Axela Technologies and mem property management team up to bring respectful collections to community associations
Press Release – updated: Jun 13, 2019 15:21 EDT
MIAMI, June 13, 2019 – Axela Technologies, the nation’s leading community association collection agency has announced a strategic alliance with mem property management in New Jersey. mem property management is a leading community association management company providing services for HOAs and condos in New Jersey.
This partnership challenges the status quo of delinquent maintenance fee collection, utilizing cutting edge technology and personal engagement with property owners.
“Since the real estate meltdown in 2008 foreclosing on delinquent units has been the default solution for community associations which is not a collections process but rather a legal process” said Martin Urruela, CEO of Axela Technologies. “Times have changed, and the nature of today’s delinquencies are different”. Until recently, many properties were underwater, often unsuccessful real estate investments. For many associations, pursuing foreclosure was the only option.
Today we are looking at a different dynamic.
The recent economic growth enjoyed by the United States has dramatically changed the outlook of the average homeowner. With equity, homeowners are significantly more motivated to pay their delinquent maintenance balance. This paradigm change demands a new collections strategy and Axela Technologies is ready to provide one. With a process built on education and respectful engagement, Axela not only aims to collect past due assessments, but to improve a community association’s financial wellbeing. Axela strongly believes that legal action should be the last option, not the first.
Delinquent assessments place a significant burden on a community association. The shortfall in revenue will easily unbalance the budget, causing reduced services, increased dues, and even special assessments. While conventional wisdom has been to send such units to a lawyer, the reality is the association can incur high legal fees with no guarantee of resolution. Furthermore, chasing delinquent homeowners is a serious drain on human resources, often pulling managers away from their primary responsibilities of facility management and customer service.
In tandem with Axela Technologies, mem property management will engage the delinquent owners with FDCPA compliant practices which include written notifications, outbound calls, a dedicated inbound domestically staffed call center, and credit bureau reporting. The costs for these services are charged through and payable by the delinquent owners preventing additional burden to the good paying owners.
“There is no question that mem property management is an early adopter and has a clear vision on how to best resolve the problems that plague community associations, even during robust economic times. It is good to be working with a company where innovation and vision are part of their corporate culture” said Urruela.
About Axela Technologies
Axela Technologies is a collection agency that specializes in recovering delinquent assessments for the benefit of community associations nationwide. Their focus is to reduce the cost of collections and customer engagement by automating the process and engaging the delinquent owner with dedicated and highly trained collections professionals. If Axela cannot recover their costs from the delinquent owners, they do not hold the association responsible to pay for these costs.
To learn more about Axela Technologies, please visit axela-tech.com or call Mitch Drimmer at 786.832.9849
Source: Axela Technologies
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