Dealing With Delinquencies: Make Sure Your Association Has a Collection Policy

A homeowner association depends on the regular income from assessments to pay for services, amenities and common maintenance expenses. Without the timely collection of assessments from homeowners, the association simply cannot function properly. Unfortunately, most community associations at one time or another have to deal with homeowners who default on their assessments. Having a clearly defined policy for payment and collection of assessments, and consistently enforcing it, is essential for every association.  Read the article…………