HOA And Condo Collections Questions Answered

Written by Mitchell Drimmer on November 24, 2015. 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.

Fla. Community Association Managers Are Not Practicing Law By Doing Their Job

Written by Mitchell Drimmer on May 15, 2015. Posted in COMMUNITY ASSOCIATION COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOAS

After much testimony and deliberation the Florida Supreme Court has finally ruled in the Unlicensed Practice of Law issue. Florida Community Association Managers are not practicing law by doing their jobs according to the Florida Supreme Court. The 27 page advisory opinion, just released May 14, 2015, is summed up on the last page with the last paragraph concisely named “conclusion”:

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.

How to Create a Strong HOA Collection Policy

Written by Mitchell Drimmer on April 6, 2015. Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., hoa collection agency, HOA COLLECTIONS, HOAS, MARYLAND COMMUNITY ASSOCIATION COLLECTIONS, VIRGINIA COMMUNITY ASSOCIATION COLLECTIONS, WASHINGTON D.C. COMMUNITY ASSOCIATION COLLECTIONS

HOA Fees

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.

Posts Tagged ‘Florida community association collections’

HOA Fees