Nevada Supreme Court Ruling on HOA Collections a Win for Nevada Homeowners

On May 30, 2012 / Press Release

Nevada homeowners earned a victory this week via a Nevada Supreme Court ruling that George Burns, director of Nevada’s Financial Institutions Division, overstepped the agency’s bounds by limiting the amounts homeowner associations (HOAs) can seek in collecting past due assessments.

May 30, 2012

“This decision protects homeowners from speculators who are interested only in making as much money as they can from buying and flipping bank-owned houses,” said Joel Just, president of Red Rock Financial Services, a FirstService Residential Management company. “These speculators have been using the legal system to try to pad their profit margins, at the expense of the dues-paying homeowners who live in associations.”

At issue was the cost of collecting debts owed to community associations when they are forced to fine homeowners who lose their homes to foreclosure for nonpayment of mortgage and HOA fees.

The Nevada Supreme Court issued the ruling in case number 57470, which was an appeal of a ruling by the Eighth Judicial Court in Las Vegas regarding a decision on HOA collection efforts by the Nevada Financial Institutions Division.

According to Just, Nevada Revised Statute 116 clearly establishes that these HOA collection costs are common expenses of community associations, allowing homeowner associations to assess delinquent homeowners for those costs. Additionally, NRS 116 allows these costs to be included within the association’s super-priority lien placed upon the property. This ensures the association recoups these costs, rather than having to raise fees for the homeowners who pay their dues on time.

Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit www.rrfs.com for more information.

FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units. FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at www.firstservice.com.
More related articles:
http://www.lvrj.com/news/high-court-upholds-delinquent-homeowners-fees-decision-153987765.html?ref=765
http://www.vegasinc.com/news/2012/may/24/nevada-hoas-win-ruling-over-collection-costs/

The previous decision by the director of the Financial Institutions Division only protected this small group of speculators,” Just said. “That decision greatly harmed homeowners who have been doing the right thing, paying their assessments and supporting their communities.”

Beverly Eickmeyer

On May 10, 2012 / Press Release

Red Rock Financial Services named Beverly Eickmeyer regional operations manager.

(PRWEB) May 10, 2012

In this role, Eickmeyer serves as the point person for the company’s client homeowner association (HOA) board members and community managers in Nevada and Arizona. She has decades of experience as a community manager and understands the financial issues facing HOAs.
“Beverly’s experience as a community manager gives her a unique perspective on how Red Rock Financial Services can better meet the needs of the HOA boards we serve,” said Joel Just, president of Red Rock Financial Services.
Understanding and navigating the legalities of the collections process can be challenging for volunteer HOA board members. Eickmeyer works closely with the HOA board members and their community managers to keep them apprised of the collection status of the accounts placed with Red Rock Financial Services.
About Red Rock Financial Services
Red Rock Financial Services, a subsidiary of FirstService Residential Management (FSR), is a nationwide, fully licensed collection agency providing services exclusively to community associations to assist them with their unique needs. Services include obtaining past due assessments, fines and other fees for homeowner associations while maintaining a strong focus on customer service and client relations.
Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit http://www.rrfs.com for more information.
FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units. FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at http://www.firstservice.com.
Link to PRWeb:
http://www.prweb.com/releases/2012/5/prweb9484534.htm
More related articles:
http://www.vegasinc.com/news/2012/may/28/people-may-28-2012/
http://www.lvbusinesspress.com/articles/2012/05/14/news/iq_53334272.txt

We created this position to ensure our clients have a direct point-of-contact that can address any questions or concerns that arise during the collection process,” said Joel Just, president of Red Rock Financial Services.

James Gibson

On April 19, 2012 / Press Release

Red Rock Financial Services has named James Gibson to the position of Regional Sales Manager.

(PRWEB) April 19, 2012

Red Rock Financial Services, a FirstService Residential Management Company, has named James Gibson to the position of Regional Sales Manager. Gibson, a longtime Nevada resident, was most recently Sales Manager for Red Rock Financial Services’ Northern Nevada operations. He will now oversee the Northern and Southern Nevada operations, as well as the company’s expansion into neighboring states.
Gibson will continue to be based in Reno. He is a graduate of the University of Nevada, Reno and is involved with many community organizations such as the Reno-Tahoe Young Professionals Network and Professionals Helping Homeowners.
About Red Rock Financial Services
Red Rock Financial Services, a subsidiary of FirstService Residential Management (FSR), is a nationwide, fully licensed collection agency providing services exclusively to community associations to assist them with their unique needs. Services include obtaining past due assessments, fines and other fees for homeowner associations while maintaining a strong focus on customer service and client relations.
Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit http://www.rrfs.com for more information.
FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units. FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at http://www.firstservice.com.
Link to PRWeb:
http://www.prweb.com/releases/2012/3/prweb9418347.htm
More related articles:
http://peopleonthemove.rgj.com/people/119

The need for HOA collection services continues to grow, and James has a great deal of experience and knows this region well,” said Joel Just, President of Red Rock Financial Services.

David Swenson

On April 4, 2012 / Press Release

Red Rock Financial Services named David Swenson vice president of business development

(PRWEB) April 04, 2012

Swenson was most recently the regional sales manager for the Arizona market for Red Rock Financial Services. He has decades of experience in sales and marketing management.
“Not only does David understand the needs of the HOAs we service, but he also works with homeowners to facilitate an acceptable solution,” said Joel Just, president of Red Rock Financial Services.
“Red Rock Financial Services works diligently to ensure HOAs receive the monies owed while also working with homeowners,” said Just.
Swenson has a bachelor’s of science degree from Brigham Young University. He will be based in Las Vegas.
About Red Rock Financial Services
Red Rock Financial Services, a subsidiary of FirstService Residential Management (FSR), is a nationwide, fully licensed collection agency providing services exclusively to community associations to assist them with their unique needs. Services include obtaining past due assessments, fines and other fees for homeowner associations while maintaining a strong focus on customer service and client relations. Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit http://www.rrfs.com for more information.
FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units.
FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at http://www.firstservice.com.
Link to PRWeb:
http://www.prweb.com/releases/2012/3/prweb9325356.htm

David’s experience and leadership style will assist Red Rock Financial Services’ continued expansion efforts,” said Joel Just, president of Red Rock Financial Services.

Joel Just

On March 28, 2012 / Press Release

Red Rock Financial Services has recently named Joel Just president

(PRWEB) March 28, 2012

Mr. Just recently served as vice president of business development for Red Rock Financial Services, a fully licensed collection agency based in Las Vegas. Red Rock exclusively serves community associations nationwide. During his tenure, Mr. Just oversaw the company’s nationwide expansion to become the nation’s largest supplier of association collection services.
Red Rock Financial Services serves over 1,000 community associations nationwide including those in Nevada, Texas, Florida, Utah, Virginia, and Arizona.
About Red Rock Financial Services
Red Rock Financial Services, a subsidiary of FirstService Residential Management (FSR), is a nationwide, fully licensed collection agency providing services exclusively to community associations to assist them with their unique needs. Services include obtaining past due assessments, fines and other fees for homeowner associations while maintaining a strong focus on customer service and client relations. Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit http://www.rrfs.com for more information.
FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units.
FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at http://www.firstservice.com.
Link to PRWeb:
http://www.prweb.com/releases/2012/3/prweb9325245.htm

RRFS provides services to help delinquent homeowners bring their accounts current, ensuring that other homeowners will not have to pay more than their share and for associations to continue to offer the amenities homeowners expect.”

Elise Saadi

On March 23, 2012 / Press Release

Red Rock Financial Services named Elise Saadi regional sales manager of its Arizona operations.

Arizona (PRWEB) March 23, 2012

Saadi has extensive experience in the financial recovery industry and has served as legal counsel for commercial real estate companies and non-profit agencies.

Saadi earned her bachelor’s degree from the University of Arizona and her law degree from the University of Missouri – Columbia School of Law.

Red Rock Financial Services serves more than 1,000 community associations nationwide, including those in Nevada, Texas, Florida, Utah, Virginia and Arizona.

About Red Rock Financial Services
Red Rock Financial Services, a subsidiary of FirstService Residential Management (FSR), is a nationwide, fully licensed collection agency providing services exclusively to community associations to assist them with their unique needs. Services include obtaining past due assessments, fines and other fees for homeowner associations while maintaining a strong focus on customer service and client relations. Red Rock Financial Services also provides clients access to secure, web-based reporting tools. Visit http://www.rrfs.com for more information.
FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units.
FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at http://www.firstservice.com.
Link to PRWeb:
http://www.prweb.com/releases/2012/3/prweb9321534.htm

Elise has worked to ensure the financial stability of the clients she represents,” said Joel Just, president of Red Rock Financial Services. “She is adept at negotiation and is able to work with our clients to ensure the best outcome.”

Hiring of collection agencies by Community Associations is on the rise

On March 1, 2012 / Press Release

Many people have never had to deal with a collection agency as they paid their bills on time and, unless they owned a business, they certainly never had to hire a collection agency.

Now, however, with residential foreclosures continuing, the volunteer homeowners that make up Community Association board of directors are finding themselves in the unenviable position of considering the option of hiring collection agencies and lawyers to recoup lost revenue.

Community Association board of directors are facing challenges, not just in Arizona, but nationwide in finding ways to meet their community’s financial needs. Some associations have increased monthly assessments to make up for the downfall while other associations have discussed closing amenities such as pools and clubhouses. Still others have taken the extreme but very necessary step and hired a collection agency that focuses exclusively on recouping funds owed to association.

Red Rock Financial Services, the nation’s leading provider of Community Association collection services, has seen a 500% increase in business in Arizona since 2010 to 2011. Many associations are seeking out collection companies like Red Rock Financial Services since the company requires no up-front charge to the association and has an excellent track record for collecting past due assessments.

Though many associations and collection agencies often get a bad rap, we need to remember that when a homeowner does not pay their share, it’s the paying homeowners that pick up the cost. As an association board member it is incumbent upon you to research and know your options for maintaining the financial stability of your community. Hiring a collection agency that knows the ins and outs of Community Associations is just one tool in your tool box.

Press Release