Nearly $150,000 in Financial Improvement

Assessment delinquency can have a significant impact on your association’s financial health. When a Board expressed concern with their assessment delinquency before joining Spectrum, they asked what success we had with another customer utilizing Spectrum’s billing and collections process. So our team did what we do best: we shared the data.

The board wanted to better understand how Spectrum’s approach was impacting their association’s financial health and whether our billing and collection efforts were truly generating results.

So, we presented a closer look at the numbers.

When you’re evaluating a management partner, you want to know that their billing and collections process can produce measurable results. 

Spectrum compared the community’s financial position from the previous management to one year later under Spectrum’s management. The results showed significant improvements across multiple areas, including delinquent assessments, legal accounts receivable, prior-year collections, and the total number of homeowners who became current on their accounts. 

Rather than simply saying our billing and collection processes were effective, we were able to show the board the measurable impact.

In just one year:

Delinquent current-year assessments decreased by nearly 40%, dropping from approximately $63,000 to $38,000.

The number of delinquent homeowners also decreased from 193 to 116, meaning 77 more homeowners were brought current on their assessments.

Other major improvements included:

• 75 additional assessment payments collected, generating approximately $45,000 more in revenue
• Prior-year assessment collections increased from $42,000 to $95,000. More than doubling the amount collected
• Legal accounts receivable saw a significant reduction
• Overall, the association experienced nearly $150,000 in positive financial improvement

More Than a Billing Process

For your community, effective collections should be about more than sending bills and collecting assessments.

By taking a proactive, consistent approach to billing and collections, Spectrum can help an association recover outstanding funds, reduce delinquency, and significantly improve its financial position.

When you’re considering a new management partner, you deserve more than promises about collections. You deserve to see the results.

Nearly $150,000 in financial improvement. One year. Real results.