SNAP Collections’ HOA Collections Process
SNAP Collections is an easy, efficient and cost effective HOA collections platform for community associations. Our goal is to ensure that homeowners associations recover more money on delinquent accounts than any other collections solution in the industry. How we do that is by utilizing our financial recovery skills to achieve the maximum return.
The HOA collections process can be an easy one with the right system. If you are considering SNAP Collections as a solution to your dilemma, follow the steps listed below in order to collect successfully and painlessly.
Initiation
The first phase, when entering the HOA collections process, is initiation. This stage is the starting point at which a few steps occur on our end:
- The SNAP Collections Agreement is reviewed and signed by the board of directors.
- Underwriting begins with a review of your association’s governing documents.
- Each ledger is checked and owner is verified.
- Optional ledger audit is performed.
- Begin ongoing ledger maintenance for delinquent ledger.
- Skip Trace is performed.
- Initial Demand letter is sent (compliant with Fair Debt Collections Practices Act).
The Tools of our HOA Collections Process
When embarking on our HOA Collections process, we utilize many tools to ensure that the service we provide is flexible to meet each client’s unique needs. We have divided our tools into individual categories that will cater to your needs:
1. Traditional Collections
- Demand letter
- Outbound calls
- Credit Bureau Reporting
- Estoppels and Payoffs
- Cause the placing of liens
2. Payment Options
- No cost payment plans
- Online portal for payments
- Walk in locations for cash payments
- Multiple payment options
3. Right People/Informative
- Trained bilingual customer service representatives
- Inbound call center and prompt email response
- Telephone calls recorded for quality service
- Ticketing engine to keep trace of all calls and service requests
4. Alternative Collections Options
- Tenant Demand Letters
- Tenant Eviction Letter
- Personal Judgments
- Bank Demand Notices
- Pre-lien Notifications
- Short Sale Listings
- Rental Rehab & Listing
The SNAP Collections Resolution
The Association Financial Services (AFS) then uses its knowledge, experience, in-house counsel and resources to maximize the amount recovered for the association.
SNAP Collections has been successfully collecting delinquent maintenance fees for community associations since 2006. Our experience and success speaks for itself, as we are now a national company serving condos and HOAs from the East Coast to Colorado. Our proprietary HOA collections platform is designed to be transparent so that boards of directors and management can keep track of the status of their collections files.Contact us today for more information.
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