When one purchases a home within a homeowner’s association, the sense of community should already be upheld and welcoming for any new home owner. Diversified Association Management not only helps maintain the standards for each HOA, they create the community within their everyday lives as well. Being a community is sustained by each homeowner following the rules and regulations to continue creating the vision of the HOA. These policies range anywhere from convenient enforcement, architectural control, and most importantly the collection policy of assessments.
Once Diversified Association Management is hired on to an association, it becomes our job to uphold these policies. The collection policy is of most important to make sure each homeowner is aware of their assessments being delinquent if applicable. Assessments are put in place for the expenses the association incurs to make sure the community’s appearance is up to standards, maintain recreational amenities and in general, to create a beautiful hometown for their homeowners.
Not all collection policies are the same, but most assessments are due on the 1st of the month. Some Associations give a grace period for each homeowner to pay their assessments. If payments are not received after the grace period given, a late fee may be applied as well as interest. A delinquent homeowner will then be notified of their missed payment. It is Diversified Association Management’s responsibility to communicate with the homeowner of past due balances. The law then puts the ball in the homeowner’s court to communicate with the HOA/management company in terms of paying their assessment.
Communication is key within a community; Diversified Association Management keeps that door open.