Management Doesn’t Know How To Collect Arrears

Unfortunately, not all shareholders/unit owners are paying their maintenance/common charges in a timely manner. Management has to repeatedly request payment from residents, but too often, their voice goes unheard. Management’s requests are being put on the back burner, or ignored all together, because they do not know how to effectively communicate with residents or come up with a realistic solution. Management just does not have an established plan, or a simple set of steps, for dealing with the collection of arrears.

If the owed maintenance/common charges continue to go unpaid, the community as a whole will suffer greatly. It is impossible for a management company to adhere to a budget if the monies are not there. The community still needs heat/hot water, gas/electric, maintenance repairs and staff salaries must get paid.

Common charges and maintenance fees are essential to the management of a property, which is why Precision Management has come up with a 5 step system for collecting arrears.