Adopt Effective Collection Policy for Delinquent Members
In an economy where many associations are still struggling to overcome challenges like vacancies and foreclosures, it’s as important as ever for associations to avoid depleting their reserves and, as a result, making trade-offs about what bills to pay and what services to forgo. That’s where on-time payment of assessments becomes very important. Your community association can face a serious financial crisis if even a small percentage of members don’t pay their assessments on time.
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