Collections/Foreclosures
Collections: We Make a Hard Job Easier
Timely collection of assessments is critical to the successful operation of your association. Owners who aren’t paying their share create ill-will and resentment among the other homeowners, deprive the association of the financial resources needed to keep up with routine maintenance and repairs, and prevent the establishment of a reserve account or funds for improvements or replacements to the property.
“But They’re My Neighbors...”
We know that collecting delinquent assessments is a difficult job. After all, these delinquent owners are also your neighbors. You don’t want to confront people at the mailbox or at the pool to pay their assessments. But managers and board members can’t ignore the problem.
With our long experience in association law, we understand the mind-set of delinquent homeowners. We know that when it’s time to pay the bills, assessments are often low on the priority list. Our goal is to move assessments to the top of the priority list and to impress upon owners that paying assessments is critical to keeping their home.
Getting the Job Done
When it comes to collecting assessments, boards want quick, effective results and want to be kept informed. In short, you want results you can measure. That’s where HindmanSanchez’s “Strength in Association®” works for you:
Making it Affordable to the Association
Many associations are hesitant to aggressively pursue delinquent assessments because of the costs in legal fees. But we know that by law homeowners who fall behind in paying assessments must also pay all legal fees and costs necessary for collection. While the association bears the initial expense, we ultimately recover that expense from the homeowner.
We’ve structured our fees with your budget in mind. Most of our collection work is done on a flat fee basis so that you know exactly which services you’re purchasing and how much you’ll pay so there are no surprises down the road. If a collection matter goes to trial, we can work at an hourly rate, or you can request a quote for a fixed fee.
Keeping You Informed
As a board member or manager, you want and need to be kept informed of each collection matter our office is handling. We provide–free of charge–a monthly written status report explaining to you how the accounts are progressing and what the next steps are.
Of course you are also welcome to call us anytime to receive a verbal update as to the status of your association’s collections matters, again, free of charge. When you retain HindmanSanchez to address your collections matters, we give you specific contact names and phone numbers so that you always know who to call with questions or concerns.
When you get “Strength in Association®” from HindmanSanchez, you get a full-time partner to help with your toughest collections problems.
HOALiensFor Sale
Timely collection of assessments is critical to the successful operation of your association. Owners who aren’t paying their share create ill-will and resentment among the other homeowners, deprive the association of the financial resources needed to keep up with routine maintenance and repairs, and prevent the establishment of a reserve account or funds for improvements or replacements to the property.
“But They’re My Neighbors...”
We know that collecting delinquent assessments is a difficult job. After all, these delinquent owners are also your neighbors. You don’t want to confront people at the mailbox or at the pool to pay their assessments. But managers and board members can’t ignore the problem.
With our long experience in association law, we understand the mind-set of delinquent homeowners. We know that when it’s time to pay the bills, assessments are often low on the priority list. Our goal is to move assessments to the top of the priority list and to impress upon owners that paying assessments is critical to keeping their home.
Getting the Job Done
When it comes to collecting assessments, boards want quick, effective results and want to be kept informed. In short, you want results you can measure. That’s where HindmanSanchez’s “Strength in Association®” works for you:
- Within 48 hours of receiving a new matter, we send a demand letter to the delinquent owner to begin the process of collecting the delinquent assessments.
- We have developed successful alternatives when traditional collection methods fail, including the use of foreclosures and receiverships. By taking a proactive, aggressive approach, your association can quickly recover the assessments you are owed.
- We can assist your association with preventive measures such as establishing a written "collection policy," which clarifies the association’s policies on collections and outlines the penalties and steps taken to recover delinquent assessments. Our experience has shown that a written policy reduces the number of delinquent homeowners.
- Most importantly, our track record speaks for itself. In the past two years, we’ve collected more than $8 million in delinquent assessments for the associations we represent. No other firm can boast such success in the recovery of delinquent assessments.
Making it Affordable to the Association
Many associations are hesitant to aggressively pursue delinquent assessments because of the costs in legal fees. But we know that by law homeowners who fall behind in paying assessments must also pay all legal fees and costs necessary for collection. While the association bears the initial expense, we ultimately recover that expense from the homeowner.
We’ve structured our fees with your budget in mind. Most of our collection work is done on a flat fee basis so that you know exactly which services you’re purchasing and how much you’ll pay so there are no surprises down the road. If a collection matter goes to trial, we can work at an hourly rate, or you can request a quote for a fixed fee.
Keeping You Informed
As a board member or manager, you want and need to be kept informed of each collection matter our office is handling. We provide–free of charge–a monthly written status report explaining to you how the accounts are progressing and what the next steps are.
Of course you are also welcome to call us anytime to receive a verbal update as to the status of your association’s collections matters, again, free of charge. When you retain HindmanSanchez to address your collections matters, we give you specific contact names and phone numbers so that you always know who to call with questions or concerns.
When you get “Strength in Association®” from HindmanSanchez, you get a full-time partner to help with your toughest collections problems.
HOALiensFor Sale
Colorado currently holds the dubious honor of leading the nation in lender (or "public trustee") foreclosures. HOALiensFor Sale is a service we offer which will benefit your association and its bottom line.
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