As the Director of a small management company that was almost crippled with unpaid service charges 3 years ago, we have made great progress collecting monies owed without punitive measures. However we have 2 owners who have refused to engage and I want to elevate this but don't know how. What I would like to see happen is to hit them with, say a 10% per annum penalty charge on their outstanding debt. And as a final measure if all else fails....sell their debt to debt collectors and let them do the chasing. These are just ideas with no research on either.
Obviously a meeting would need to be called and a vote taken on how to pursue these arrears. What is the best way for a small OMC with 16 units to isolate these people?
Obviously a meeting would need to be called and a vote taken on how to pursue these arrears. What is the best way for a small OMC with 16 units to isolate these people?