Each association’s documents can require a different set of rules. Often if there is non-payment on an owner’s account, the covenants expect a late payment fee and interest to be assessed on the account. If the account continues to go unpaid, a preparation of account fee will also be applied to the owner’s account.
Should an owner’s account go unpaid, the owner may receive up to three separate letters mailed to the mailing address on file over the course of 90 days. The first letter is a Payment Reminder, then a Second Notice and finally an Intent to Lien is mailed to the addressee. Should an owner receive an Intent Lien Notice, they are given 15 days to make arrangements for payment. The Board of Directors determines if the delinquent account should be turned over to the association’s collection attorney.