Providing affordable student housing since 1932

Member Debt Update

Hi Folks,

As of this morning, current members owe around $12,000. Eleven members owe more that $500. Because we wait two months before threatening legal action on unpaid charges, we have had several members move out with debt this year. Total bad debt this year is not yet calculated, I estimate around $14,000. We will have more accurate numbers this summer after the end of the fiscal year.

No one was actually evicted. Two people had court cases files but they moved out before the date of the hearing.

Progress has been made on collecting long term member debt too. We mailed around 200 letters to past members with debt. As of today we have around $2,600 in member debt that members have pledged to pay or have paid. We have also found some errors or ambiguous situations that have resulted in adjusted amounts due to ICC. Payments and corrections/adjustments reduce the burden on current and future members to have to pay for past member debt. Many were returned because the address we have is no longer up to date. I plan to keep whittling away past member debt via email and potentially a second mailing if we can find improved addresses for folks. (fill out the share return form!!!)

I want to thank Josh Moss for his leadership through this process all year, as well as Swanand Kanere and Alex Newman who helped to stuff envelopes for the mailing last month.

Thank you all for your leadership.

Brian Donovan
General Manager