Archive for April, 2015

HOA Collections…What Do Assessment Fees Cover? Lets Find Out.

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, condo collection agency, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa collection agency, HOA COLLECTIONS, HOAS, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, maryland condo collections, maryland hoa collections, SNAP COLLECTIONS, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, Virginia condo collections, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

As a resident of a community that is run by a homeowners association, you may be accustomed to paying a monthly HOA fee in addition to your mortgage. Maintenance fees may be frustrating to some homeowners due to the fact that they are unaware of the importance of it and where it goes. It’s the responsibility of the homeowners association to educate its residents about what is covered in the assessment and to ensure that no one is left behind. HOA Collections are key to maintaining a top notch community.

Condo and HOA Collections …Can We Sound The All Clear?

Written by Mitchell Drimmer on . Posted in COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, HOAS, maryland condo collections, maryland hoa collections, SNAP COLLECTIONS, Virginia condo collections, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

With the economic recovery in full blossom it would seem that community associations including, Condo and hoa collections are out of the woods and happy days are here again. Sorry, but no. You may see new projects popping up all over and prices on the rise but if your association was established before 2013 chances are you are still plagued with delinquent owners, saddled with doubtful debt and are low on reserves. In other words your association lacks the financial vitality it should have in order for it to be a worthwhile investment. Curb appeal and amenities aside buyers are now more cautious and considering how financially robust the association is before they make their purchases. There is still a lot of work to be done for many associations.

How to Create a Strong HOA Collection Policy

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa collection agency, HOA COLLECTIONS, HOAS, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

HOA Fees

HOA fees play a crucial role in the functionality of a community that if one or more residents fail to pay, it impacts everyone. Late and unpaid maintenance fees prevent a community from providing the services needed for it to thrive and improve property value. In cases such as these, it’s important that the association has basic guidelines in place to get them through the collection process as efficiently and smoothly as possible.