Unit owners tell us they simply cannot afford and/or refuse to pay assessments for whatever reason, how is LMF going to collect assessments better then us or our management company?
First of all, LMF pays up front cash for the assgnment of the delinquent account. Florida Law grants Associations priority lien powers to ensure an Association can collect its dues. However, collecting delinquent assessments through claim of lien actions or foreclosing on liens can be a tedious and time consuming process that requires up front capital to pay legal fees and costs. The up-front capital and collection work also goes beyond a management company’s scope of typical services. LMF has the resources, personnel, legal knowledge, and collection experience to fully utilize a condo association’s statutory rights, and a business strategy designed specifically to recover delinquent assessments. In addition to collection efforts to unit owners, we use assigned lien rights to negotiate collection payments from mortgagees, loan guarantors, etc. LMF will also offer to buy out mortgagees/owners, take title and negotiate mortgage modifications or enter into forbearance agreements with mort
