Accounting for Condominium Associations in Puerto Vallarta

When 60% of your unit owners live in the US or Canada and cannot attend the annual assembly, transparent bilingual accounting is the only thing standing between your board and a vote of no confidence.

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Who This Is For

  • Beachfront and marina condominium buildings with mixed Mexican and foreign owners
  • Gated community boards managing common areas, security, and amenities
  • Mixed-use condominium developments with residential and commercial units
  • Expat-majority associations needing bilingual reporting for all owners
  • Condo associations that have lost trust in prior accounting management

What's Included

  • Monthly maintenance fee (cuota de mantenimiento) collection tracking by unit
  • Delinquency reporting and owner balance statements
  • Common area expense recording and allocation
  • Reserve fund management — separate account, monthly contributions, balance reporting
  • Vendor invoice verification (CFDI) and payment recording
  • Annual budget preparation and multi-year capital reserve planning
  • Bilingual monthly financial package for the board
  • Assembly-ready annual report in English and Spanish

Why AccountingPV

Accounting experts who know Puerto Vallarta

Transparency Protects the Board

Condominium board members are personally accountable for the association's finances. Clean, audit-ready books prepared by an independent accountant are the strongest protection against owner disputes and liability claims.

Reserve Fund Mismanagement Is the Most Common Crisis

The majority of condo associations we take over have an underfunded or improperly tracked reserve fund. We establish a dedicated reserve account, calculate an adequate funding schedule, and report the balance separately every month.

Every Owner Gets a Statement They Can Read

We produce bilingual owner statements that show balance due, payment history, and how fees are being spent — in English for foreign owners and Spanish for Mexican residents. Transparency reduces complaints at the annual assembly.

Vendor Controls That Protect Association Funds

All vendor payments are documented with valid CFDI invoices. We recommend dual-approval thresholds for large expenditures and provide a complete vendor payment log with every monthly report.

FAQ

Common questions

Condominium regimes (régimen de condominio) have specific legal status under Mexican law. Associations that collect dues and make payments in their own name generally need an RFC. If the association earns any income beyond dues — rental of common areas, parking fees from non-owners — those amounts may be taxable. We evaluate each association's situation.

We maintain a per-unit accounts receivable ledger updated monthly, showing each owner's balance, last payment date, and aging. Delinquency reports are included in every monthly board package so the board can follow up with past-due owners promptly.

The reserve fund should cover major foreseeable capital expenditures — roof replacement, elevator maintenance, pool resurfacing, façade repair. The target amount depends on the property's age, condition, and replacement costs. We calculate a recommended balance and a monthly contribution schedule to reach it.

We prepare a complete annual financial package including income statement, balance sheet, reserve fund report, budget vs. actual comparison, and proposed budget for the upcoming year — all in bilingual format. We can also attend the assembly virtually to answer financial questions from owners.

We provide the board with a monthly owner ledger that can be shared digitally. For associations that want self-service owner access, we can recommend portal solutions that integrate with our accounting system.

This is the most common situation we encounter when taking over a new association. We offer a financial reconstruction service that rebuilds historical records from bank statements, invoices, and receipts, establishing a clean starting point for going forward.

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Related services & resources

Service HOA Accounting Services Accounting designed for homeowner associations. Service Bookkeeping Services Accurate records for your association. Landing HOA Accounting Services Accounting for HOAs in Puerto Vallarta. Landing Property Management Accounting Accounting for property management firms. Resource RFC Registration Guide Register your association with SAT. Resource Frequently Asked Questions Common accounting questions answered.

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