Having associations funds collected and accounted for is vital for a condominium orhomeowners association to operate. HOA assessment delinquencies will require an HOA management company that can help the board execute a plan of action. That is why RealManage developed a comprehensive collections process, using the best practices from the collections industry and works in conjunction with a community’s specific collections procedures and with the association’s selected collections attorney.
During transition, the association's account will be configured in accordance with the governing documents, association collection policies and the board's directive.
Our HOA delinquent assessment process efficiently and systematically collects past due assessments by becoming more aggressive as the delinquency continues. At the same time, it minimizes unnecessary expenditures for the collection of accounts that may be resolved by bankruptcy or foreclosure. A consistent and uniform approach encourages all owners to pay their assessments on time to avoid additional charges.
The Board will approve all referrals prior to them being sent for further collection efforts so as not to incur additional legal fees until it is deemed necessary by the Board of Directors.
Board members have the ability to refer delinquent accounts to their attorney through the collections approval queue via the Board Portal as well as within the Board/Committee work inbox in the mobile app.