HOA Collections
Condo & HOA Collections, condo & HOA delinquencies, condo collections, community association collection agency, HOA collection agency, condo collection agency, HOA delinquencies, Condo Delinquencies, HOA Collections,

Why Your Community Association Needs a Uniform Collection Policy…HOA Collections

If left unchecked, delinquencies can become a big problem for your association. It isn’t unusual for someone to miss a payment or two, but when left unaddressed these debts can swell and cause major (but not irreparable) harm to your community. Collecting HOA delinquencies  from your neighbors can be an uncomfortable task but allowing dues to go unpaid out of some misguided sense of kindness will only make the problem worse. The accounts receivable of a community association should be available to all owners, and if it gets out that someone isn’t pulling their weight, tensions can rise.

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Community Association Documents Need to be Available and Cannot be Lost
Community Association Management Best Practices, Condo and HOA Document Retention Policies

COMMUNITY ASSOCIATION ISSUES…WHERE DID EVERYTHING GO?

Establishing A Record Keeping System For Your Condo or HOA Can Save You a World of Trouble When you Need to Produce Them.

Community Association Documents Need to be Available and Cannot be Lost
When you need documents from three years ago…can you find them?

Here is a cautionary tale: A big wind comes and knocks off the roof of one of your condo or HOA buildings and you put in an insurance claim. The insurance company is very happy to honor your claim, but they need to see the last seven years of maintenance records for this roof or they won’t pay. Unfortunately, in the last seven years your board has changed five times and you have been through three management companies and six on site managers. Nobody remembers anything; some old board members have moved on, the management companies did not keep your records, and now your sure-fire claim will surely get denied.

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Community Association Ledger Accounting

ARE YOUR COMMUNITY ASSOCIATION LEDGERS ACCURATE?

AN OVERWHELMING NUMBER OF COMMUNITIES RELY ON OUTDATED ACCOUNTING PROGRAMS AND BILLING PRACTICES THAT RESULT IN FAULTY LEDGERS.

Are your community association ledgers being kept properly? Are they in good enough order that you would sit in a courtroom and swear under oath that they are accurate? If you have any doubt here are a few pointers that may help keep your ledgers in good order.
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