Assessment Payment Clarification

Image result for statements images"Contributed by Sherry Watson, HOAMCO Community Manager

Based on the new law regarding coupon books the following applies;

  1. Coupon books are no longer allowed.
  2. Paper statements must be mailed, or emailed, based on when assessments are due.  For example, if they are due monthly, then monthly statements must be mailed, if they are due quarterly, then quarterly statements must be mailed and so forth.
  3. The Board changed the assessments from monthly to quarterly in response to the new law to save the Association the cost of mailing monthly statements; postage, paper and envelopes.
  4. The first quarter assessments are due January 1st in full.  The new law prohibits the assessments to be due quarterly, but paid monthly.  If you wish to get back to monthly payments for budgeting purposes,  you have two choices;

First Option:  You may pay your January assessment in full on January 1st and starting the following month (February) you would pay 1/3 of the assessment and continue each month.  You must be ahead of the quarter so when April quarter assessments are due, your 1/3 payment will complete the total due.

Second Option:  If you are set up on auto-debit through the management company, the January assessment will pull the quarterly payment and starting the following month (February) you would put aside the 1/3  of the assessment and continue this each month, so that when April’s quarterly dues are pulled, you have the saved money in your account to cover the dues.

If you follow one of the two options above, January’s quarterly assessment will be the only time you will have to cover the 3 months all at once and then moving forward from February, you will set aside, or send in the 1/3 of the assessment due.

If you do not pay January’s quarterly assessment in full, before the end of the grace period, you will accumulate late fees, interest fees and collection fees monthly and these will not be waived.

18 thoughts on “Assessment Payment Clarification

  1. SEPTEMBER 25 , 2019 ASSESSMENT STATEMENTS. ” If assessments are paid in full by the 15th of the last month in the quarter, NO LATE FEE WILL BE ASSESSED ” I HAVE CHANGED MY ELECTRONIC PAYMENTS FROM MONTHLY , WHICH WAS FINE TO THE 15TH OF THE LAST MONTH IN THE QUARTER AS …..”STATED ABOVE” …AND EACH QUARTER THERE AFTER.

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    1. I like Barry in his previous comment had set my bill pay to pay for the first quarter by March 15th because that is what we were told in your earlier comments but to my surprise that is not what the quarterly statement read. I have now had to change my payment date to meet the new requirement. Please understand that this could confuse some elderly owners and cause financial problems. Under the circumstances I believe late fees should be waived for the first quarter. Gary E Durham

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      1. Gary – The Board has agreed to waive late fees for the first quarter so that residents can get their payments set up without causing undue hardship.

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  2. I find this very confusing. Are you saying we must pay $420 ( for Jan., Feb.. Mar.) by Jan. 15? Then we can pay $140 per month the rest of the year as long as payments are made by the 15th of that month? Please clarify.

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    1. Linda, the way I understand this is you will be charged the full $420 in January; if you do bill pay vs having HOMACO automatically deduct from your bank account, you can continue to make your next payments monthly but you need to be paid in full by the due date. If HOMACO automatically deducts your payment from your bank account, they will deduct the full $420 in January and then you will have 3 months in which to accrue the next $420 amount in your bank account before it is deducted. HTH

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  3. To the Board and HOAMCO – please consider allowing members to opt out of paper statements, and to instead choose to receive emailed/electronically delivered statements. This would save the postage and paper costs, which could then allow members to remain making their monthly payments as are done currently.
    Here’s an example of the waiver form that I found online —

    WAIVER AND AGREEMENT
    TO RECEIVE ASSOCIATION CORRESPONDENCE AND NOTICES VIA E-MAIL
    Whereas the Association understands that Members within the Association may desire to receive official Association documents and notices via e-mail instead of via first class mail, certified mail or other required forms of communication.
    Therefore, the Association hereby provides this Waiver and Agreement to Receive Association Correspondence and Notices Via E-mail (hereafter, the “Waiver”). Those Members who desire to receive Association correspondence and notices via e-mail only may execute this Waiver as listed below. Execution of this Waiver will serve to instruct the Association to only correspond with you and send notice to you via e-mail.
    I, _______________________________, THE OWNER(S) OF LOT _________ OF THE ASSOCIATION HEREBY WAIVE ALL RIGHTS AND PRIVILEGES AFFORDED TO ME BY THE CC&RS, THE BYLAWS, THE ARIZONA PLANNED COMMUNITIES ACT AND THE ARIZONA NON- PROFIT CORPORATIONS ACT AND HEREBY REQUEST THAT ALL ASSOCIATION COMMUNICATION AND NOTICES BE SENT TO ME VIA E-MAIL AT MY E-MAIL ADDRESS __________________________________. I FULLY UNDERSTAND THAT ALL CORRESPONDENCE AND NOTICES FROM THE ASSOCIATION WILL NOW ONLY BE SENT BY E-MAIL
    Sign ____________________
    Print Name _______________
    Date ____________________
    Email address ______________

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  4. This is going to cause financial hardship for many right here at the holidays! I have 2 lots and will have to come up with close to $1000.00. Don’t know if missed earlier communication, but this is the first I am hearing of this particular change!

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  5. Dipping into savings to cover first quarter prepay HOA dues…not happy post holidays.Some folks actually live on a strict retirement budget but I guess rich developers do not understand that concept!!!

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  6. Communication is important but the emails and even the letter we received in the mail totally mislead us about the change in billing (15th of last month in the quarter).

    Basically, we received very LITTLE notice that we are to pay the full quarter amount by January 1st.

    Whether it will be easy or difficult to pay this amount on short notice during the holidays, the way this was handled shows little regard or respect for homeowners.

    Does providing incorrect information in a notice of changes actually meets the requirement of notification?

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  7. These are points well taken. Everyone was trying to work through this legislative change. It was difficult to work out; mistakes were made and we apologize. The intent was not to mislead in any way. This is the reason the Board has agreed to waive late fees in the first quarter.We will endeavor to do better in the future.

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    1. Liz, during the Holiday we left messages on the phone and sent emails to cancel our auto pay. NO one bothered to replied so we assumed (our error, never assume) that it had been cancelled but today our bank got hit for the full amount. Does anyone there answer the phone or return emails?

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      1. Terry – Sherry Watson was out sick when this came in. Here is her response: They cannot leave the request on a voicemail and they left it in a general mailbox voicemail and not with me. However, they did not make the request in time, given these are pulled on the 3rd of the month.

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  8. Okay, we have had our HOA dues increased, we have just had to pay three months of higher dues, and yet here we are…in our cabins, in the snow with NO cinders on the hills. I have called, I have written, I have left messages, I talked to the HOA emergency person who said Sherry would be contacted and she would contact the person to authorize the cinders….And still NO cinders on the hills. This makes it VERY dangerous to get in or out of here. We have cinders by the trash bins..why can’t cinders be spread like they were over Thanksgiving? And why, when we have these big storms does anyone have to authorize cinders on the hills? It should be, needs to be, send in the plows, spread the cinders. Or, just send me a dang refund on this months HOA.

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