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WHAT IS A
COLLECTIONS
POLICY?
Unfortunately, putting residents
into collections is a challenging
but sometimes necessary duty. A
collections policy is a procedure
that helps an HOA board of directors
establish how and when to respond
to residents who are delinquent on
assessment payments and other fees.
When working correctly, a properly
enforced collections policy should
handle all scenarios impartially,
minimizing inefficiency and maximizing
fairness to get the job done and help the
association receive the fees it's owed.
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