Recovering Collection Costs Such as Interest, Late Charges & Attorney Fees Incurred in Collecting HOA Assessments

The payment of homeowners’ association assessments by the individual owners is critical to the proper functioning of a homeowners association. Homeowners who don’t pay their share of the assessments deprive the association of budgeted funds that are necessary for the payment of association expenses and create a hardship for the entire community and all of the other homeowners. Such a situation frequently results in extra costs for other homeowners and cutbacks in expenditures which over time negatively impact property values.

Because of the importance of collecting assessments in a timely manner, homeowners associations must implement and follow policies and procedures relative to the collection of delinquent assessments. As a result, homeowners associations frequently incur additional expenses […]