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Find Blog Articles for Florida’s Condo, HOA and the Management Industry. 

Introducing The Auto-Submit Platform for Servicing Delinquent Accounts! by Axela

Introducing The Auto-Submit Platform for Servicing Delinquent Accounts! by Axela

  • Posted: Apr 16, 2024
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We’re thrilled to announce a groundbreaking advancement in community association management: the launch of Auto-Submit, the industry’s first AI platform for identifying and servicing delinquent accounts, by Axela Technologies.
 
In an industry where timely recovery of past-due assessments is paramount to financial stability, Axela’s Auto-Submit is a game-changer. This cutting-edge AI engine is designed to streamline collections processes, resulting in faster resolutions and cost-effective outcomes.

 

Here’s what you need to know about Auto-Submit:
 
Efficiency at Scale: With deep integrations with leading accounting systems, Auto-Submit allows you to automate uniform collections policies and unit submissions. This ensures consistency across your portfolio and drastically improves aging trends, all while maintaining compliance with federal, state, and local laws.

Set It and Forget It: Configuring Auto-Submit is a breeze. Set your preferences, and the system executes the process from start to finish. Say goodbye to manual interventions and hello to autopilot collections.

Enhanced Responsiveness: Auto-submit doesn’t stop at collections. Our latest release also includes features for email responsiveness and call archiving. You can ensure prompt and accurate communication with homeowners with near-immediate email responses and detailed call transcriptions.

Continuous Innovation: We’re committed to advancing our AI platform to serve your needs better. As we develop new features, you can rest assured that Axela remains at the forefront of community association management technology.

We invite you to experience the future of collections with Auto-Submit. Schedule a demo today to see how Axela can transform your collections process and drive financial stability for your community.

Upcoming Event!

ONLINE AUTO-SUBMIT WEBINAR

April 18, 2024 @ 3PM EST.

Join us for an exclusive webinar unveiling Axela Technologies’ groundbreaking AI platform, Auto-Submit, revolutionizing delinquent account servicing in the CAM industry. Learn how our innovative solution ensures faster resolutions, compliance, and cost-effectiveness while putting your collections on autopilot. Don’t miss this opportunity to discover the future of collections!

Sign up Today!

Alexa Technologies is the top Collections Company SFPMA stands behind for every Condo, HOA in the State of Florida.  Every Property Management Company and their Team members should learn how Alexa can aid them with the properties they manage.  View Axela Tech’s Membership page on our members directory.

 

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Axela Technologies – Your Trusted HOA Collections Solution Platform 🌟

Axela Technologies – Your Trusted HOA Collections Solution Platform 🌟

Homeowners Association (HOA) collections can be a source of stress and anxiety for those who fall behind on their dues. Nobody wants to risk losing their cherished homes due to unforeseen financial challenges. But here’s some good news – there’s a better way!

🌟 Enter Axela Technologies – Your Trusted HOA Collections Solution Platform 🌟

We understand that life sometimes throws curveballs, and financial struggles can happen to anyone. That’s why we take a compassionate and understanding approach to HOA collections, unlike some attorneys who may resort to foreclosure threats.

📖 In our latest article, we dive into the stark differences between attorneys who may pursue foreclosure and Axela Technologies, your partner in HOA collections.

💡 So, what sets Axela apart?

✅ Compassion: We genuinely care about your situation and work to find solutions that fit owner’s needs.
✅ Understanding: We know that financial difficulties can be temporary, and we’re here to help owners get back on track.
✅ Communication: We believe in transparency and open dialogue to find the best resolution.
✅ Avoid Foreclosure: Our goal is to prevent foreclosure threats and help you keep people in their homes!

Learn how to ease the burden and provide peace of mind during challenging times.

We Know Community Associations

Specialized Collection Solutions for Condos & HOAs

Take Control of Your Accounts Receivables

If your community association is suffering from high delinquency rates and long recovery times for delinquent fees, it’s time to take a proactive approach to community association collections.
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The Consequences of Poor Collection Practices

When members of your HOA or Condo association pay late or have decided not to pay their fair share, it causes problems for everyone. Legal fees and dissent between the board and community members are just the start. A long-term pattern of delinquencies can affect your community’s ability to become approved for government loans for new owners, or to get loans for capital improvements.

There is an alternative to a legal process of lien and foreclosure. A  collections process is the best alternative to foreclosure.
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A Better Way to Manage Delinquencies

Axela-Technologies is dedicated to helping create streamlined accounts receivable and collections tools for management companies, condo and homeowners associations and others in the real estate industry. We work with you to get a jump on recovering delinquent funds quickly, painlessly and ethically.

 

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Elevate Your HOA and Condo Collections with Axela!

Elevate Your HOA and Condo Collections with Axela!

  • Posted: Feb 02, 2024
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Discover why Axela stands out as the ultimate choice for managing your community’s finances and collections.

Axela is here to revolutionize your HOA experience from streamlined processes to advanced features.

 

HOW THE FUTURE COLLECTS

Axela Technologies is dedicated to helping create streamlined accounts receivable and collections tools for management companies, condo and homeowners associations and others in the real estate industry.

Our proven collection tools help community associations realize higher returns and lower delinquency ratings.

Axela is not a debt collector. But, our team understands collections and has expertise in the real estate accounts receivable space. Axela licenses its software to specially-selected third-party collection agencies who emphasize a culture of debtor choice and empowerment and compliance with applicable law, including the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA).

Our focus is on building tools that assist community association capital recovery. Our team of developers is constantly working to build new and improved technologies to ease and speed up the collections process.

Integrates with your Accounting Platform

In order for Condo and HOA collections to be successful, action must be taken quickly, and information must be accurate. Our tools integrate with various accounting software to gather the data required to begin a collections file.

Accurate, Up to the Minute Records

Using Axela’s software, you can effortlessly gather thousands of data points from our integration partners to have a complete picture of what position a delinquent unit and its owner are in.

The tools available in Axela’s toolbox range from calculating the value of a property, to determining if it’s in an equity position, to assistance in locating a unit owner and determining their financial position.

Respectful Treatment of Homeowners

We empower the engagement of your HOA members in a respectful manner to resolve your cash flow issues. When owners are not paying their assessments you need a HOA collection solution NOT a lawyer.

Committed to Condo & HOA Collections Technology and Advancement

An HOA collection agency must use an FDCPA-compliant process, first and foremost. But our exclusive focus on Community Associations and Management Companies makes us go deeper than the basic requirements when designing collections tools.

Our team has years of experience in the industry, from directly managing condos and HOAs, to serving on boards, to working with other industry vendors.

We work constantly to cultivate relationships in the industry so you can benefit from technologies built to suit your specific needs.

 Axela’s platform can easily review your delinquency issues and provide a customized collections plan.

We help recover funds utilizing information acquired from your association, third-party data aggregators, and credit reporting agencies.

We will refer you to highly trained and accredited collectors who work respectfully with your association members to resolve delinquencies as quickly as possible.

Call Us
 305-392-0389

Technical Support
 support@axela-tech.com

Sales & General Inquiries
 admin@axela-tech.com

 

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The Corporate Transparency Act and Your HOA/Condo…OY VEY.

The Corporate Transparency Act and Your HOA/Condo…OY VEY.

  • Posted: Jan 22, 2024
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By: Mitchell Drimmer, CAM

President, Axela Technologies

Starting next year, Community Associations (HOAs & Condos) in the U.S. will have to follow new rules. These rules are part of something called the Corporate Transparency Act (CTA). The CTA requires most Community Associations (HOAs & Condos) to share information about the people who own or control the association. This is called a beneficial ownership report. While some non-profit groups are exempt from this rule, most Community Associations (HOAs & Condos) are not.

Community Associations (HOAs & Condos) are groups that take care of neighborhoods. There is a lot of money flowing in and out of these associations and many boards of directors and even their management companies are not quite ready for this process. There are a lot of Community Associations (HOAs & Condos) in the U.S., more than 355,000 of them. They serve around 74 million people which is about 24% of the population of the United States.  Community Associations (HOAs & Condos) are not exempt as they may be the perfect place to engage in money laundering for the purposes of fraud (unjust enrichment), and terrorism. The CTA was specifically established to make money laundering more difficult.

The new rule says that Community Associations (HOAs & Condos) need to provide specific information about the people who own or control the association. This includes their names, addresses, and other details. This information will be collected by a government agency called FinCEN. The goal is to make sure this information is not available to the public, but it can be used by law enforcement. There remain some questions regarding owner access to association records but as we all know Federal law overrides State laws and an association’s by-laws.

Most Community Associations (HOAs & Condos) need to report. They are considered “reporting companies” under the CTA. This means they must file the beneficial ownership report. There are some exemptions, but most Community Associations (HOAs & Condos) won’t qualify for these exemptions. This will add costs to the management of community associations and naturally will be passed through to the owners making life more expensive for community associations. Adding this to structural inspections, increased insurance premiums, and rising costs, this is not good news.

Community Associations (HOAs & Condos) need to figure out who their beneficial owners are. These are people who have control over important decisions in the HOA. It could be board members or others who influence how the HOA operates. Community Associations (HOAs & Condos) need to collect specific information about these people and report it to FinCEN. They also need to update this information if anything changes. The Board of Directors will now be scrutinized more than ever before, making it even more difficult to enjoin volunteers to run for board positions.

The new rule starts on January 1, 2024.

Existing Community Associations (HOAs & Condos) have until January 1, 2025, to file their first report.

Community Associations (HOAs & Condos) formed after this date must file within 30 days of their formation.

Community Associations (HOAs & Condos) need to understand these new rules and make sure they follow them. It’s important to collect the right information and report it on time. If they need help, they can talk to community association specialists who have studied this matter. These rules are meant to increase transparency and prevent fraud, so following them is essential.

HOW TO COLLECT WHAT’S DUE? By Eric Glazer, Esq.

HOW TO COLLECT WHAT’S DUE? By Eric Glazer, Esq.

  • Posted: Oct 23, 2023
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We are already starting to see an uptick in the amount of owners falling behind on paying their assessments to their association.  It is wise for an association to know how the collections process works in for the board to put in place a policy that works best for the association.

In both condos, Co-ops, and HOAs, the procedure is the same.

  1. To start, the association must first deliver a thirty day written notice of late assessments to the unit owner which specifies the amount owed the association and provides the unit owner an opportunity to pay the amount owed without the assessment of attorney fees.
  2. If the owner fails to bring their account current, the association must then provide the delinquent unit owner with another letter which is a 45 day notice of its intent to file a lien and its intent to foreclose its lien. The association can demand attorney’s fees, interest and late fees in this letter.
  3. If the owner fails to bring their account current, the attorney can record a lien and threaten to foreclose on the lien if their account is not brought current within 45 days.  The association can demand attorney’s fees, interest and late fees in this letter.
  4. If after 45 days the owner still fails to bring their account current, the association may file a foreclosure action in court.

Keep in mind that because the unit owner must receive a 30 day letter, a 45 day letter and another 45 day letter, it takes a long time to bring a delinquent owner into court.  That is why associations may need to rethink their collection process and start it a little earlier.  If not, by the time it gets to court, the owner may by 9 or 10 months delinquent.

Especially in condominium buildings, things are about to get tough.  There are now mandatory inspections, mandatory repairs, mandatory fire sprinkler or ELSS installation, a tremendous rise in insurance and the inability to waive reserves.  Stay on top of your collections.

About HOA & Condo Blog

Read other industry Legal Articles

Eric Glazer

Eric Glazer graduated from the University of Miami School of Law in 1992 after receiving a B.A. from NYU. He has practiced community association law for three decades and is the owner of Glazer and Sachs, P.A. a five attorney law firm with offices in Fort Lauderdale and Orlando.

Eric is Board Certified by The Florida Bar in Condominium and Planned Development Law.

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Playing The HOA – A Continuing Study in Audacity (Part II) by Axela Tech.

Playing The HOA – A Continuing Study in Audacity (Part II) by Axela Tech.

  • Posted: Oct 22, 2023
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🏡✨ Calling all condo residents and property managers! 📣

Have you ever wondered how the fate of an entire community can change in the blink of an eye?

Chinese investors purchased properties in a condominium, sparking hope and excitement. However, the developer defaulted on agreements, pushing the property into financial turmoil. 📉💼

What made matters even more complex was that at least 75% of the units were owned by foreign investors residing in China, where they had no idea they owed any maintenance fees!

The delinquency rate became a looming problem for the entire community.

Our latest blog discusses how Axela stepped in to help a struggling condo get back on track with its delinquencies.

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Is Your HOA Ready to File a Lien? Remember These 3 Do’s and Don’ts by Mitch Drimmer

Is Your HOA Ready to File a Lien? Remember These 3 Do’s and Don’ts by Mitch Drimmer

  • Posted: Oct 04, 2023
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Is Your HOA Ready to File a Lien? Remember These 3 Do’s and Don’ts

by Mitch Drimmer

Homeowner delinquencies create havoc and stress in a community association. Unfortunately, HOAs and condo associations don’t have a lot they can do about them. When a homeowner stops paying their monthly assessments, the association only has a few options to recoup that lost money.

  • You can issue warning letters
  • You can assess late fees and interest (within the limits of the governing documents)
  • You can limit amenity access if your governing docs allow it
  • You may be able to initiate credit reporting
  • You could take them to small claims court
  • You can file a lien to lead to foreclosure on their home

Of these options, the only one that has any real ‘teeth’ in the eyes of the law is lien and foreclosure.

Two sides of the same coin, a lien and a foreclosure are an HOA or condo association’s most aggressive form of collections actions. The lien is the threat of force, a legal response that tells the delinquent owner that this is well and truly their last chance to make good on what they owe to the community. The foreclosure is the bite to that bark, and can be costly and time consuming.

While a foreclosure isn’t something we recommend, filing a lien can often be the very thing you need to yield results. When a homeowner becomes seriously delinquent and the other methods have failed to produce results, you need to be ready to rip the band-aid off and make it happen.

3 Do’s and Don’ts When Filing a Lien

Is your HOA ready to file a lien? DON’T attempt to collect owed payments on your own. 

The FDCPA has a laundry list of what have been deemed predatory collections practices, and also specify who can and cannot make collection attempts. Engaging in any kind of communications that could be deemed harassment is only going to hurt your community in the long run

Is your HOA ready to file a lien? DO thoroughly document each of the notices and demand letters you send to the delinquent owner. 

Keeping track of the specific requests and demands you have made, as well as when you made them, will help keep your association free and clear of any claims of harassment or illegal collections allegations.

Is your HOA ready to file a lien? DON’T file a lien before sending warning notices to the homeowner. 

Those notices aren’t just common courtesies, they’re required interactions your association must have with a delinquent homeowner. They are entitled to a certain amount of time to pay back monies owed before legal action is taken against them.

Is your HOA ready to file a lien? DO check your CC&Rs AND state’s restrictions and laws to make sure you’re complying before filing a lien. 

These restrictions will set forth the ways you’re required to communicate payment demands, the fees and charges you’re allowed to include in the lien, and any time constraints you have to abide by.

Is your HOA ready to file a lien? DON’T just refer the file to your attorney.

Your primary goal should be to collect the money you are owed, not to punish delinquent homeowners. Referring a collections file to your lawyer is not a method of collection, but rather an intention to foreclose as soon as possible so you can get in a better paying homeowner. As the saying goes, a bird in the hand is worth two in the bush – working with your existing community members to set up a payment plan or find another way to settle the debt is almost always better than giving them the boot. Foreclosure does not result in money in your pocket, just an empty home on the block.

Is your HOA ready to file a lien? DO call Axela to take advantage of ethical collections practices that come with a 95% success rate or recovery.

Axela Technologies specializes in HOA collections practices that successfully recover funds for the community without the inhumane, barbaric treatment owners tend to get from the foreclosure process. Is your HOA ready to file a lien? Call us today or click here for your no-cost collections analysis

 

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OWE MONEY? YOU MAY NOT BE ALLOWED TO RUN FOR THE BOARD By Eric Glazer, Esq.

OWE MONEY? YOU MAY NOT BE ALLOWED TO RUN FOR THE BOARD By Eric Glazer, Esq.

  • Posted: Sep 24, 2023
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OWE MONEY?  YOU MAY NOT BE ALLOWED TO RUN FOR THE BOARD

By Eric Glazer, Esq.

I feel like I handled a thousand annual meetings in the last month, flying from one to the other.  When running the meetings, and depending upon whether the association is a condominium or HOA, it is important to know if the person running for the board, or even the winner of the election, is eligible to serve because they owe money to the association.

Let’s start with condominiums first, Florida Statute 718.112 (2)(d) states:

A person who has been suspended or removed by the division under this chapter, or who is delinquent in the payment of any assessment due to the association, is not eligible to be a candidate for board membership and may not be listed on the ballot.

So, in a condominium, the person’s eligibility to run and initially serve on the board is decided when the owner submits their notice to be a candidate, and that is no less than 40 days before the election.  If at that time,  the owner is delinquent in any assessment their name cannot be printed on the ballot and sent to the unit owners.  On the night of the election the association need not worry if anyone is delinquent and cannot serve because their name was already excluded from the ballot.

The law in a Florida HOA is much different.  Florida Statute 720.306(9)(b) states:

A person who is delinquent in the payment of any fee, fine, or other monetary obligation to the association on the day that he or she could last nominate himself or herself or be nominated for the board may not seek election to the board, and his or her name shall not be listed on the ballot. 

Lots of differences between the two statutes here.  In a condominium, you can only be prevented from being placed on the ballot if you owe an assessment.  In an HOA, your name can be prevented from being placed on the ballot if you owe any fee, fine or other monetary obligation to the association; a far more restrictive provision in an HOA.

In addition, remember that in most HOAs, nominations are taken from the floor on the night of the election.  That is the “day that he or she could last nominate himself or herself or be nominated for the board.”  Therefore, on the night of the election, we need to know if any of the proposed nominees owe any fee, fine or other monetary obligation.  If so, their name cannot be accepted into nomination.  They cannot run.

ONCE A DIRECTOR BECOMES 90 DAYS DELINQUENT

The Condominium Act states:

718.112: Director or officer delinquencies.—A director or officer more than 90 days delinquent in the payment of any monetary obligation due the association shall be deemed to have abandoned the office, creating a vacancy in the office to be filled according to law.

The Homeowners Association Act states:

720.306(9)(b) A person serving as a board member who becomes more than 90 days delinquent in the payment of any fee, fine, or other monetary obligation to the association shall be deemed to have abandoned his or her seat on the board, creating a vacancy on the board to be filled according to law.

 

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