A collection policy simplifies one of the Homeowner Association Board’s most disagreeable tasks: collecting money from neighbors.

There is no law that says HOA fees must be paid by check. Even the banks are pushing to eliminate this archaic form of payment. The Board can enact an policy to require that HOA fee payments be made automatically by autodebit. Payments are made directly to the HOA’s bank account so that the inevitable delay of manual deposits is eliminated. No more “checks in the mail” excuses. There are so many advantages to this collection mechanism, it should be an absolute must for every HOA whether professionally or self-managed.

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