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This system will be required to manage, track and document the process necessary for collecting and billing current and overdue assessments, fees and payments by property owners within the association. The process can be customized to include, but not be limited to, an automated means for performing any of the following tasks:
Current Fees and Payments –
- Collection date of all fees can be assigned (monthly, annually, etc.) and fees may be adjusted by the administrator of the system (personnel as so assigned by your Administrator).
- Fees can be posted as “past due” on assigned dates, therefore past due accounts can incur a penalty, the amount of which can be adjusted by the system Admin.
- Accounts whose maintenance assessments and lot related charges remain unpaid, can be assessed a percentage rate penalty, the amount of which can be adjusted by the system Admin.
- A second notice can be generated on specific dates to property owners with unresolved billing issues. The system will correctly identify delinquent owners, merge contact information with standardized letters and export the information to the printer.
- A final notice can be generated in a similar manner.
- A lien can be assessed and filed to the appropriate account, the amount of which can also be adjusted by the Admin.
- A certified letter can be prepared and attached to the lien record.
- Delinquent accounts can be rolled over on the first day of January of the following year.
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Collection of Overdue Fees and Payments –The application can be customized to:
- Access a set of letters and documents based on account aging history.
- Track and document all collection efforts with regard to any and all independent property owners.
- Group overdue accounts and select appropriate letters from a menu of standardized or customizable documents, for the purpose of disseminating such documents, as needed by the authorized system user.
- Identify property owners under a specific, standardized payment plan and initiate or continue billing in accordance with that standardized payment plan.
- Produce reports that illustrate property owners who are not complying with the standardized billing plan.
- Provide for a follow-up reporting procedure for property owners in non-compliance.
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