Take Control of Your Association's Finances

At First Community Management, we provide two distinct service levels for associations in Chicago: Full-Service Association Management and Financial-Only Management. Our Financial Management Services are designed for condominium associations that self-manage daily operations but need expert financial oversight to ensure accuracy, compliance, and long-term financial stability.

With our team handling accounts receivable, payable, and reporting, your board can focus on managing the community—while we handle the numbers.

Our Financial Services at a Glance

Accounts Receivable

Processing of homeowner payments via check, e-check, ACH, and credit card
Automated assessment of late fees and collection notices
Real-time ledger access for board members via our secure online portal

Accounts Payable

Vendor invoice receipt, review, and timely payments
Customizable invoice approval process

Comprehensive Reporting

Monthly financial statements, including balance sheets and income reports
Daily bank account reconciliation for accurate, up-to-date records
Annual financial statements for unit owners
CPA liaison services for seamless annual tax reporting

Flexible Support for Self-Managed Boards

Our Financial-Only Management Services go beyond number-crunching — it includes 24/7 access to our online portal, vendor management tools, and board member training. Optional add-ons include Capital Project Management, bulk umbrella insurance access, Licensed Community Manager support, 1099 preparation, and more.

Need more than just Financial Management?

If your board needs day-to-day operational support in addition to financial services, explore our Full-Service Association Management for complete community oversight.

“Stephanie is the best property manager we have ever had. Not only does she have incredible attention to detail and follow-through, but she frequently goes above and beyond what is expected.”

– Becky L., Board Member

42 unit condo building

Testimonials

    
 
 
         
   Milena DeMario 
 
 
 
 Trustindex verifies that the original source of the review is Google. I've been moving back and forth twice form my current place and First Community Management was very helpful! Kendrick is super responsive over email and always ready to help with any question. His dedication really makes everything easier.
  
 
        
   Joyce Zhao 
 
 
 
 Trustindex verifies that the original source of the review is Google. Zak from Homes of Riversedge has been very helpful with supporting me with move-in and lots of logistical matters. Thanks so much!
  
 
        
   Aaron M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I am a new owner in a building managed by FCM and have been extremely pleased at my experience of working with them, particularly Daniela and Teyha, who made the onboarding process straightforward and helped immensely at reducing the stress involved. Strong recommend.
  
 
        
   Jason Chang 
 
 
 
 Trustindex verifies that the original source of the review is Google. Zak Pekovic was excellent
  
 
        
   Teresita Hardt 
 
 
 
 Trustindex verifies that the original source of the review is Google. Most of my business transactions was handled efficiently by Ms Amanda Chen. She exudes professionalism in all of past requests or any questions and concern addressed to her. Her work ethics are superb, all emails were handled in a timely manner and good with a following and returning messages on an ongoing issues. She is very responsive , friendly and approachable.; all positive experiences.
Ms. Chen deserves a 5* review in “RECOGNITION “ for her dedication to work and be rewarded for her efforts with her  excellent skills in building a strong customer rapport.
  
 
        
   Briana Naseer 
 
 
 
 Trustindex verifies that the original source of the review is Google. Zak was an extremely responsive and helpful administrator when coordinating with repair people, the building, and myself when I had a leak in my unit.  I really appreciate his professional demeanor and prompt service to help schedule repairs between the professionals I hired and the building management.
  
 
        
   Liza Alexanian 
 
 
 
 Trustindex verifies that the original source of the review is Google. I always have a great experience with Zak. He’s consistently professional, super efficient and friendly. He responds quickly to our inquiries and delivers excellent service!
  
 
        
   Armen Alexanian 
 
 
 
 Trustindex verifies that the original source of the review is Google. Zak is great to work with. If you need anything done, he's the man!

Why choose First Community Management?

With decades of experience in Chicago’s condo association management industry, we have the expertise to guide your community through any financial challenge. Our proactive approach, technology-driven solutions, and personalized service ensure that your association’s finances are in good hands. Let us take the stress out of managing your community’s finances.