Since the great recession, a lot of people are still struggling financially, and some of them might be condo owners in your building. People who have trouble paying their condo dues end up leaning on their neighbors, which puts everyone in a difficult position. The choice is either for the financially stable owners to pick up the slack or getting rid of some services.
Condo dues go toward things like general property maintenance, landscaping, electricity in the common areas, and security services, and when condo dues aren’t paid, it can cause a cascade of trouble. When a few neighbors don’t pay their fees, others have to pay more, which can put them into financial trouble. Or the condo association might have to dip into funds reserved for a big upcoming project in order to keep the grass cut.
If your condo association is in this position, there are a few things you can do to encourage delinquent neighbors to pay up. First, be familiar with the laws in your state. Act quickly, professionally, and firmly when an owner won’t take care of his or her obligations. The options of last resort are taking the delinquent owner to court or filing a lien. Before taking any of these steps, consult an attorney, an accountant, or a collections agency. Know what you don’t know and rely on the experts to fill in your knowledge gaps.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!