Update on Fees and Fines for Late Notices.
Over the last few years the Forest Creek HOA board has removed some late fees on accounts when circumstances warranted it. We discovered the Association was being charged a fee for every late notice sent out, so if a fee was waived, that cost the entire community instead of the responsible party.
When a home is late in payments and their account payable balance exceeds $150, a late notice will be sent out and the association is still charged the fee of $25. Going forward, that $25 charge will then be charged to the homeowners account instead of incurred by the community. Therefore, if you miss your quarterly payment and ignore your late notices, the amount you owe can rise quickly.
A couple of other things to warn about:
- If you have opted for email statements, you will get those instead of US mail, but the fee is still the same
- If you incur fees or fines for ACC violations or code violations, and those meet the $150 threshold, this will trigger a notice to be sent and the fee will apply
Recommendations to avoid unnecessary fees or fines:
- Pay dues on or before the date they are due
- Make sure your email address on-file is up to date if you are receiving e-statements
- If you are paying quarterly, sign up for the ACH option so you do not miss a payment
- If you do receive a late notice and you think it is incorrect, notify RealManage immediately. If you cannot get help from them, contact the HOA board to help get the matter resolved.
This communication is to bring transparency to the fees and fines process and to help avoid our community members from having to pay unnecessary fees and fines that could have otherwise been avoided. Additionally, our best advice is to not get behind on your dues or ignore communication from RealManage. Once an account is turned over to the lawyers to handle, the fees, fines and costs escalate quickly.