Due from Related Party	9 Months Ended
Sep. 30, 2017
Related Party Transactions [Abstract]
Due from Related Party	2. DUE FROM RELATED PARTY A substantial portion of the legal services for the Company associated with the collection of delinquent assessments from property owners are performed by a law firm, Business Law Group (“BLG”), which was owned solely by Bruce M. Rodgers, the Chief Executive Officer of LMFA, until and through the date of the initial public offering. Following the offering, Mr. Rodgers transferred his interest in BLG to other attorneys at the firm through a redemption of his interest in the firm, and BLG is now under control of those lawyers. BLG has historically performed collection work primarily on a deferred billing basis wherein the law firm receives payment for services rendered upon collection from the property owners or at amounts ultimately subject to negotiations with the Company. Amounts collected from property owners and paid to BLG for the three and nine months ended September 30, 2017 were approximately $291,000 and $841,000, respectively. Amounts collected from property owners and paid to BLG for the three and nine months ended September 30, 2016 were approximately $281,000 and $946,000, respectively. BLG also recognizes revenue through its general counsel activities it performs for various associations. For the three and nine months ended September 30, 2017, BLG recognized revenue of approximately $6,000 and $34,000, respectively, related to general counsel work. For the three and nine months ended September 30, 2016, BLG recognized revenue of approximately $2,000 and 20,000, respectively, related to general counsel work. As of September 30, 2017 and December 31, 2016, receivables from property owners for charges ultimately payable to BLG approximate $3,920,000 and $4,385,000, respectively. Under the related party agreement with BLG in effect during 2017 as well as the previous related party agreement, the Company pays all costs (lien filing fees, process and serve costs) incurred in connection with the collection of amounts due from property owners. Any recovery of these collection costs are accounted for as a reduction in expense incurred. The Company incurred expenses related to these types of costs of approximately $128,000 and $394,000, respectively, during the three and nine months ended September 30, 2017. The Company incurred expenses of $188,000 and $381,000, respectively, for the three and nine months ended September 30, 2016, related to collection costs. Recoveries during three and nine months ended September 30, 2017 related to those costs were approximately $91,000 and $258,000, respectively. The Company recognized collection costs recoveries of $80,000 and $265,000, respectively for the three and nine months ended September 30, 2016. Following the change in ownership of BLG discussed above, the Company began paying BLG a monthly fee of $7,000 per month plus a minimum fee of $700 per unit in those payoff events where the collection amount was limited to the Super Lien Amount. Effective January 1, 2017, the Company entered into a new services agreement with BLG which partially alters the traditional deferred billing arrangement noted above. Under the new agreement, the Company pays BLG a fixed monthly fee of $82,000 per month for services rendered. The Company continues to pay BLG a minimum per unit fee of $700 in any case where there is a collection event and BLG receives no payment from the property owner. This provision has been expanded to also include any unit where the Company has taken title to the unit or where the association has terminated its contract with either BLG or the Company. Legal fees charged to the Company by BLG in excess of amounts collected from property owners for the three and nine months ended September 30, 2017 were approximately $266,000 and $787,000, respectively. For the three and nine months ended September 30, 2016, the Company incurred legal fees charged by BLG in the amount of $31,000 and $107,000, respectively. The Company also shares office space and related common expenses with BLG. All shared expenses, including rent, are charged to the legal firm based on an estimate of actual usage. Any expenses of BLG paid by the Company that have not been reimbursed or settled against other amounts are reflected as due from related parties in the accompanying consolidated balance sheet. Amounts receivable from BLG as of September 30, 2017 and December 31, 2016 were approximately $1,661,000 and $1,661,000, respectively. During 2016, the Company experienced a decline in collection events that affected revenues both to the Company and BLG. The significant balance in the receivable noted above reflects the decision by the Company to advance funds to BLG based on the amount of their unpaid legal fees due from property owners. The Company expects repayment of the receivable amount as collection events return to historical levels.

2. DUE FROM RELATED PARTY

A substantial portion of the legal services for the Company associated with the collection of delinquent assessments from property owners are performed by a law firm, Business Law Group (“BLG”), which was owned solely by Bruce M. Rodgers, the Chief Executive Officer of LMFA, until and through the date of the initial public offering. Following the offering, Mr. Rodgers transferred his interest in BLG to other attorneys at the firm through a redemption of his interest in the firm, and BLG is now under control of those lawyers. BLG has historically performed collection work primarily on a deferred billing basis wherein the law firm receives payment for services rendered upon collection from the property owners or at amounts ultimately subject to negotiations with the Company.

Amounts collected from property owners and paid to BLG for the three and nine months ended September 30, 2017 were approximately $291,000 and $841,000, respectively. Amounts collected from property owners and paid to BLG for the three and nine months ended September 30, 2016 were approximately $281,000 and $946,000, respectively. BLG also recognizes revenue through its general counsel activities it performs for various associations. For the three and nine months ended September 30, 2017, BLG recognized revenue of approximately $6,000 and $34,000, respectively, related to general counsel work. For the three and nine months ended September 30, 2016, BLG recognized revenue of approximately $2,000 and 20,000, respectively, related to general counsel work. As of September 30, 2017 and December 31, 2016, receivables from property owners for charges ultimately payable to BLG approximate $3,920,000 and $4,385,000, respectively.

Under the related party agreement with BLG in effect during 2017 as well as the previous related party agreement, the Company pays all costs (lien filing fees, process and serve costs) incurred in connection with the collection of amounts due from property owners. Any recovery of these collection costs are accounted for as a reduction in expense incurred. The Company incurred expenses related to these types of costs of approximately $128,000 and $394,000, respectively, during the three and nine months ended September 30, 2017. The Company incurred expenses of $188,000 and $381,000, respectively, for the three and nine months ended September 30, 2016, related to collection costs. Recoveries during three and nine months ended September 30, 2017 related to those costs were approximately $91,000 and $258,000, respectively. The Company recognized collection costs recoveries of $80,000 and $265,000, respectively for the three and nine months ended September 30, 2016. Following the change in ownership of BLG discussed above, the Company began paying BLG a monthly fee of $7,000 per month plus a minimum fee of $700 per unit in those payoff events where the collection amount was limited to the Super Lien Amount. Effective January 1, 2017, the Company entered into a new services agreement with BLG which partially alters the traditional deferred billing arrangement noted above. Under the new agreement, the Company pays BLG a fixed monthly fee of $82,000 per month for services rendered. The Company continues to pay BLG a minimum per unit fee of $700 in any case where there is a collection event and BLG receives no payment from the property owner. This provision has been expanded to also include any unit where the Company has taken title to the unit or where the association has terminated its contract with either BLG or the Company. Legal fees charged to the Company by BLG in excess of amounts collected from property owners for the three and nine months ended September 30, 2017 were approximately $266,000 and $787,000, respectively. For the three and nine months ended September 30, 2016, the Company incurred legal fees charged by BLG in the amount of $31,000 and $107,000, respectively.

The Company also shares office space and related common expenses with BLG. All shared expenses, including rent, are charged to the legal firm based on an estimate of actual usage. Any expenses of BLG paid by the Company that have not been reimbursed or settled against other amounts are reflected as due from related parties in the accompanying consolidated balance sheet. Amounts receivable from BLG as of September 30, 2017 and December 31, 2016 were approximately $1,661,000 and $1,661,000, respectively.

During 2016, the Company experienced a decline in collection events that affected revenues both to the Company and BLG. The significant balance in the receivable noted above reflects the decision by the Company to advance funds to BLG based on the amount of their unpaid legal fees due from property owners. The Company expects repayment of the receivable amount as collection events return to historical levels.