Past Due HOA Assessments
February 14, 2007
Just as we seem to be climbing out of one past due HOA dues situation, we have another arise. We currently have one of the investor owned homes that is now over 90 days past due on their HOA assessments.
The past two times this has happened, it has been a long and arduous process for us to get paid. We will soon be turning this over to our HOA attorney for collection. Should those efforts fail to collect the dues in a timely fashion, we’ll be filing a lien on that property to make sure we have an opportunity to attempt to recover what we are owed.
As you know, with over $2600 due from 11213 and now another property owing over $400 and climbing, this starts to have a large impact on our cash flow and our budget. We will continue to stay on top of these items and keep you updated on the impact it’s having on our fiscal health.
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