What do you do when you receive a check from a delinquent owner with a restrictive endorsement on it? Do you cash it? Do you return it? Do you call the attorney? A restrictive endorsement is a written statement sent with a payment that either defines what the check is written for (such as “AssessmentsGo to Resource
Collections Resources
In the course of conducting their business, associations regularly send out delinquency notices to owners who have not timely paid their assessments. It has been our experience that some delinquency notices still do not comply with Colorado law. On January 1, 2014, significant revisions were enacted to the Colorado Common Interest Ownership Act (“CCIOA”) withGo to Resource
Collecting Delinquent Assessments – Why Does it Take So Long?
It’s Tuesday night and your board is gathered around the table in the clubhouse reviewing the board packet with last month’s meeting minutes, vendor contracts to review, and the dreaded delinquency report. A collective groan escapes and your treasurer asks, “What can we do to collect on these delinquencies faster? Why does it take soGo to Resource
Collections in a Nutshell Part 2
There’s no escaping it! Delinquencies are everywhere. As delinquencies seem to increase, associations are coming more and more frustrated with the state of their collections accounts. It is precisely for this reason that boards should become familiar with the collections process and what can and can’t be done under the law. This class focuses onGo to Resource
Small Claims Court – How Best to Proceed
With the recent uptick in the economy, individuals have more disposable income, which has attributed to an increase in small claims lawsuits getting filed against associations. Small claims lawsuits fall into one of three primary categories: 1) an alleged failure to follow or enforce the governing documents; 2) an alleged failure to properly and uniformlyGo to Resource