MC4 (Florida)
Posts: 29
Posts: 29
Posted:
Does anyone know what is a lockbox fee on a finanacial statement mean? We have no foreclosures?
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DeeS1 (Michigan)
Posts: 223
Posts: 223
Posted:
For us, the lockbox is for deposits/payments to the association. I'm not sure if it is truly physical anymore or simply a charge for the payment coupon company to make the Annual dues deposits into our bank.
SusanW1 (Michigan)
Posts: 5,202
Posts: 5,202
Posted:
Storage unit?
safety deposit box?
shed?
safety deposit box?
shed?
JohnO6 (Georgia)
Posts: 424
Posts: 424
Posted:
Typically this is the cost that a bank charges your management company for "collecting" and "Posting" mailed in dues payments. Ordinarily it's a P.O. Box of the bank. The management company is just passing on this cost to the HOA.
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