RealManage Insight

Repayment Plan Considerations for Your Struggling Homeowners

Repayment Plan Considerations for Your Struggling Homeowners

HOA | Condo Board Responsibilities and Education

COVID-19 has almost brought the world to a stand-still. Many businesses have been crippled, and millions of people have lost their jobs. Many families are struggling to make ends meet because of the pandemic's effects. Homeowners are also finding it difficult to honor their assessment payments. Homeowners associations are obligated to collect assessment fees under HOA finance standard collection policies. However, you can also be humane and design a considerate repayment plan. Here is an overview of important considerations when designing repayment plans fair to both the homeowners and HOAs' interests amid the COVID-19 pandemic.

By Annette Byrd, CMCA®, PCAM® on Oct 8, 2020 8:54:00 AM
   
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