Association
- Do you have a written collection policy?
- Do you periodically communicate the collection policy and procedures to owners?
- Do you obtain as much owner information as possible at each new closing?
Management
- Does your manager provide a monthly list of delinquent owners?
- Does your manager provide an aging report of delinquent owners?
- Does your manager provide a historical comparison of delinquencies from year to year or month to month?
- Does your manager follow a standardized procedure for collecting unpaid assessments?
- Does your manager track the costs of collection efforts versus dollars recovered?
- Does your manager analyze the length of time from delinquency to payment in full?
- Does your manager gather information on bank accounts, employers, etc. and forward it to your attorney when collection accounts are turned over?
- Does your manager have an internal system to identify delinquencies and follow up per your established collection policy?
Attorney
- Does your attorney provide you with a monthly status report?
- Does your attorney know and follow your collection policy?
- Does your attorney make recommendations, including more aggressive collection action, when appropriate?
- Does your attorney provide you with copies of pleadings and correspondence?
- Does your attorney know what his or her authority is regarding your collections?
- Does your attorney track fees and costs charged versus dollars collected?