Osprey Cove, a condominium in Estero, was dealing with a wave of foreclosures that cut off maintenance fees from many of its units.
The community’s property manager, Hayden & Associates, had to deal with “huge delinquencies” and traditional ways of dealing with them weren’t promising, Ken Hayden said.
“You throw them in the collections meat grinder with an attorney and I just don’t think the legal profession was prepared for it or adequately staffed for it,” he said. "We set out to find an alternative way.”