SANTA MONICA, Calif. and ST. LOUIS, March 26, 2019 /PRNewswire/ — Sperlonga (www.sperlongadata.com) announced today a partnership with Innovia Co-Op (www.innoviaco-op.com) the community association management industry’s largest co-operative to provide credit reporting solutions to Innovia’s members. Sperlonga provides credit reporting as a managed technology solution to a variety of non-traditionally reported industries, including Homeowners and Condominium Associations. Credit reporting has shown substantial impacts to assessment collection throughout the industry.
Innovia members provide management services to more than 1 million homes and condos worth over $200B. The membership consists of over 50 independent management companies and provides immense value through collaboration, bundled buying power, and industry best practices.
Sperlonga’s credit reporting technology provides a mechanism for HOAs and Condo associations to report both timely and delinquent payments to the credit bureaus. This has been shown to both increase credit scores of on time payors and provide a deterrent to those that don’t pay timely.
“We are proud to partner with a leading organization in the industry like Innovia,” says Matt Martin, Sperlonga’s Chairman. “The membership consists of leading companies serving the communities we all live in and are some of the most progressive in adapting to the ever-changing landscape.”
“Innovia aggressively seeks out leading products and services for our membership to enhance their value to their customers,” said Mary Hurand, President of Innovia. “The industry has been yearning for this service for a long time and Sperlonga’s managed technology solution is a necessary tool our membership was looking for.”
Many Innovia members have already partnered with Sperlonga who boasts more than 200 management company partners that cover the country from coast to coast. “Given the size of the industry, we have many entrants and Innovia puts prospective partners through a rigorous vetting process before introducing them to the membership,” adds Hurand. “After speaking with and seeing results from Sperlonga with our existing membership, we believe positive credit reporting will become standard for the industry in the future and the negative reporting is positively impacting cash flow for associations.”
“The community association industry provides a vital function to where we live,” says Grant Jackson, VP of Sales at Sperlonga. “Homeowners deserve to be rewarded for making on time assessment payments that make sure the community and its amenities are in great shape for the entire neighborhood to enjoy.”