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THE CONSEQUENCES OF
DELINQUENCIES
In a homeowners' association (HOA), collecting delinquent
assessments is critical to protecting the community's financial
health. Whether they lead to higher assessments, underfunded
reserves, or missed enhancements, delinquencies can cause strain
and affect everyone in the community.
Collecting late payments is important, but doing it the right way is
just as crucial. A mistake can not only tarnish the relationship with
homeowners but also negatively impact the association's budget
and derail future improvement projects.
With almost five decades of experience, Associa has provided
boards with expert guidance on collections. Read on as client
accounting professional Danielle Hawkins explains the eight top
collections mistakes she has seen boards make and tips to avoid
heading down the same path.
About Danielle Hawkins
Danielle works in client
accounting at Associa's
national headquarters.
Along with the rest of the
accounting team, she helps to
ensure that branches across
the country are properly
managing their collections,
avoiding delinquency, and
optimizing their funds.
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