REDS provides a competitive advantage
If you are in the business of HOA property collections, the REDS property monitoring system brings definite advantages to your collections process. With most HOAs, collections property reports are pulled each time a legal process is initiated to confirm property ownership.
By monitoring your cases with our service, you will not need to pull additional reports in those cases when we have not informed you of a change in either ownership or foreclosure status.
But for those times when pulling a property report is required, we don’t charge for standard report bundles, and there is no minimum monthly fee. You only pay for the reports you need. As a result, when using both services, data costs are reduced and staff efficiency is increased.
Before using REDS our only option was to purchase reports from data companies that charged minimum monthly report fees based on standard report bundles. This meant that we had to pay for reports that we did not need and it always ended up costing more than expected. With REDS Individual Report Service there is no minimum fee and we only pay for the reports we actually need. Consequently our data costs have been cut substantially.
Modeline Orey, Collections SupervisorÂ
Community Legal Advisor
When Time Is Money
Source: Commercial Law League of America
