Tips for Collection Policies
The authority to levy and collect assessments is found in the Declaration/CC&Rs of community associations. However, there aren’t typically specific procedures to follow if an owner is delinquent in the payment of assessments. Most condominium and homeowner associations adopt a separate resolution or policy which governs how the association will handle collecting delinquent owners. Here are a few things to consider when adopting a collections policy: Read the article…………….