JC3
Posts: 290
Posts: 290
Posted:
We don't have one other than to turn over to collection agent.
Would you please share yours?
Would you please share yours?
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dues collection policies
Started by JC3 • 15 replies • 1508 views
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RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Attach is one we use when assessments are smaller.
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RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Sorry I clicked the wrong one. Obviously the previous enclosure was for enforcement of Covenants. Try this one for Delinqent Accounts R&R.
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JC3
Posts: 290
Posts: 290
Posted:
thank you.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Roger,
What I find interesting about your collection policy is that there is no mention of foreclosure. Is that not allowed in CO? Also you mention arbitration. What is to be artibrated if the member is delinquent? (I would certainly hope the assn has checked to ensure the member is, indeed, delinquent b/4 sending the notices!!) Members are required to pay assessments if they don't what kind of an agreement can you expect to enter into? You can't agree to allow them to quit paying. I just don't see room for arbitration.
What I find interesting about your collection policy is that there is no mention of foreclosure. Is that not allowed in CO? Also you mention arbitration. What is to be artibrated if the member is delinquent? (I would certainly hope the assn has checked to ensure the member is, indeed, delinquent b/4 sending the notices!!) Members are required to pay assessments if they don't what kind of an agreement can you expect to enter into? You can't agree to allow them to quit paying. I just don't see room for arbitration.
SusanW1 (Michigan)
Posts: 5,202
Posts: 5,202
Posted:
Your board needs to have one in the bylaws . . .
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
MaryA, the foreclosure may occur when it is turned over to an attorney. No attorney until going to court to garnish personal assests or forclose on property. This as the last step:
"An account delinquent over 130 days shall be provided a warning that the account will be referred to an attorney for collection if not paid within 30 days."
"An account delinquent over 130 days shall be provided a warning that the account will be referred to an attorney for collection if not paid within 30 days."
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Thx for the clarification, ROger. However, IMO, that should also be put into your R & R on delinquent assessments. Shouldn't the members know exactly what is going to happen when their account is turned over to an attorney?
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
You are correct Mary. What I posted is the R&Rs not the letter which each delinquent owner recieves monthly advising them of amount owed, due date, and what will happen if not paid. Thus 30 days before a lien is filed they are advised. And 30 days before their account is turned over to an attorney they are advised. This letter includes 1) last chance to sign a quanantee of payment with the monthly amount and payment schedule, or 2)immediately request arbitration, or 3) their account will be referred to an attorney to either garnish personal assets or forclose on their property plus they will encounter significant legal expenses.
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Quote:
Posted By MaryA1 on 04/20/2008 12:36 PM
Roger,
What I find interesting about your collection policy is that there is no mention of foreclosure. Is that not allowed in CO? Also you mention arbitration. What is to be artibrated if the member is delinquent? (I would certainly hope the assn has checked to ensure the member is, indeed, delinquent b/4 sending the notices!!) Members are required to pay assessments if they don't what kind of an agreement can you expect to enter into? You can't agree to allow them to quit paying. I just don't see room for arbitration.
Roger,
What I find interesting about your collection policy is that there is no mention of foreclosure. Is that not allowed in CO? Also you mention arbitration. What is to be artibrated if the member is delinquent? (I would certainly hope the assn has checked to ensure the member is, indeed, delinquent b/4 sending the notices!!) Members are required to pay assessments if they don't what kind of an agreement can you expect to enter into? You can't agree to allow them to quit paying. I just don't see room for arbitration.
This must be offered an owner because it is required by law in Colorado. The owner has the right to present their case, whatever they think is true and correct, without the expenses involved in hiring an attorney and going to court. These are your neighbors and I think this is a good procedure even though in 25 years we have never reached that step in the procedure.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Thx, Roger. It might be a good policy for some situations but not for delinquent assessments. I still can't see what there is to arbitrate! Glad to hear you haven't had to use it.
BrianB (California)
Posts: 2,820
Posts: 2,820
Posted:
Mary, (and others): One example of "arbitration" in a dues delinquent situation may be if there is an error in the accounting books. for example, the HOA swears I owe or got behind because of a missed or late payment. I swear i never missed or was late. They won't budge. I won't budge. Luckily, I have a cancelled check for the missing payment in question, or a date stamp deposit that shows my check cleared before the deadline... If both sides are recalcitrant (my word for the day), the hearing before the lawyers get involved may be the time to settle it.
or, perhaps there was a mistake in a sales transaction, where original owner thought new owner was paying, new thought original was paying a certain month, or where the title company was supposed to pay a certain month, and no one did. SHowing the contract to the board before lawyers might be an example where this could come into play.
I don't know, i am stretching here. It's late, my day has been hectic...
or, perhaps there was a mistake in a sales transaction, where original owner thought new owner was paying, new thought original was paying a certain month, or where the title company was supposed to pay a certain month, and no one did. SHowing the contract to the board before lawyers might be an example where this could come into play.
I don't know, i am stretching here. It's late, my day has been hectic...
GlenL (Ohio)
Posts: 5,491
Posts: 5,491
Posted:
Quote:
Posted By BrianB on 04/21/2008 3:46 PM
I don't know, i am stretching here. It's late, my day has been hectic...
I don't know, i am stretching here. It's late, my day has been hectic...
Brian add in it's because you're a 60 years old and sleep deprived and you too could run for President.
Studies show that 5 out of 4 people have problems with fractions
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Brian & Glen,
It's called "senioritis" and the more "senior" we become the more often it rears its ugly head! LOL
It's called "senioritis" and the more "senior" we become the more often it rears its ugly head! LOL
DwightT (Idaho)
Posts: 664
Posts: 664
Posted:
Quote:
Posted By RogerB on 04/20/2008 9:35 AM
Sorry I clicked the wrong one. Obviously the previous enclosure was for enforcement of Covenants. Try this one for Delinqent Accounts R&R.
Sorry I clicked the wrong one. Obviously the previous enclosure was for enforcement of Covenants. Try this one for Delinqent Accounts R&R.
Roger -
I for one don't mind that you posted the wrong one. In fact, feel free to post any others that you may have. I intend to use your documents as examples for the R&R book that I've been trying to get our Board to come up with for the last couple of years. Any examples that you may have would be greatly appreciated.
Note to HOATalk admin: IMO, having an area where resources such as example R&Rs or newsletters could be shared would be a great addition to HOATalk.
MjO (utah)
Posts: 10
Posts: 10
Posted:
re: Dues Collection Policies
Our HOA has a P&P for Collection of Unpaid Assessments and other Association Charges. The policy addresses: payment is due by the 10th of the month or late fee applied; $20 fee charge for return check; attorney fees on delinquent accounts; how payments are applied on a delinquent account; Collection Process (30 days after due date = letter sent as notice a lien will be filed; 60 days after due date = delinquent account turned over to association atty and delinquent account homeowner pays any collection fees). This tighten policy has been in effect for over 1 1/2 yrs and more homeowners are less delinquent and the Association has less up front collection fees to pay. The old/previous policy gave homeowners 60 days after a letter send; 90 days after the second letter sent; then 120 before the account may or may not have been turned over to attorney for collection. The old policy provided an opportunity for an account to be over 6 months past due before any "real effect" would happen on the account, which homeowners took advantage of and the Association's cash flow was challenged.
Our HOA has a P&P for Collection of Unpaid Assessments and other Association Charges. The policy addresses: payment is due by the 10th of the month or late fee applied; $20 fee charge for return check; attorney fees on delinquent accounts; how payments are applied on a delinquent account; Collection Process (30 days after due date = letter sent as notice a lien will be filed; 60 days after due date = delinquent account turned over to association atty and delinquent account homeowner pays any collection fees). This tighten policy has been in effect for over 1 1/2 yrs and more homeowners are less delinquent and the Association has less up front collection fees to pay. The old/previous policy gave homeowners 60 days after a letter send; 90 days after the second letter sent; then 120 before the account may or may not have been turned over to attorney for collection. The old policy provided an opportunity for an account to be over 6 months past due before any "real effect" would happen on the account, which homeowners took advantage of and the Association's cash flow was challenged.
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