The role of a collection agency when recovering overdue strata levies is to support the strata manager, making their life easier, and at the same time, support the cash flow of the building, enabling timely payment of all essential maintenance, insurance and improvements to the building.
Managing the affairs of a building, is fast-paced, just like running a business and means the life of a strata manager is never dull. The strata manager is responsible for advising on all aspects of legislation and compliance, property maintenance and insurance, developing the building rules and by-laws, financial management and keeping custody of records, taxation and many other important areas of maintaining the asset on behalf of the owners.
A significant number of unit dwellings are owned by investors and occupied by tenants, and if the owner does not keep their address details current, it presents a problem when attempting to recover levies. Often one of the first tasks of a collection agency is to locate the owner, so the levy notice can be delivered and contact details updated. Such a simple thing can have a big impact upon the cash flow of the building, not to mention the frustration it causes to both the strata manager and all the other owners who pay their levies on time.
The team at AMPAC have been helping strata managers to recover overdue levies since 2003, and over the years have developed a reputation as a trusted provider of a complete range of debt recovery services to the profession. These services include:
With an end in sight to the various COVID related stimulus measures and record levels of consumer debt, it is anticipated that 2021 will see an increase in the rate of default on levy payments. Now is a good time to explore the options that will best serve your owners when it comes to the recovery of overdue debt.
To learn more about how AMPAC supports the strata community throughout Australia please contact us on 1300 426 722 or by email at firstname.lastname@example.org
Do you have debt that needs recovering? Are you unsure on where to start? Contact AMPAC Debt Recovery for solutions today and speak to one of our qualified consultants to get you started.