Because effective HOA dues collection is the only way an association can survive, we have a comprehensive department dedicated to the collection of the dues. We have a step by step process that includes letters, preparation of liens, reporting the debt to the credit bureaus and transferring the accounts to the attorneys as a last resort. We review the accounts on a monthly basis to ensure that all accounts are being handled in a timely manner.
Every association depends upon its assessments to operate the association as well as to reinvest in the community. The collection of the assessments is a priority for a stable association. Liberty uses the following policy in collecting assessments. Collections policies may vary depending on the association. This is a standard policy most of our communities and homeowners use and benefit from, on both side.
30 days past due
- Friendly letter reminding of the debt (Letter #1)
60 days past due
- Harsh letter reminding of the debt and pending filing of lien and continuation of collection efforts, including notice of intent to file lien
- Calls and or emails regarding debt may be sent
90 days past due
- Notice of lien sent certified and regular mail to homeowner for HOA dues
- Calls and or emails regarding debt may be sent
120 days past due
- Reporting of debt to collection agency and credit bureau for HOA dues
- Notice of lien
- Calls and or emails regarding debt may be sent
150 days past due
- Turn over debt to attorney to begin legal action (lawsuit)
