Community associations are already beginning to feel the effects of the recession with homeowners in financial crisis opting not to pay association fees?
With everyone sheltering in place, the Coronavirus pandemic has already pushed the country into a recession. Economists don’t know how long it will take to recover, but we know it will take a lot of hard work to get back to ‘business as usual’.
Community associations are already beginning to feel the effects of the recession with homeowners in financial crisis opting not to pay association fees, and this trend looks like it will get worse before it gets better. And with foreclosures on temporary deferment during the shutdown, the typical methods communities use to collect are unavailable.
But there is hope for communities to navigate this new recession economy. Community associations are one of the few industries that can successfully weather economic depression. You just need to know what tools to leverage to keep the budget healthy.
The new white paper, After the Pandemic, explores the options that are available to community associations and reveals what actions you can take to not just protect your community, but to thrive in the new recession economy we are facing.
Download the White paper, “After the Pandemic: How Community Associations Can Recover in the New Economy” today!
Axela’s platform can easily review your delinquency issues and provide a customized collections plan.
We recover funds utilizing information acquired from your association, third-party data aggregators, and credit reporting agencies.
Our highly trained and accredited in-house collectors will work respectfully with your association members to resolve delinquencies as quickly as possible.
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Tags: Condo and HOA Accounting, Condo and HOA Collections
