Community association Collections or for that matter any debt that is delinquent often deteriorates into a bitter cycle of pain. The property owner may fall into hard times and cannot afford their payments due to unforeseen consequences and an unfortunate process begins. First, there is the courtesy notes from the association and then when that fails to result into a payment the matter is sent to either an attorney or debt collector for action.
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.
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.
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.
