At Romano Litchfield and Associates, we oversee the entire cash flow cycle related to the separate “business” represented by each property and by each client. We utilize online banking services to facilitate and expedite deposits and collections as well as to provide an accurate and detailed accounting history for each of our clients including:
- ACH Debt and Credit Origination
- Wire Transfers
- Current Day Account Information
- Federal and State Tax Payments
- Check Image Services
- Remote Deposit Services
- Payment Processing
- Checking Accounts with FDIC
- Money Market Accounts
- Savings Accounts
- Certificates of Deposit (CD)
Our cash flow management philosophy is grounded on four pillars. First, we want to ensure the financial integrity of our clients’ money. Utilizing the latest electronic banking technology, we are able to maximize accuracy and protection of our clients’ funds.
Secondly, we seek to help our clients maximize cash flow from their properties. The immediate depositing of income and distribution into appropriate accounts for each property allows us to achieve this goal for our clients.
Third, we seek to assist our clients in leveraging their assets for the greatest benefit and return on their investment. This aspect of our services may include consulting on financing, refinancing a loan, or investing cash reserves but there is much more to achieving this goal. Positioning the asset in the marketplace in such a way as to attract, secure and retain the highest quality tenants ensures that our clients receive the highest possible return on their investments.
Lastly, Romano Litchfield and Associates recommends that an adequate cash reserve balance for each property is in place to allow for timely payment of mortgages, for tax and insurance payments, as well as the unexpected, emergency type of expenses that may arise. Additionally, adequate cash reserves allow us to take advantage of cost-saving opportunities on both regular and unusual property expenses.