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When homeowners stop paying their dues, the association can run into a world of problems. With a high rate of HOA bad debt, the association won’t be able to properly budget for or pay the expenses associated with maintaining the community. To recover the loss, a majority of associations will be forced to increase regular dues or levy special assessments neither of which is fair to paying members.
The answer is to bring up to date all the past due accounts. Unfortunately not all HOA management officers are trained to collect delinquent accounts. The HOA needs count with a professional team to assist in collecting debt in the most efficient and lowest cost possible.
Give us a call to set up a meeting to assess your recovery needs and let us offer you a plan to eliminate your delinquent accounts.
At Marint Consulting, we take a proactive approach to collections. Our tools start working for you by identifying delinquencies right away through various accounting integrations.
We begin the collection process almost immediately, starting with a demand letters, and escalating to outbound calls followed by legal action, if necessary. Our tools can be adapted to follow your association’s governing documents, uniform collection policy, and state and federal laws to ensure a proper process that treats delinquent owners as people, not paychecks.
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