Dealing with Bad Debt in Community Associations

Occasionally, homeowners can’t or simply don’t pay. When that happens, you do have options, but even with a lien, there is likely to be some amount owed that you aren’t able to recover. Leaving bad debt on your books for too long skews your financial statements and can lead to unreasonable expectations of a community’s financial position.  Bad debt is any amount that is uncollectible. If you’re sure you won’t be able to collect from a delinquent homeowner, you should write off the bad debt.    Read the article…………..


Related Articles

As Building Code Adoption Increases, Insurance Losses Decrease

Maintaining a safe and secure building is a major concern for property owners and managers. Due to the important role

Why Condo Associations Need FHA Approval in 2017

Prior to 2005, few condominium boards paid much attention to Federal Housing Administration, or FHA, financing. At the time, the

How to Handle Aggression Against HOA Board Members

Ideally, all HOA board meetings would be organized, calm, and simple. However, that’s not usually how life works when you