Should Your HOA Hire a Collections Agency?
Nov. 7, 2008
Now more than ever, homeowners associations face the issue of
what to do when owners fall behind on fees. The idea of hiring a
collections agency sounds great. After all, why not give someone
else this unpleasant task? But is it really a good idea? We recently asked this question of Luigi Rosabianca, the
principal attorney at Rosabianca & Associates in New York City.
Attorneys often like to give answers that boil down to "it
depends," but Luigi was pretty clear about it. "It's a bad idea—a super bad idea," he said. Luigi told us that he doesn't recommend his HOA clients use collection agencies. "Any
time you're dealing with an external third party, you have no
control over that third party. But like it or not, the person
who's not paying his debt is a neighbor, and you always have to
deal with neighbors." So what are the smart ways to go about collecting? You can find
the answer to that question in our special report. It's free
to members (and trial members) until midnight on Saturday,
Nov. 8. Download the report now » After Saturday, it can be purchased on our website as a PDF
download for $59. Best regards,
Matt Humphrey
President Subscribe to our free "Tip of the Week" e-mail to get more great tips.
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