HOA fees play a crucial role in the functionality of a community that if one or more residents fail to pay, it impacts everyone. Late and unpaid maintenance fees prevent a community from providing the services needed for it to thrive and improve property value. In cases such as these, it’s important that the association has basic guidelines in place to get them through the collection process as efficiently and smoothly as possible.
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.
Many Florida homeowner associations have faced the issue of collecting delinquent assessment fees after foreclosures. Since there are considerable amounts involved in a delayed foreclosure action, homeowner associations should be aware of the amount that they may or may not be able to recover. Consider using a debt recovery service to ensure you receive the maximum amount of the money owed.
SNAP Collections is an easy, efficient and cost effective HOA collections platform for homeowner associations. Our goal is to ensure that homeowners associations recover more money on delinquent accounts than any other collections solution in the industry. Below are the most common ways in which properties are transferred during a foreclosure and what can be recovered.
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. One option is to hire a collections agency to do the work for you.
As a collections platform for community associations, SNAP Collections will assist your community in recovering money quickly and efficiently, so the other members don’t have to pay for the shortfall. We have provided the pros, cons and outcomes if you were to choose a collections agency over an attorney to handle this matter .
