At the start of 2012, a condominium association in Waukesha, Wisconsin faced serious collection issues as a result of mismanaged files and accounts by its former property manager and attorney. More than 35 individual unit owners (40% of the owners) were delinquent and the association was owed more than $50,000 in delinquent assessments. The association turned to The Husch Blackwell Condominium & HOA Law Team to develop an aggressive collection policy. Since 2012, HB has reduced the delinquent rate and has collected more than $219,000 in assessments, interest and legal fees for the association.
Lesson: Having a collection policy that turns over all matters for collection at 90 days will improve the financial condition of your association.
A collection attorney who specializes in condominium law can best pursue all the remedies allowed the association under the governing documents and state law. The HB Condo & HOA Law Team has a proven collection strategy. Since 2012, our team has collected over $9 million in dollars and property.