When you are in the Homeowner’s or Condo owners association business, dealing with delinquencies is part of the job — albeit an unpleasant one. It’s essential that owner delinquency and collection services are done in a prompt, professional manner. It can quickly become a problem that is out of control, and that hurts the association and the other residents.
The funds collected from association fees and dues are used to improve the community. Funds are needed to provide a secure environment for the owner, and to make upgrades to the grounds, as well as make certain services and privileges possible.
Building positive relationships with owners and tenants is important. Prompt attention to delinquencies and collections helps to keep things on an even keel and benefits everyone. Overly delinquent payments hurt everyone involved — including the delinquent owner. Late payments and failure to pay takes time and resources away from the community as a whole.
There are a number of reasons for this. Here are some of the downsides to standard collections and delinquency practices:
Many current processes are outdated. If dealing with delinquent accounts has you pulling your hair out, it’s time for a better way. Ardent Residential offers thoughtful solutions to this problem.
At Ardent Residential, we understand the unique difficulties associated with running and managing a Homeowner’s or Condo owner’s association. Whether you are a large or small company, we can help you by streamlining the process in a way that maintains relationships, recovers funds and helps get people back on track. Contact Ardent Residential today to learn more.