Properties transfer without assessments being current
Banks and other corporate owners do not pay assessments
Liens are expensive to place using lawyers
Inability to effectively collect special assessments
Once accounts go to the attorney, we have no way of knowing what’s going on without being billed.
Solutions offered by HOA RM: (numbers correspond to those above)
Credit reporting helps ensure sufficient motivation to pay.
We handle delinquencies at an early stage. Statistics show that the earlier a debt is referred to collection, the quicker the recovery.
With low fees, we add predictability to the costs associated with collecting delinquent assessments. No more large attorney fee budgets.
Once HOA Receivables Management learns of a property transfer, we will promptly notify title or escrow company and start collections action against them if necessary. In extreme cases, we will file claims with their E&O policy.
We actively collect regardless of unit ownership. We chase down the responsible manager at the large corporations to make sure the account is paid.
HOA Receivables Management places liens on properties using standard lien forms approved by the bar association for a nominal charge or for free depending on the pricing package. The association pays the recording cost with the county.
HOA Receivables Management’s ability to intensify collection efforts coupled with the credit reporting methodology utilized can effectively entice payment and compliance out of the most obstinate of unit owners.
With our online status tracking system, you can log into our website to get an updated report as frequently as you would like; whether that’s once a week or once an hour.
