View Full Version : HOA Contract
05-03-2010, 09:55 PM
I'm fairly new to the business but just picked up my first commerical property. It's maintaining the common areas of a Home Community. I've just started about 6 weeks ago and have sent them a bill. They're already 2 weeks plus a few days and haven't recieved payment yet. I've since stopped service and will wait until I recieve payment? My question is this common for HOA'S? Do most fall behind on payment? :nono:
05-03-2010, 11:44 PM
What payment arrangements were made prior to the contract? We made another bid to a new HOA neighborhood last month and inside our estimate packet, we made it clear that we bill out by XX day of each month and payment is expected by XX day afterward. Any bills past that day that go into the following month is subject to a 5% fee.
The HOA has probably held their meeting for the month to discuss the quality and assess the services they are paying for. Any and all problems are sorted out and subject for discussion before a payment is made. Otherwise, the person in charge is late on their part of paying you.............it is no different than being the last person on residential clients list to pay. It is often that some of us LCO's have to chase our money down.
The pity me or pity them scenario does get old.......................!!!!!!!
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