Property management in Latin America & the Caribbean: six reasons to improve collections

depas 4Property management is a demanding business. Often an administrator, a property manager, manages the common affairs of multiple unit complexes and is a key figure in keeping the common areas of the complex in good standing on behalf of the homeowners association.

The property manager is also responsible for collecting the monthly maintenance fees from the homeowners.

The majority of the property managers I speak to all over Latin America and the Caribbean have delinquent accounts in their portfolio. This reaches from a single bad payer to entire unit blocks that irregularly pay or do not pay at all.

In most of Latin America and the Caribbean it is unusual that the collection of maintenance fees is outsourced to an account receivables management provider or later on to a debt collection agency.

In the major cities and the tourist areas there is however an opportunity to improve the financial health of the homeowners associations and a business opportunity for accounts receivables management providers and debt collection agencies to fill the gap.

Reasons for property managers to outsource collections of maintenance fees to professional account receivables management providers and debt collection agencies are the following.

  1. It will result in increase of cash flow and more funds for the association to improve the quality of common areas and to invest in common affairs;
  1. It means less time spent for the property manager on collections and more time spent on property management;
  1. For debt collection, if your debt collection agency works on a contingency basis and charges and effectively collects interest and collection fees, your costs of involving a third party debt collection agency may be minimal;
  1. Giving the collections out of hands to a third party can improve the property manager’s relationship with the homeowners, as he is not the “bad guy” anymore chasing homeowners for money, but rather the outsource party is;
  1. It adds professionalism to the homeowners association’s financial housekeeping and improves collection processes;
  1. It will prevent more people from falling into bad payment behavior, as it is a clear regulative message towards all paying homeowners that the collection process is properly taken care of, and towards the bad payers that irregular or non-payment of maintenance fees is not tolerated.

There is an opportunity to improve the collection processes of homeowners associations all over Latin America and the Caribbean by outsourcing collections to professional account receivables management providers and debt collection agencies.

The reasons to engage professional account receivables management providers and debt collection agencies in the collection of property maintenance fees are: increase in cash flow, more time available to spent on property management, costs of outsourcing may be limited, it improves the property manager’s relationship with the homeowners, it adds professionalism to the collection process, and it prevents more homeowners from falling into bad payment behavior.

If you are interested in learning more on the subject of debt collection for property management let’s connect on Linked-In or follow me on Twitter.

To participate in conversations about debt collection in Latin America & the Caribbean please join the Linked-In Group Debt Collection Latin America.

Cobroamericas Habitat: cobranza para administracion de condominios

150201 Cobroamericas Habitat 2La administración de condominios es un trabajo exigente. La administradora de condominios, que presta un servicio profesional, es una figura clave en la preservación de un ambiente de calidad y de bienestar de los residentes.

También la tarea de la cobranza de cuotas de mantenimiento le toca a la administradora. En general, hay aún mucho por mejorar en la gestión de cuentas morosas por parte de administraciones de condominios en México.

La cobranza es atípica por el hecho de tratarse de áreas comunes (con varios copropietarios) y residentes que, por ser dueños de una propiedad en el condominio, siguen siendo parte de le carpeta de clientes de la administradora. Eso requiere un trato especializado hecho específicamente para la administración de condominios.

Aquí seis recomendaciones para administradoras de condominios al fin de tener un proceso de cobranza profesional y efectivo.

  • Debe de haber un contrato de prestación de servicios con la asociación de residentes y el contrato tiene que cumplir con los requisitos básicos que dictan la Ley y que hacen que la administradora tenga un mandato contractual para la cobranza;
  • Los reglamentos de la asociación de residentes tiene que incluir un protocolo y un proceso de cobranza incluyendo derechos y obligaciones de los residentes y la administración y una descripción de las penalizaciones de los residentes en caso de morosidad;
  • Es importante que la administradora tenga una base de datos completa y actualizada con nombres y datos de contacto de los residentes (ya que no siempre todos dueños viven en la vivienda);
  • La administradora tiene que tener su propio protocolo estandarizado de cobranza interna (realizada por la administradora misma);
  • La administradora necesita capacidad (es decir, genta interna o externa dedicada a la cobranza) para poder cumplir con sus propios protocolos y procesos de cobranza);
  • La administradora tiene que tener su proveedor externo de servicios de cobranza para los casos de morosidad que persisten después de haber pasado por todo el proceso de cobranza interno.

Cobroamericas Habitat es una marca de Cobroamericas S.C., agencia de soluciones de recuperación de cartera vencida con sede en México. Si te interesa saber más sobre las soluciones en la cobranza de cuotas de mantenimiento, por favor envíanos un email a: info@cobroamericas.com.