Money Trouble - Understanding Defaults, Arrears, and the Collections Process During COVID-19

The pandemic has had a profound impact on the ability of many shareholders, unit owners, and commercial tenants to pay their monthly fees and rent. This has created challenges for co-ops and condominiums in need of these funds to address the rising costs of running a building and addressing the new COVID-related challenges. With the moratoria on evictions and foreclosures starting to expire, the question of how to collect monies owed while navigating all of the new requirements and restrictions is one that boards must understand and address in order to uphold their fiduciary duty. This webinar will explain the different rules for co-ops and condominiums when it comes to collections, update attendees on the current status of court proceedings, and offer expert guidance on late fees, arrears, payment plans and using security deposits to cover back rent.

Sponsored by: Tane Waterman & Wurtzel, P.C.

01:01:00