Your Board of Directors is pleased to announce that HOA fees associated with certain events have been reduced.

Most folks know what it is like to “bounce” a check.  It can be aggravating, embarrassing and expensive and in the vast majority of cases unintentional!  Since January 2009 the HOA has been able to charge a fee to homeowners for “bounced” checks equal to $50 plus the fee charged from our bank for the returned check.  In most of these cases a returned check for HOA Dues also meant that the dues payment was now considered “late” which resulted in a further late payment fee of 20%, or another $41.  On top of that, the homeowner’s bank also charges a fee for a returned check.  When added together, one bounced check for the $205 homeowners dues could cost a homeowner an additional $140 or more in fees!

Your board feels that these fees are too high and unjustifiably punish homeowners for what is usually a simple oversight.   Accordingly the policy below was unanimously approved at the December 6, 2016 meeting.

In addition to lowering certain fees, the resolution clarifies that the application of late fees will take place after 5 business days rather than 5 calendar days.  It is hoped that this will reduce timing problems some homeowners may have with pension or other deposits that may affect their ability to pay their HOA dues before late fees apply.

Your Communications Committee