Condominium Fraud and Mismanagement

Written by Mitchell Drimmer on April 18, 2016. Posted in Accounts Receivable, COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASOCIATION COLLECTIONS WHITE PAPER, condo accounts receivable, Condo accounts receivables, CONDO COLLECTIONS, condominium, condominium fraud, CONDOS, hoa accounts receivable, hoa accounts receivables, hoa and condo financials, hoa collection agency, HOA COLLECTIONS, HOAS, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, maryland condo collections, monopolized management firms, SNAP COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

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:

Effective Community Association Collections…Law Firm or Collection Agency?

Written by Mitchell Drimmer on May 4, 2015. 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 April 16, 2015. 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.

Condo and HOA Collections …Can We Sound The All Clear?

Written by Mitchell Drimmer on April 6, 2015. Posted in COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, HOAS, maryland condo collections, maryland hoa collections, SNAP COLLECTIONS, Virginia condo collections, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

With the economic recovery in full blossom it would seem that community associations including, Condo and hoa collections are out of the woods and happy days are here again. Sorry, but no. You may see new projects popping up all over and prices on the rise but if your association was established before 2013 chances are you are still plagued with delinquent owners, saddled with doubtful debt and are low on reserves. In other words your association lacks the financial vitality it should have in order for it to be a worthwhile investment. Curb appeal and amenities aside buyers are now more cautious and considering how financially robust the association is before they make their purchases. There is still a lot of work to be done for many associations.

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