How DANA Properties Reduced Delinquencies and Gained Competitive Advantage with Reporting Assessment Payments

DANA Properties is a property management company based in El Paso, Texas, and is one of the largest management companies in the area. Prior to working with Sperlonga, DANA Properties followed the conventional process for collections, which involved sending demand letters, getting an attorney involved, and filing liens and lawsuits. The company did not have any proactive tools to reduce collections, and there was no incentive for homeowners to pay on time.

The standard collections process was time-consuming and costly for DANA Properties. The company wanted to reduce the delinquency rates and the fees for collections while also incentivizing homeowners to pay on time.

In November of 2016, through Sperlonga’s Assessment Payment Reporting, DANA properties can easily report delinquent payments to credit bureaus, providing homeowners with an incentive to pay on time. The financial and time savings that they get almost pays for the service itself.

“After we’ve used Sperlonga’s service for a year or two years, what the effect has been when I run the reports, it’s almost consistently that we’ve reduced the delinquencies by 30% and that’s without us taking any other action; no demand letters from our office, no attorney demands, and it’s been great! We had residents that didn’t really believe that we had the technology available to report to the credit bureaus.” – Sheldon Wheeler, President and CEO, DANA Properties

Furthermore, DANA Properties was able to increase ACH payments by about 25% in the last two years, resulting in significant savings on printing and postage on monthly statements. Working with Sperlonga was a tremendous service for DANA Properties, and the company would recommend it to anyone who manages HOAs across the nation. The service not only reduced the workload for the association managers, but it also incentivized homeowners to pay on time and reduced delinquencies.