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TIP 8:
REVISIT AND
UPDATE YOUR
POLICY OFTEN.
Regularly review and update the
collections policy so it remains applicable
and enforceable. Consider feedback from
homeowners and adjust the policy as
needed. Here's what to do when auditing:
• Review communication and
notification processes
• Confirm payment methods and timing
are still acceptable and align with
your accounting measures
• Ensure payment processing is still
secure and handled appropriately
• Verify collections contacts, resources
and information are still current
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