HOA Collections…What Do Assessment Fees Cover? Lets Find Out.
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.
Where Do the Assessment Fees Go?
It’s common to assume that everyone has a peace of mind when they know exactly where their money is going and how it’s being spent. In regard to HOA assessment fees, depending on the community, they typically go toward maintenance, security, landscaping, utilities and amenities.
SNAP Collections is an HOA collections agency that strives to ensure an overall better experience for both the association and the homeowner when it comes to HOA assessment fees. We believe that it’s important for residents to understand the true cost of maintaining their property value, so we have provided a list of the basic expenses that the fees cover.
• Association services (trash removal, water, recycling and sewage).
• Insurance for the external buildings, common areas, liability, workers compensation, directors and officers and other protection that your association may require.
• Ground maintenance (landscaping, lawn upkeep, snow removal, tree trimming, asphalt repairs, sidewalks, steps, etc.).
• Pest control (monthly inspections and specific pest control treatments that may be required).
• External building maintenance (roof repairs and painting).
• Professional services (accountants, reserve audits and attorneys).
• Funding reserves in preparation for large projects, replacements and more expensive future maintenance.
• Recreational facilities maintenance (clubhouse, pool, tennis court, walking trail, playground, etc.).
• Janitorial and maintenance services for common areas.
SNAP Collections has been in the business of HOA collections since 2006. Our experience and success speaks for itself, as we are now a national company serving condos and HOA collections from the East Coast to Colorado. Contact us today for more information.
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