Over the last few months we’ve been busy enhancing our collection procedures. As part of this review and the resulting improved process we have made changes to our prior collection policy sample. The new collection policy changes language that is more generic if you are working with a collection agency or collection attorney. Additionally it adds fees and the process that Community Financials is set up for.
If your homeowners association (HOA) or condominium community does not currently have a collection policy this is a good document to use to mimic and refine.
We are sharing this document in word format so you can download it and change it to fit your community’s governing documents.
Here is our updated example collection policy for HOAs and Condo communities (click on the image below to download):