Hey, Mr. Wonderful here and I want to talk about credit scores. Why? Because if you have a bad credit score it’s really expensive. People with bad credit scores have a hard time borrowing money, cause lenders don’t want to take the risk and they charge really high interest rates. So one of the best things you can do is drive up your credit score so you drive down your interest expense. It’s kind of crazy that anyone pays a bill and doesn't get credit for it. So, what I say is pay your bill, report it and lower your interest expense. Well how do you do this? You have your property management company get with Sperlonga. It's a great idea, that’s why I’m doing this shout out for Matt Martin. He’s driving this whole process. Sperlonga helps you reduce your interest expense by making you have a higher credit score. A very good idea. In today's world you want to be the best you can be, particularly when it comes to credit score. Sperlonga can help. REAL RESULTS | Sperlonga Data

In the past 2.5 years of credit reporting, Sperlonga has helped our property management clients recover millions in past due payments for their managed HOAs, reduce overall delinquencies from 32% to 10% and improve the credit scores of tens of thousands of on-time paying homeowners.  

Read more below about the real results we have helped to achieve for several of our property management clients. 

Reporting HOA accounts to credit bureaus through Sperlonga has helped this Atlanta area management company recover nearly $600,000 in past due payments for the communities under their management. 

66% of the debts paid off were previously 180+ days past due. 

Thanks to assessment credit reporting through Sperlonga, this Greenbelt Maryland Homeowners Association has, on average, experienced 3% of their delinquent balances paid off every month, with the largest percentage of debt paid off in the collections category.

$20,000 in past due payments that had been sent to collections, finally got paid off once the debt started being reported to the credit bureaus.

Nearly $370,000 in past due balances were paid off for these communities under management, 44% of the amounts being formerly 180+ days past due.

In 20 months of reporting this management company saw their monthly past due amounts drop by 58%.

Historically the largest category of debt that we see impacted by credit reporting is the 180+ days category. 

Repeatedly we hear from our clients that homeowners who had been neglecting their assessment payments for months are quick to get up to date when they see the delinquency on their credit report. 

We also see an impact in the collections category - as a lien which may impact them someday, doesn't affect a homeowner as much as a ding on their credit report affects them today. 

This Austin, Texas area management company saw an immediate reduction in the percentage of accounts delinquent as well as in the total past due amounts from the first month of credit reporting through Sperlonga.

Across their reporting communities, the percentage of accounts delinquent in assessment payments dropped from 19% to 14% in just a few months.

By partnering with Sperlonga, this Georgia based management company has made great strides in recovering unpaid assessment dues for their communities, especially dues more than 180 days past due.

 

By using the powerful tool of credit reporting HOA accounts, they have recovered a quarter of a million dollars for their managed communities. 

Reporting to the credit bureaus with Sperlonga's data aggregation service helped this Atlanta Georgia based management company recover nearly $450k for their HOAs.

$200,000 of the paid off debt was previously 180+ days past due. Once credit reporting started, homeowners had incentive to quickly get their accounts up to date. 

Payment delinquencies are a fact of life in property management. Don't leave one of the most effective tools in the toolbox. Talk to Sperlonga today about adding credit reporting to the benefits you offer your communities and they can experience the same great results at you have seen in the examples above.

6800 Owensmouth Ave., Suite 135

Canoga Park CA 91303

info@sperlongadata.com  |  818-200-0530 

© 2019 by SPERLONGA DATA & ANALYTICS SYSTEMS LLC

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