Collections policies help ensure that all owners are treated equally and are contributing fairly. Simplify the process by following this general framework for a collections policy.
Much like local, state, and federal governments collect taxes to fund public services and programs, assessments are part of living in a community association. Homeowners have a responsibility to pay their assessments on time. Unfortunately, some owners refuse to pay or can’t pay assessments. What does that mean for the community? And how should board members respond?