|Re: Arrears HOA payments||<– Date –> <– Thread –>|
|From: Robert Heinich (robertenocommons.org)|
|Date: Tue, 13 Feb 2007 12:26:24 -0800 (PST)|
Racheli, I have appended our policy. So far we have not ever needed to take a lien on anyone's property. So what we have seems to be have worked for us. Of course, your mileage may vary. -Robert Heinich Eno Commons Cohousing Durham, NC where the Secret Pal Brunch is this Saturday :--- Dues Payment Policy: Dues are due monthly, to be paid by the end of the month in question. (Thus, at current dues levels, $100 would be due by the end of January, another $100 by the end of February, etc.). Members who like to pay quarterly or semiannually can still do so, but payment would be due in the first month of the quarter, half year, etc. If payment is late, the Treasurer will inform the member in writing that payment is past due. In case of temporary financial hardship, the member should inform the finance committee or a finance committee member of any problems in paying and meet to work out a mutually acceptable plan to make up past dues. Otherwise, interest at the rate of 8% annual will be charged on any unpaid balance. Past dues automatically constitute a lien on the property; however, if payments become more than six months past due with no payment plan worked out and followed, a formal lien on the house will be filed. Grandfather clause: For those members who are currently in arrears, interest will not be charged nor lien filed for the period preceding the adoption of this policy provided a plan for payment of past dues is worked out with the finance committee and followed. This plan and implementation must be in place within 3 months of adoption of this proposal. Otherwise interest will be charged as of adoption date of this policy and lien filed. The intent is not to be punitive; we intend to work with members in times of legitimate financial hardships, but we also recognize that it is crucial to the operation of the community that all members pay required dues in a timely manner. ----- Original Message ----- From: "Racheli Gai" <racheli [at] sonoracohousing.com> To: "Cohousing-L communities" <cohousing-l [at] cohousing.org> Sent: Tuesday, February 13, 2007 2:00 PM Subject: [C-L]_ Arrears HOA payments > Hi all, > A member of my community (Sonora Cohousing, Tucson) wished me to > find out what policies, if any, other communities have regarding late > payment > of HOA dues (especially large sums of late fees). > Have any of you experienced it? What have you done about it? > > Thanks, > Racheli. > > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > >
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