Collections for condos and HOAs require you to consider this, The Fair Debt Collection industry has established an objective test based on “the least sophisticated consumer”. The purpose of this is to protect consumers. Some are Harvard Graduates and others are less educated and there are always the very clever.
Hundreds of condo owners marched through the streets of Doral on Saturday, April 16 to demand that authorities take steps to stop a wave of fraud hitting their neighborhoods. You can read the entire story in the link that I have provided below at the end of the blog:
After I read this story I sent it to my fellow board members and one of the directors on my board who has a lot of experience governing the condo replied with an outstanding observation of the condominium concept. I have edited some names out so that we don’t get sued by the unscrupulous management company that had control of our condominium for ten years but everything else he says here is verbatim:
Yes, times have changed and people are no longer walking away from their houses and condos because they are underwater but some things stay the same. Is your condominium or HOA still using coupon books to direct owners to pay? Does your management company have a dedicated call center to discuss payment matters with owners? Are people still paying your condo or HOA late every month. Most important, is your management company prepared to handle collections legally, properly and at no cost and no risk? Is your association handling it’s Accounts Receivable correctly?
In my journeys through the community association world I go to a lot of conferences, seminars, board meetings and read hundreds of articles about how to best manage and govern a community association. It has almost become a cliché that communication is the most important aspect in managing an association. While I don’t disagree, I also believe that information and facts are just as important and it is a commodity that is sorely lacking. Plainly stated Solid Information Is Critical