Most homeowners understand the consequences of late or missed mortgage payments. They especially understand the potential damage to their credit reports. Paying HOA dues on time is just as important, though.
Unfortunately, some owners don’t prioritize paying HOA dues as they do mortgages or car payments. Specifically, most believe HOA dues aren’t ever reported to credit bureaus. For this reason, reporting HOA dues and payments histories to the credit bureaus is a simple way to clear up delinquencies.
Why aren’t you reporting HOA dues to the credit bureaus?
Much like rent, utilities, and other non-bank payments, HOA dues are often unreported. The process may seem too time-consuming, expensive, or complicated for smaller organizations.
That’s why a group of credit professionals created Datalinx in 2001. We wanted to empower clients with simple technology and unlimited support. This helps them easily and accurately report monthly payment records to the four credit bureaus.
Benefits for HOA associations
When you notify homeowners of your partnership with Datalinx to report HOA dues payments, you’ll immediately benefit from:
- decreased delinquencies,
- fewer collection calls and visits, and
- leverage to negotiate with past-due payors.
Additionally, lowering delinquencies also opens opportunities for purchases or property investments. After all, you’ll most likely experience increased cash flow and stronger financials.
Call DataLinx today
Datalinx’s proprietary software integrates easily with most existing systems. Plus, our credit bureau reporting software seamlessly converts HOA payment information to the proper credit bureau-specified format. Our team works closely with you throughout the setup process.
Afterward, we continue to provide ongoing credit data consulting and support. Use our web form to contact us, or call 425-780-4530 to start reporting your dues today.
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