Notification from: Greenridge HOA
Dear Greenridge Homeowners and Residents,
The Board of Directors (the “Board”) of the Greenridge Homeowners Association, Inc. (“Association”) is writing to announce the adoption of the Delinquent Assessment Collection Policy (the “Policy”). The Board must act to protect the Association’s requirements for timely payment of assessments, and the Association’s legal and statutory rights. This policy has been established to ensure a fair, uniform, and consistent process for the collection of assessments, which fund essential services, such as landscaping, utilities, front entrance maintenance and repair, surveillance system, and management and legal services. As members of the Association, we all share the responsibility of funding the operation, maintenance, and administration of Greenridge. The policy is summarized below:
Assessments and Due Dates
- Annual assessments are due on February 1st of each calendar year, unless the Board notifies homeowners of a change.
- Special assessments, fines, or other charges are due as determined by the Board.
When an Account Becomes Delinquent
- Yearly annual assessments are due on February 1st and become delinquent on March 1st, of each calendar year.
- An annual assessment is considered delinquent if not paid within 30 days the due date.
Legal Collection of Delinquent Assessments
A delinquent account may be referred to the Association’s attorney or collection agent if:
- An assessment remains unpaid for nine (9) months after the due date;
- The assessment balance reaches $460.00 or more; or
- In certain situations, if a lawful and reasonable determination is made by the Board to refer the delinquent account for collection.
Once referred, additional reasonable legal fees and costs to collect the delinquency may be added to the account, as approved by law.
Late Fees, Interest, and Other Costs
If an account becomes delinquent, the Association may legally charge:
- A late fee (up to 10% or $10, whichever is greater);
- Interest (up to 10% annually); and
- All legal and reasonable costs allowed by law to collect the debt, including such costs as management and attorney fees.
Notice Procedures:
- Annual Statement of Assessment
- Annual Statement of Assessment will be sent to each home or property owner via mail to inform homeowners of the payment due date and payment procedures. An email notification of assessment due may also be sent.
- Reminder Notices:
- When an account has not been paid by March 1st, the management company generally sends to the homeowner monthly reminder notices that the assessment is due.
- Any legal administrative fees charged for these notices are the homeowner’s responsibility to pay.
- Failure to receive annual assessment bills, statements, or notices does not relieve homeowners of the obligation to pay assessments on time.
- Homeowners are responsible for keeping their mailing address current and should ensure their home and email contact information on file is current.
Payment Plans or Settlement Agreements
- Homeowners facing difficulties in paying assessments may submit a written request for a payment plan through the Association’s designated agent for Board consideration.
- Homeowners may also request in writing a settlement agreement.
- Approval of a payment plan or settlement agreement is not guaranteed and is decided on a case‑by‑case basis.
Restriction on Communication After Legal Referral
- Once a delinquent account has been referred for lawful and legal collection, all communications regarding the delinquent debt must be directed to the Association’s attorney or collection agent handling the collection rather than the Board members or the association’s management company.
- Board members and the management company cannot discuss the debt with the homeowner.
- All communication must go through the attorney or collection agent.
We encourage all homeowners and residents to review the policy and governing documents to understand their obligations for timely payment of assessments. Thank you for your continued cooperation and for helping keep Greenridge a wonderful place to live.
Best regards,
Board of Directors
Greenridge Homeowners Association, Inc.