S.M.A.R.T. Collections

Transcription

1 S.M.A.R.T. Collections Alliance s S.M.A.R.T. Collection Services are designed to recover the outstanding assessments owed to Community Associations, while improving financial stability and cash flow. The Alliance collections process streamlines communication between the property manager, Board of Directors and the Alliance Collection Team. COLLECTION MANAGEMENT AND CONSULTING SERVICES Alliance is a licensed collection company in the State of Florida specializing solely in the collections of unpaid assessments for Community Associations. Alliance provides collections through its in-house negotiators and outbound call center. The S.M.A.R.T. Collections process never requires the Association to pay for any service. In fact, Alliance invests money, time and resources into your community from day one. The cost of letters, envelopes, stamps, certified mail, outbound call center etc. are all expenses Alliance incurs for the benefit of the Association. These monies are not advanced or deferred. They are actually invested monies by Alliance on behalf of the Association with no obligation to repay. Alliance advances all costs for any necessary legal work; i.e. liens and foreclosures. Alliance is a collection firm, not a Law Firm. However, just as Alliance does not charge the Association, any monies advanced for outside legal work, will be of no recourse to the Association at any time. Alliance also provides Collection Consulting Services. Alliance advises our clients on the entire collections process. Each Association and each unit has a unique set of circumstances; what actions the bank has taken, the occupancy of the unit and the condition of the unit. The answers to these questions, along with the Association s Collection Policy, determines the best course of action. This information provided by Alliance is paramount before the Association can make an informed decision. S.M.A.R.T. Collections uses continual communication and negotiation processes with each delinquent unit owner. Final approval for all processes are determined by the Board within the guidelines of the Association collection policy. WHAT SETS ALLIANCE APART FROM OTHER COLLECTION FIRMS 1. Billing: Law firms and other collection firms typically charge the Association whether or not money was collected from the unit/ home owner. They charge for time spent on each file, not based upon the success of what they collect. Some firms defer these fees receiving payment after completion of a file, while other firms charge during the progress of files. Either way, the Association must pay these fees regardless of the outcome. This is not the case with S.M.A.R.T. Collections. Our company is paid only by the delinquent unit owner or the bank based upon a successful collection effort. If Alliance does not collect our fees and costs on a unit, the Association will never owe Alliance any money. All monies Alliance receives are earned monies. Alliance s fees are in addition to what the Association is owed. The Association will receive 100% of what it is statutorily owed, unless the Board agrees to waive any fees. Our unique process never requires the Association to write a check to Alliance, ever! We do not bill by the hour. If we are not successful, then we do not earn a penny. If our fees are wiped out due to bank foreclosure, the Association is not obligated to pay for services rendered.

2 2. Outbound Call Center: Alliance takes a proactive approach to collections unlike most collection and law firms. Alliance offers a full service outbound call center, reaching out daily to the unit/ home owners that have money due to the Association. Alliance will perform skip tracing to find correct contact information on each unit owner. Alliance proactively makes calls, writes letters, sends s, etc. Collection efforts from our outbound call center are staffed with experienced collectors who actively pursue recovery in compliance with FDCPA rules and regulations. Our proven strategies are indicative of our successful track record. 3. Communication and Reporting: Alliance manages communication between the property manager, the Board of Directors, and our Collection Team. There is no charge to contact Alliance at any time. In fact, we encourage frequent communication between Alliance, the Board of Directors, and the property manager to ensure everyone is equally informed at all times. A critical part of good communication is transparency. Alliance creates custom reports that allow the Board and the property manager to easily review all pertinent information on each unit in collections. These reports show the dates of all actions Alliance has taken and the next scheduled steps on each unit. The reports include all monies collected (with a detailed breakdown per unit), as well as the status of all bank foreclosure activity. We send comprehensive reports to each association automatically each month. 4. Our Partnership with the Association: Associations are not required to have a long term commitment with Alliance. If the Association is not happy with our services, the agreement can be terminated with a 30-day written notice with no further obligation. Alliance does not loan or advance money to Associations. Our philosophy is to be a part of the community, not to be a lender or a vendor. Alliance does not take late fees and/or interest from what is rightfully due to the Association. All collection decisions are made on a case by case basis by the Board of Directors. ALLIANCE SERVICES INCLUDE: Managing the entire collection process for the Association. Preparing and mailing of demand letters. Contacting unit owners in regards to past due maintenance fees. Monitoring the Association s counsel with regards to preparing and recording of liens. Monitoring the Association s counsel with regard to the filing of Association foreclosures. Preparing and disseminating estoppel letters to all appropriate parties. Coordinating and assisting with all evictions. Coordinating and assisting with all short sales. Facilitating the collection of fines and citations. Facilitating payment plans, deed-in-lieu and assignment of rents. ALLIANCE REPORTING SERVICES INCLUDE: An occupancy report, which identifies whose resides in each unit. Verifying proper title holder of the unit. Verifying accurate account balances. Monitoring all bank actions and bank sales for each individual unit owner. THE ALLIANCE GUARANTEE Alliance will consult on all possible scenarios to bring a successful solution to each unit. Our Guarantee is the Association will never pay a collections bill, ever again, on any unit, with Alliance.

3 Comparison Chart Alliance is a full service, boutique collections firm specializing in Community Associations. Alliance has an in-house outbound call center reaching out to those who owe the Association money. Association collections are our sole focus. What makes us so unique is that we NEVER charge the Association for our services. Alliance is only paid upon success, not buy the hour. Our fees are paid by the delinquent unit owner or the bank, never the Association. S.M.A.R.T. Collection Services are designed to recover outstanding assessments owed to Community Associations, while improving financial stability and cash flow. Our process streamlines communication between the property manager, the Association and the Alliance Collection Team. S.M.A.R.T. Collections provides immediate results for Associations. Alliance also provides Collection Consulting Services. We advise our clients on the entire collections process. Each Association and each unit has a unique set of circumstances; what actions the bank has taken, the occupancy of the unit and the condition of the unit. The answers to these questions, along with the Association s Collection Policy will determine the best course of action. This information provided by Alliance, is paramount before the Association makes an informed decision. Cost of collections to the Association. NO CHARGE CHARGE Cost to open/transfer new files for collections. SERVICES S.M.A.R.T. COLLECTIONS COLLECTION FIRMS Meetings, conversations and correspondence with the Board of Directors. Negotiating, setting up and monitoring payment plans. NO CHARGE NO CHARGE NO CHARGE CHARGE CHARGE CHARGE Postage, envelopes, and office supplies. NO CHARGE CHARGE Foreclosure monitoring. NO CHARGE CHARGE Does the Association ever owe money to the collection firm? Monthly Reports provided: public records, owner status, bank actions, financials. NEVER In-house Outbound Call Center. YES NO Responsible party for collection costs if not recovered by owner. What Guarantee is made to the Association? YES ALLIANCE You immediately eliminate collection expenses. YES NO ASSOCIATION There are no guarantees. Fees could exceed collections.

4 Frequently Asked Questions How is Alliance different from the Association s current collections attorney? Alliance is a licensed collection company in the State of Florida solely focusing on collections of unpaid assessments owed to Community Associations. Alliance is not a Law Firm. Taking a proactive approach, unlike attorneys, Alliance reaches out daily to the unit owners through our in-house call center and negotiators. Alliance also provides Collection Consulting Services. Alliance advises its clients on the entire collections process. Each Association and each unit has a unique set of circumstances; what actions the bank has taken, the occupancy of the unit and the condition of the unit. The answers to these questions along with the Association s Collection Policy will determine the best course of action. This information provided by Alliance is paramount before the Association makes an informed decision. S.M.A.R.T. Collections uses continual communication and negotiation processes with each delinquent unit owner. All processes are determined by the Board, following the guidelines of the Association Collection Policy. What happens to your fees if the bank forecloses? If the bank forecloses, most or all of our fees can be wiped out. If this is the case, the Association is not responsible to reimburse or pay Alliance for any cost or fees. Is this service of no cost to the Association? Do you take part of what we collect? All fees are charged only to the delinquent owner or the bank. If we are not successful in collecting our fee, then we don t earn a penny. We do not take a part of what the Association is due. All monies due to the Association are paid in full. Alliance does not take your late fees and/or interest for our services. The Association will always receive 100% of whatever is statutorily owed to them. My attorney only collects the money from the unit owner or bank. What is the difference with your company? Usually this is not the case. Many attorneys say they work on contingency basis. However, if they cannot collect monies from the delinquent owner or bank, the attorney bills the Association for the cost and fees not recovered from the bank or the owner. What do you charge the owner/bank? The Association and Alliance mutually agree on fees that are charged to unit owners. As each Association is unique, Alliance customizes our services and billing structure to fit the needs of your Association. What is the difference between how Alliance (a collections firm) and a Law Firm charges our Association? Alliance does not charge the Association any money at any time. Law firms usually bill the Association whether or not money was ever collected from the unit owner. They bill for time spent on each file not based upon the success of what they actually collect. Alliance only gets paid upon success of a collection, not based upon time spent working on the file. What kind of reporting does our Association receive? Our custom reports allow the Board and property manager to easily review all pertinent information. Alliance understands reports can be very complex and hard to read. We simplify collection reports so they are easy to understand. Reports explain what actions Alliance took and will take on each delinquent unit. Just as important, we monitor all banks and the actions they have taken.

5 What Consulting Services does Alliance provide? Alliance advises its clients on the entire collections process. Alliance understands each community is very unique. In addition, each unit in every Association has a unique set of circumstances; what actions the bank has taken, the occupancy of the unit and the condition of the unit etc. This information, obtained by Alliance, is paramount before the Association can make an informed decision on each specific unit. I owe my attorney too much money to leave him. What do you suggest? Alliance has a program that pays off your outstanding legal bills. This immediately helps the Association stop the outflow of money for collections. At what point does our Association give Alliance the file? This is determined by the Board, the Association s Collection Policy and the property manager. All decisions are made by the Association on a case by case basis, at all times. Do we have to transfer all collections files to you? No, the Association decides which units are given to Alliance for collections. Who handles the collections process? Do we get an account manager? Your Association will be given a specific account manager to handle your account. There is no charge to contact your account manager at any time. Your manager will be hands on and will be visiting your property frequently. Does Alliance work with the owners to set up payment plans? Yes, Alliance works within the guidelines provided by the Board, the Association s Collection Policy and the property manager to determine the terms of the payment plan. Once a plan is established, Alliance monitors the plan on a monthly basis to make sure payments are being made in a timely manner. How long does your process take? When do we see results? Results happen the day your Association contracts with Alliance. First, the Association stops incurring collection fees. Second, our approach through our outbound call center produces results in the first month. The success with each Association varies based upon several factors. This includes how many bank foreclosures have been filed, how many short sales are taking place, does the community have many renters, etc. Does the Association have to sign a long term contract? No. The Association can terminate our contract for any reason, with or without cause, with written 30-day notice. What Licenses do you have? Alliance is a licensed collections and a real estate brokerage company in the State of Florida. Do you have references? Alliance works with numerous Associations throughout Florida. References will be furnished upon request.

6 Testimonials With Alliance, CAS on the same side of the table as our condominium Association, we never have to worry about receiving an invoice for collections. They have collected over $250,000 in the last 6 months. Maddy, President in Broward County HOA, 425 units. Alliance, took our Association from a 75% delinquency rate down to 8% delinquency rate in 8 months. Raymond, President of Miami Condo Association, 112 units. Great Job! We would not have collected this money if we hadn t hired you! Tell Scott thanks! Barbara, Condominium President in Broward County, 424 units. Alliance has provided our Association with results in the first month. Their communication and responsiveness is exactly what the doctor ordered. Brian, President in West Palm Beach HOA, 1,100 units. Since selecting Alliance, CAS to perform successful collections for our condominium Association, our cash flow has improved tremendously! They have collected over 200k in the last 6 months. Chris, President of Orlando HOA, 312 units. With our previous attorney our Association collected $43,507 in 19 months unfortunately we had to pay our attorney over $63,000 to collect that money. In less than 5 months the team at Alliance has collected $47,200 for our Association and it didn t cost us anything! Paula, Condominium President in West Palm Beach, 288 Units. Having Alliance, CAS collect on our behalf allows our commercial property to focus on growing our business! Ken, President of Miami Beach Condo Association, 384 units.