Why do communities hire CAMbrands for owner delinquency & collection services?
Delinquent owners take time and resources away from the community that could be used for projects that add value. Typical collection programs are expensive, outdated, and inefficient.
Our collection experts can manage the process from beginning to end while keeping costs down.
HOA & Condo Owner Delinquency & Collection Services
Dealing with delinquencies is part of your job — albeit an unpleasant part.
The funds collected from Association fees and dues are used to improve the community, provide a secure environment, make upgrades to the grounds, as well as make certain services and privileges possible.
But when delinquencies aren’t dealt with in a prompt, professional manner, they can quickly become an out-of-control problem.
Standard collections and delinquency practices can be complicated, inefficient, cost-prohibitive, and time-consuming.
Time-Saving Condo & HOA Collection Programs
Our professionals make every effort to with delinquent owners to establish a payment plan that the owner is able to adhere to and that satisfies the association’s needs.
By working with owners like this, we’re able to minimize the tension and hard feelings that sometimes arise during the collection process, while reducing the cost on the association that is associated with more aggressively pursuing the resident in arrears.
Alternatively, we can report owner delinquencies to the three major credit bureaus in the United States, effectively putting a hold on their personal credit applications for everyday things like credit cards and auto-loans.
Our years of experience have taught us that delinquency rates are very much tied to a community’s collection policy and how quickly and consistently collections efforts are pursued.
That’s why we’ll work with your association to establish a clear policy that everyone understands and then enforce that policy.
Its a Win-Win!
In every situation, we look for the win-win. We want to work with owners to help them meet their financial obligations in a way that honors the commitment they made to the community and that allows the community to continue meeting its own obligations.
We understand the unique difficulties associated with running and managing an Association, and we can help you by streamlining the process in a way that maintains relationships, recovers funds and helps get people back on track.
Contact CAMbrands today to learn more.
