A necessary component of running a functional condo association is the collection of delinquent maintenance assessments. While many condo associations can yield account resolution through a demand letter and/or recording a lien against the unit, some delinquent accounts may require the initiation of foreclosure, which
Even though the real estate market is gradually improving, condominium and homeowner communities are still faced with instances where a delinquent member abandons their condominium unit and stops mortgage payments, but the lender does not foreclose. While condominium associations often believe they are “stuck” in
Introduction Community associations are often faced with the challenge of collecting unpaid assessments from delinquent owners. Initial collection efforts typically involve sending demand letters, suspending recreational facility privileges (if permitted by the documents), and suspending voting privileges (if permitted by the documents). When these efforts are
