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5. ELECTRONIC BILL & ASSESSMENT
PAYMENT TOOL
One of the biggest struggles that communities face is late assessment fees. When
homeowners fall behind on their HOA dues, it can disrupt cash flow and affect budgets.
A digital payment tool empowers residents to stay on top of their dues, potentially
decreasing delinquencies and the expense of collecting assessments by mail.
An electronic bill and assessment payment portal, such as the one offered by TownSq,
also provides several benefits for homeowners, like:
• The ability to schedule monthly payments.
• Reduced late fees or lost check penalties.
• Saves the time and cost of sending a check via mail.
• Peace of mind knowing their fees are automatically paid.
Switching to a digital payment platform is also a good move for the environment, as it
reduces paper statements and bills that must be sent through the mail.
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