HOA Assessment Delinquencies are Skyrocketing

The level of delinquent assessments is increasing dramatically throughout California. The trend started in early 2023 and is accelerating. It is expected that the number of foreclosures will continue to increase as well, reaching extremely high levels late this year and early next year. Now is the time for homeowner associations to reevaluate their collection policies and consider increasing their allowance for bad debts when budgeting for 2025.