Posts Tagged ‘collections’

Condo & HOA Boards…Eligible versus Qualified.

Written by Mitchell Drimmer on . Posted in Accounts Receivable, condo accounts receivable, Condo accounts receivables, condo collection agency, CONDO COLLECTIONS, condominium, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa accounts receivable, hoa accounts receivables, hoa and condo financials, hoa collection agency, HOA COLLECTIONS, HOAS, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, SNAP COLLECTIONS, snap collections reports to credit bureaus, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

The Florida Condominium Act says that “any unit owner or other eligible person” may be a candidate for the board of directors. An individual is not eligible for board membership if the person has been suspended or removed from the board by the State, is delinquent in the payment of monetary obligations to the condo, or has been convicted of a felony, unless his civil rights have been restored for at least five years as of the date such person seeks election to the board.

HOA And Condo Collections Questions Answered

Written by Mitchell Drimmer on . Posted in COMMUNITY ASSOCIATION COLLECTIONS, condo collection agency, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa and condo financials, hoa collection agency, HOA COLLECTIONS, SNAP COLLECTIONS, snap collections reports to credit bureaus, Uncategorized

Yikes,Mr. Collections Man:

our community association has some members who are not paying their maintenance fees and our attorney bills are already more than what is owed. Is there no other way to collect these fees without spending more money.

Signed,

Sleepless in Saratoga

Dear Sleepless in Saratoga:

Of course there is a way to recover your money but your board of directors needs to think out of the box.  Your attorney is working hard but all that he/she can do is put a lien on the unit and if you want to become landlords foreclose on the unit and recover your money from rental revenue.  Maybe, that is not such a good idea because if a bank forecloses  its possible that all you will recover is the safe harbor amount of the lesser of 12 months or 1% you will be out of a lot of legal fees.

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.