RemitStream^® Property Management Lockbox

RemitStream Property Management Lockbox

• RemitStream^® Retail Lockbox

  Once residents or owners have sent their payments with a machine-enabled coupon to the dedicated P.O. Box,we process the RemitStream Property Management Lockbox items as retail lockbox payments. Images are captured and coupons automatically read to speed up the payment process.
  
   

• RemitStream^® Exception Handling

  Typically, determining whether exceptions can be processed is time consuming and manual. RemitStream Exception Handling combines three tools to streamline this process.

  • RemitStream^® Exception Handling: Smart Lookup processes payments that are missing coupons by searching a database and automatically filling in the missing information. Over time, Smart Lookup gets smarter, identifying more and more transactions automatically. This minimizes the number of payments that need to be processed as exceptions.
  • RemitStream^® Exception Handling: Stop File Processing automatically rejects and returns payments from individuals who have been flagged by the property manager’s data file. This tools is valuable during eviction and foreclosure proceedings.
  • RemitStream^® Exception Handling: Online Decisioning is a web-based tool that notifies property managers by email of an exception item the day it occurs. Images of the check and coupon can be viewed online to aid in deciding whether to process or not. If a decision is made to process the exception item, it is completed by the end of the next business day. Payments that would have been returned unprocessed can now be deposited sooner.
   

• RemitStream^® Remote Property Management LockboxYour property management customers can remotely capture payments and coupons from multiple homeowners associations and transmit them to our lockbox site for processing. At the site, these payments are combined with mailed paper payments into a consolidated file sorted by homeowners association.

• RemitStream^® Receivables Online: Property Management

  RemitStream Receivables Online: Property Management is a secure web-based application that provides same-day access to check and coupon images. Images can be viewed and printed on the same day that they are processed. Searches can be conducted by homeowners association number or other data in the coupon scanline. Special property management lockbox reports are also available online.

• RemitStream^® Image Lockbox

  Images of thechecks and coupons are accessible online within hours of lockbox processing. Your customers will spend less time looking for copies of checks and coupons and more time focusing on their businesses.

• Image Archive

  Images of checks and coupons are accessible online within hours of lockbox processing and retained in a standard image archive for 180 days with the option to expand to a long-term image archive of one, three, or seven years.

• Encrypted CD-ROMS/DVDs

  Your customers can receive images of checks and coupons on CD-ROMS or DVDs on a daily, weekly, or monthly basis. The CDs and DVDs are encrypted with one of the highest levels of data security available ensuring that they can view their images in a secure environment.

• Data Transmissions

  To comply with legal requirements, funds from separate homeowners associations cannot be combined into one property management company's demand deposit account (DDA). In the past to comply with the requirement, a property management company needed a lockbox for each separate homeowners association. With RemitStream Property Management Lockbox, your customer can have payments mailed to one P.O. Box with the funds credited to each separate homeowners DDA. Remittance Solutions sends data transmissions sorted by homeowners association for automated posting into the homeowners association accounts receivable systems and DDA posting.  .