Nevada Association Services, a Las Vegas-based company that collects homeowners association fees from delinquent homeowners, is expanding operations into the Reno area, company founder and president David Stone says.
Typically, homeowners associations have turned to title companies and attorneys to enforce delinquencies. Stone says he saw the need to expand to northern Nevada when research showed most homeowners associations were paying for this type of collection service. Familiarity with Nevada's legal system was another factor.
Stone says Nevada Association Services will not have a physical office in Reno because of legal requirements on secondary collection sites. But that shouldn't matter, he says, as collections are performed by phone and mail.
"All functions are centralized," Stone says. "Very seldom do we have the need for one-on-one interaction with a delinquent homeowner."
If NAS develops a significant presence in northern Nevada, Stone says the company will find office space in the area. NAS has already hired additional staff in the Las Vegas office and hopes for a 5 to 15 percent increase in business from this market.
"If I notice an increase of more than 10 percent I will need to take on another person," he says.
Stone has worked this particular niche for more than 15 years and started NAS in 1999. He says other companies have copied the NAS business model of providing free collection services to homeowners associations, with delinquent homeowners paying all fees.
"It is my creation, and one that I am very proud of," he says.
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