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093 | Strategies for Managing Delinquent Homeowners in Your HOA
Manage episode 467072830 series 3470637
Delinquent homeowners can sink your HOA’s budget. Learn how to recover dues, enforce policies, and protect your community’s financial health.
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
Delinquent homeowners in your HOA can cause serious financial strain on your community. Mitch Drimmer from Axela Technologies shares proven strategies to recover unpaid dues, enforce policies, and protect your HOA’s budget—without jumping straight to foreclosure. Learn how to use consistent communication, amenity restrictions, bank notifications, and late fees to encourage payments. Plus, discover why budgeting for doubtful debt is essential to maintaining financial health. Don't let unpaid assessments jeopardize your community—take control today!
Mitch Drimmer’s Company: http://axela-tech.com/
Chapters From Today's Episode:
00:00 Don’t Play Around with Budgets for Your HOA
01:30 The Rising Costs & Financial Pressure on HOAs
03:15 The Biggest Challenges in Collecting Payments
05:00 Why Foreclosure Should Be the Last Resort
07:20 How to Ensure Accurate Contact Information
09:45 Importance of Early & Frequent Communication
12:30 Late Fees & Interest: Enforcing HOA Payment Rules
15:10 Restricting Amenities for Delinquent Owners
18:00 The Power of Bank Demand Letters
20:48 Ad Break - Community Financials
23:30 Why Boards Must Budget for Delinquencies
27:00 Common Mistakes HOAs Make With Collections
30:15 Raising Assessments: Tough but Necessary
34:00 When Selling is the Best Option for Owners
37:30 Final Thoughts & Best Practices for HOAs
Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected]
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Boardmember Merch Store!
Connect with Hosts on LinkedIn
Julie Adamen
Kevin Davis, CIRMS
Robert Nordlund, PE
Support Our Sponsors
Association Insights & Marketplace
Association Reserves
Community Financials
Kevin Davis Insurance Services
Stokelight Video & Marketing
The Inspectors of Election
Chapters
1. Don’t Play Around with Budgets for Your HOA (00:00:00)
2. The Rising Costs & Financial Pressure on HOAs (00:01:30)
3. The Biggest Challenges in Collecting Payments (00:03:15)
4. Why Foreclosure Should Be the Last Resort (00:05:00)
5. How to Ensure Accurate Contact Information (00:07:20)
6. Importance of Early & Frequent Communication (00:09:45)
7. Late Fees & Interest: Enforcing HOA Payment Rules (00:12:30)
8. Restricting Amenities for Delinquent Owners (00:15:10)
9. The Power of Bank Demand Letters (00:18:00)
10. Ad Break - Community Financials (00:20:48)
11. Why Boards Must Budget for Delinquencies (00:23:30)
12. Common Mistakes HOAs Make With Collections (00:27:00)
13. Raising Assessments: Tough but Necessary (00:30:15)
14. When Selling is the Best Option for Owners (00:34:00)
15. Final Thoughts & Best Practices for HOAs (00:37:30)
131 episodes
Manage episode 467072830 series 3470637
Delinquent homeowners can sink your HOA’s budget. Learn how to recover dues, enforce policies, and protect your community’s financial health.
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
Delinquent homeowners in your HOA can cause serious financial strain on your community. Mitch Drimmer from Axela Technologies shares proven strategies to recover unpaid dues, enforce policies, and protect your HOA’s budget—without jumping straight to foreclosure. Learn how to use consistent communication, amenity restrictions, bank notifications, and late fees to encourage payments. Plus, discover why budgeting for doubtful debt is essential to maintaining financial health. Don't let unpaid assessments jeopardize your community—take control today!
Mitch Drimmer’s Company: http://axela-tech.com/
Chapters From Today's Episode:
00:00 Don’t Play Around with Budgets for Your HOA
01:30 The Rising Costs & Financial Pressure on HOAs
03:15 The Biggest Challenges in Collecting Payments
05:00 Why Foreclosure Should Be the Last Resort
07:20 How to Ensure Accurate Contact Information
09:45 Importance of Early & Frequent Communication
12:30 Late Fees & Interest: Enforcing HOA Payment Rules
15:10 Restricting Amenities for Delinquent Owners
18:00 The Power of Bank Demand Letters
20:48 Ad Break - Community Financials
23:30 Why Boards Must Budget for Delinquencies
27:00 Common Mistakes HOAs Make With Collections
30:15 Raising Assessments: Tough but Necessary
34:00 When Selling is the Best Option for Owners
37:30 Final Thoughts & Best Practices for HOAs
Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected]
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Boardmember Merch Store!
Connect with Hosts on LinkedIn
Julie Adamen
Kevin Davis, CIRMS
Robert Nordlund, PE
Support Our Sponsors
Association Insights & Marketplace
Association Reserves
Community Financials
Kevin Davis Insurance Services
Stokelight Video & Marketing
The Inspectors of Election
Chapters
1. Don’t Play Around with Budgets for Your HOA (00:00:00)
2. The Rising Costs & Financial Pressure on HOAs (00:01:30)
3. The Biggest Challenges in Collecting Payments (00:03:15)
4. Why Foreclosure Should Be the Last Resort (00:05:00)
5. How to Ensure Accurate Contact Information (00:07:20)
6. Importance of Early & Frequent Communication (00:09:45)
7. Late Fees & Interest: Enforcing HOA Payment Rules (00:12:30)
8. Restricting Amenities for Delinquent Owners (00:15:10)
9. The Power of Bank Demand Letters (00:18:00)
10. Ad Break - Community Financials (00:20:48)
11. Why Boards Must Budget for Delinquencies (00:23:30)
12. Common Mistakes HOAs Make With Collections (00:27:00)
13. Raising Assessments: Tough but Necessary (00:30:15)
14. When Selling is the Best Option for Owners (00:34:00)
15. Final Thoughts & Best Practices for HOAs (00:37:30)
131 episodes
All episodes
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