HOA Check

Ronald,

If your governing documents or a published policy doesn't address how the payment would be applied, then you should follow what the member intended the check for. It is possible that the member is in disagreement about the fines and wishes to challenge them or ask that they be waived. It is also possible that the member wishes to pay off the assessments first so there is no additional fines and then pay off the fines.

Remember the work "if" at the beginning of the statement. My Association charges fines and fees that, due to a published policy and as outlined in our CC&Rs, become part of the assessed balance. Payments go to pay off the balance of the assessment. Therefore, the payment received would be applied to the whole balance.

If you are the homeowner making the payment, and wish to challenge or request that the fees be waived (remember the BOD doesn't have to waive the fees) a better comment on the check would be that this is for MONTH/YEAR ASSESSMENT AMOUNT. You should also include a letter with the payment stating that the payment should be applied to the annual assessment amount only and request a hearing with the BOD about the fees.

Tim

Thread moved here:
http://www.hoatalk.com/Forum/tabid/55/forumid/1/postid/92396/view/topic/Default.aspx

DO NOT REPLY BELOW THIS LINE (wink)
---------------------------------------------