U.S. Bank to oversee finances for Terra West

U.S. Bank has been selected by Terra West, a property and community association management company, to provide financial supervision for the associations it oversees in Southern Nevada.

The bank's Homeowner Association Division will handle lockbox services, enabling Terra West to upload a computer file showing daily transactions for each association.

"We receive thousands of payments each month from the residents of the 158 community associations we manage, and U.S. Bank's services allow us to provide our associations with quick and accurate accounting of these deposits," said Sandra Waddell, chief financial officer at Terra West.

In the planning stage is a program to allow residents to pay their association dues through automatic debit.

As property managers, Terra West assists community boards with budgeting, attends and keeps the minutes for association meetings, collects dues, and enforces CC&Rs. The company also inspects communities to ensure common areas are maintained and that homeowners are in compliance with the CC&Rs.

Terra West Property Management also manages more than 800 rental properties in the Las Vegas Valley.

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