Kuester Management Group Share Tips to Reduce HOA Payment Delinquencies

CHARLOTTE, N.C. - Oct. 11, 2019 - PRLog -- Timely payment of HOA fees is essential for keeping the association running effectively. The board relies on these payments to cover operating expenses and build reserves. If too many members begin falling behind, it can put the HOA in financial hardships itself. In a new statement to the press, Kuester Management Group details strategies for reducing delinquencies.

"One way to promote on-time payments is to establish a clear collections policy and ensure members are educated on how the process works and what the consequences are for late payment," says Bryan Kuester, President of Kuester Management Group. "Make sure they understand why paying on time is critical to the operation of the HOA and how delinquencies impact the community."

Make paying dues easier by offering online payment options, says Kuester. This way, members can submit payment immediately and don't have to wait for a check to be processed or plan in advance to have it delivered in time. This can also improve accuracy of tracking payments.

"The HOA should also be consistent in enforcing collections policies," notes Kuester. "Every homeowner should be held to the same standards and expectations. The board should not be more lenient for one person than another. Follow a standard protocol every time."

If members are facing financial hardship, encourage them to talk to the HOA. It may be possible to set up a payment plan or other agreement in order to reduce the amount of outstanding debt and avoid legal action. However, if legal action is necessary once other options have been exhausted, the board should follow through to ensure that bad debt is collected.

Kuester Management Group can help HOAs establish fair, effective collections policies and ensure uniform enforcement to reduce delinquencies and protect the financial well-being of the association. Learn more by visiting www.kuester.com.

ABOUT:

Kuester Management Group, a division of Kuester Companies, works to protect property values and enhance the quality of life in each of its managed communities. Providing a full range of association management services, Kuester Management Group has worked to foster strong, resilient, and unified communities across North and South Carolina. The company is proud to offer on-site property managers, all zealous for building strong communities meant to stand the test of time. More information is available at www.kuester.com or @KuesterCompany.