Every day Owners' Associations are faced with the unenviable task of collecting assessments from owners and members who are unhappy about paying, unwilling to pay, or unable to pay. These three varying forms of disenchantment each calls for a different form of collection practice.
In this course, we will look at legal issues that may impact the association's ability to collect assessments from owners in one, or all, of these categories. The student will want to be aware of these issues as they prepare to assist boards, associations, and individual investor owners in their collection of assessments.
Owners' Associations are required to establish a policy which details the collection practices that the association will follow and this information must be shared with all property owners and members of the association.
Rules regarding delinquent accounts are set in state law and the association is responsible for clearly identifying how the association will comply with these requirements in their policies. Sometimes, however, issues arise for owners that fall outside the traditional category of 'late payments.' In this course, we will review a couple of the more challenging areas of law and policy regarding these issues.
The course will then discuss association reserves and students are encouraged to view these accounts in light of uncommon issues in order to better protect the overall financial health of any individual association.
This is a comprehensive course. At the conclusion of this course, students will be able to;
Course Outline & Schedule
Welcome - Introduction
Learning Objectives, Course Attributes
Final Multiple Choice Exam
The course contains numerous exercises, quizzes, and examinations. Various exercise formats are used allowing students to interact with the course materials. Students will be expected to complete each required element of the course prior to taking the final exam. The course progress will be available to the student inside the online course which is also where students may post questions for the instructors using the Q&As. The course is completed with a multiple choice final exam and students will have the opportunity to provide input on tier course experience at the conclusion of the course.