Homeowners’ associations, condo associations, and townhome associations rely on timely payments of assessments. From monthly fees to special assessments, these funds are the lifeblood of the community. Without assessments from individual members, an association can quickly run into serious financial problems, potentially even struggling to make basic repairs and conduct day-to-day operations.
At Keough & Moody, P.C., our Illinois unpaid assessment lawyers are skilled, experienced advocates for our clients. We have developed a proactive system to help HOAs/condos collect on unpaid assessments in the most efficient, cost effective manner possible. For a fully private, no commitment initial consultation with an experienced Illinois unpaid assessment attorney, please contact us today.
Collection of Assessments: Understanding Your Options
As a general rule, HOA and condo associations can benefit from trying to collect unpaid assessments with as little conflict as possible. Once a condo owner fails to pay their assessments, the first step is typically to send a 30-day notice—clearly explaining the nature of delinquency, the specific amount that is owed, and the association’s intention to take legal action if the issue is not resolved in a satisfactory manner. Depending on the nature of the case, the association may then need to escalate the matter, potentially including:
- Filing for eviction;
- Obtaining a lien; and/or
- Foreclosing on the property.
With unpaid assessments, it is crucial that associations always take swift action to protect their interests. The longer a delinquency is allowed to linger and the greater the amount that is owed by the unit owner/member, the more difficult it will be to collect. Call our Illinois collection of assessment lawyers for immediate assistance with your case.
Why Trust the Unpaid Assessment Attorneys at Keough & Moody, P.C.
For more than two decades, our law practice has been focused on protecting the rights and interests of community associations. We use a carefully-honed, proactive approach to helping HOAs and condo associations collect overdue assessments in an efficient manner. Among other things, our Illinois unpaid assessment attorneys are prepared to:
- Conduct a comprehensive review of your case;
- Carefully explain your options for collection;
- Work to resolve the matter at the lowest possible level; and
- Take whatever action is necessary to get results, potentially including liens, evictions, and foreclosures.
We firmly believe that every HOA/condo association deserves fully individualized guidance. No two delinquent assessment cases are exactly alike. Our Chicago, IL unpaid assessment lawyers will take the time to understand your needs and objectives. From there, we will devise a strategy to best protect your interests.
Call Our Illinois Unpaid Assessment Attorneys Today
At Keough & Moody, P.C., our Illinois HOA and condo law attorneys have extensive experience helping community associations deal with unpaid assessments. We offer actionable, reliable guidance on effective collection of past due assessments.
For a confidential, no obligation consultation with an experienced attorney, please contact our legal team today. From our law offices in Chicago, Naperville & Tinley Park, we serve clients throughout all of Northern Illinois including in Cook County, Will County, Kane County, DuPage County, and Kendall County.