Navigating the Delicate World of Debt Collection: How To Collect What You’re Owed, Even During Difficult Times
Like the Great Recession and other crises before it, the COVID-19 pandemic has cast a bright light on how community association managers and their clients should handle the collection of past due assessments.
High unemployment and mortgage delinquency rates, as well as eviction and foreclosure moratoriums, have put many associations in a difficult position. They want to show compassion to owners suffering through no fault of their own, but they rely on assessments to maintain and repair common property and keep owners safe.
Of course, collections can prove challenging even when delinquencies aren’t skyrocketing. That’s because owners in default tend to fall into one of three categories.
“I call them the needy, the greedy, and the seedy,” says Mitch Drimmer, president of business development at Axela Technologies, a Florida-based collections firm specializing in delinquent association fees. “The needy have debts but just don’t have the money.
“The greedy have the money but repeatedly hold off until the very last minute; they’re the ones who always ask for the fees to be waived.
“The seedy are those who bought their units with no intention of ever paying. They’ll play every game possible, from quitclaiming the deed from one person to another to filing bankruptcy or lawsuits for debt collection violations — everything they can to prevent the association from collecting.”
This Special Report provides expert advice on how you can increase the odds of collecting from every kind of debtor you and our clients may encounter. It includes insights on how to improve collections during both regular times and those periods when developments such as COVID-19 threaten the finances of wide swaths of owners.Download now »
Regardless of where you’re located, or how long you’ve been in the business, the same types of problems tend to crop up over and over, don’t they?
It’s not the big emergencies that make you pull your hair out, but the everyday hassles that start to grate when you get lots of people living together in the same community. Things like pet issues. And smoking. And the other chronic niggling nuisances that, over time, become a real pain in the neck.
Which is why we’ve pulled together this Special Report specifically about managing these sorts of challenges.Download now »
Strong relationships with your community association clients are always important — but not always easy — to maintain. When times are tough economically, you can’t afford to lose clients, but even when finances are robust, an unhappy client or former client can cause trouble for your future prospects.
That doesn’t mean, though, that managers have to settle for rocky treatment from clients that are overly demanding, unappreciative, or even abusive. Concessions can be made for exceptionally trying times, of course, but wouldn’t you rather develop solid, productive, and mutually satisfying relationships with your clients?
This exclusive Special Report aims to help you do just that. It provides valuable guidance on how to identify and land the right clients, establish and enforce boundaries, manage poor conduct, and leverage happy clients.
Start creating the business and the client relationships you want and deserve today.Download now »
More than 60 percent of American states have legalized some form of marijuana since 1996, and the legislatures in many of the holdouts have recently considered doing so. Those states with legal marijuana have seen it rapidly commoditized, with new businesses such as delivery services cropping up and becoming a part of homeowners’ daily lives.
Not surprisingly, the proliferation of pot has begun to have repercussions for community association managers, both as property managers and employers. Whether you live in a state where marijuana is fully legal, partially legal, or on the cusp of some degree of legalization, you need to know what that means on the ground.
This Special Report takes an in-depth look at some of the most pressing marijuana-related issues for community association managers and their clients and provides expert guidance on how to mitigate the associated risks.Download now »