Posts Tagged ‘Assessment collections for condos’

Condo and HOA Financial Issues…Renter Escrow Deposits

Written by Mitchell Drimmer on . Posted in COMMUNITY ASSOCIATION COLLECTIONS, community association loans, condo collection agency, CONDOS, Escrow Accounts Condos, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa and condo financials, hoa collection agency, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, maryland hoa collections, SNAP COLLECTIONS, Uncategorized, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

A condo that will remain anonymous has a unique problem that may not at first glance seem like a dilemma but let me assure it is. They have over three hundred and fifty thousand dollars in the bank. The bad news is that money is in an escrow account from renters in case their tenancy results in damages or fines. That’s a one thousand dollar deposit for each and every renter. It is interesting to note that the building only has three hundred units and let’s say it has 70% renters (210 apartments) as occupants. That means there is at least one hundred and forty thousand dollars that should have been refunded to the renters (minus damages) but never were, and are sitting in the association’s bank account.

Effective Community Association Collections…Law Firm or Collection Agency?

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, HOAS, SNAP COLLECTIONS, Uncategorized, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS


Written by: Mitch Drimmer
Every business has their share of those who are unwilling to pay what they owe, and this happens often in Homeowners and Condominium Associations. If you come across unresponsive members, you should be ready to act. Regarding community association collections one option is to hire a collections agency to do the work for you.

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.

What are the Consequences if a Homeowner Doesn’t Pay Their HOA Dues?

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, SNAP COLLECTIONS, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

Many homeowners have an HOA fee that they are responsible to pay for in order to live in the community they purchased their home in, whether it be a townhouse, condo or house. This maintenance fee covers many amenities and services required to keep the community in good shape and protect the community in times of crisis (insurance). Homeowners must adhere to these fees and pay them on time, or there may be serious consequences involved.

One concern many homeowners have is whether they will be affected if other homeowners don’t pay their HOA dues. At SnapCollections, we understand your concern as a responsible homeowner. As a collections agency in Florida serving the entire United States, we have emphasized the importance of HOA dues and how it affects community life.