It’s HOA collection season, so our HOA Ninjas want to remind you of the 8 laws and regulations of HOA selections to help your homeowners association to help its members to pay their assessments on time. Following these laws will collect more dues more quickly, and keep your HOA in compliance, so you should have the best chance to earn any potential courtroom cases that may occur.
Don’t delay series in your HOA. Have a written collections policy and follow it with each and every homeowner. Not only does this allow your panel associates to avoid pleas off their neighbors to cut them a rest, but it also insulates your HOA from accusations of discrimination, which can occur when everyone isn’t treated the same.
- Help with business landline
- It should be blue, or white, or both (stripes and assessments are ok)
- Purchasing Managers
- Coordinates and facilitates the Disaster Healing process in case of a catastrophe
Someone on your table needs to be responsible for making sure collections is a regular monthly habit, plus they have to be honest and accountable to the board for the true figures at every conference. If you don’t have such a person, get specialized help. Does your HOA accept bank cards, ACH payments, personal checks, even cash? The first rule of business is to make it easy for the customer to pay.
If your homeowners association doesn’t have current email addresses and phone numbers because of its members when they are current using their dues, take our term, people probably aren’t going to talk about that information when you’re in “bill collector” mode. Have a functional system to upgrade contact info based on checks, telephone, and email messages telephone calls your HOA receives.
The broken home window theory shows that failing to police force small crimes transmits a sign of decay and lawlessness which can lead to bigger problems. Keep an eye out for homes that suddenly seem to be less-well maintained or have a rise in violations. These could sign changes in the house that could impact your association economically.
Every HOA member is a neighbor and deserves respect from the board, property attorneys and managers. Showing respect and understanding can be one of the best ways to get a sum collected and turn a potential adversary into an advocate – we’ve even gotten thank-you notes from homeowners we’ve collected on. Violating fair debt laws or failing woefully to treat all homeowners equally can land your homeowners association in warm water that will cost you thousands in attorneys’ fees to escape. Always follow all laws as well as your covenants, bylaws, and procedures to act – you’ll be glad you do in the off chance the case does wind up in court. Remember everything you discovered in kindergarten and you’ll stay clear of most regulatory violations. Following above laws won’t ensure the collection, but they shall make the procedure stronger, more responsible, and more lucrative.