I’m Having an Out of Money Experience

Having difficulty staving off the rising tide of delinquencies?  And are the circumstances that have put your association in this position outside of your control?  You can’t control the economy or extinguish the existence of foreclosures and bankruptcies in your community, but you can control how you respond to these and other scenarios that tendGo to Resource

Evaluating Your Collection Effectiveness

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 yourGo to Resource

Receivership: An Alternative Collection Method

Introduction A receivership is the court ordered appointment of a rental manager for a property.  The receiver (rental manager) is a disinterested person who manages the rental of the property, collects the rents and disburses the rents according to a court’s orders.  The receiver should be experienced and knowledgeable in rental property management. The reasonsGo to Resource

Question: What Can We Do with Bank Owned Properties?

Question: What can we do with bank owned properties? Answer: Bank owned properties are becoming more and more common in community associations because the rate of foreclosures is not declining and the real estate market is not moving homes quickly. Unfortunately, many of these homes are often vacant for long periods, may have yards fullGo to Resource
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