Billing Statements, Payment Coupons or ACH (Automatic
withdrawal of Homeowner Assessments) are methods that can be used to collect
assessments. The payment coupon system has shown to cost as much as one third
less than monthly billing statements. Payment coupons are pre-printed with the
name of owner, unit number, and assessment amount and are mailed annually to
each homeowner.
LATE NOTICES
Associated Professional Services will mail a late notice
shortly after the association's late period to all homeowners who are
delinquent. A late processing fee will be assessed to the individual delinquent
homeowner to cover the cost of processing the late notice and bookkeeping
delays. The fee can be taken out of the association's late fee or can be added.
COLLECTIONS
Associated Professional Services will take action on
delinquent accounts according to the association's collection policy. A
pre-lien letter will automatically be sent certified at the proper time
notifying delinquent homeowners of the time period before a lien will be filed.
The Board of Directors will be provided a list of delinquent homeowners that
require a lien. With approval from the Board of Directors, Associated
Professional Services will have the lien filed. A fee will be charged to a
delinquent homeowner for each of the collection steps, pre-lien and lien
filing. These charges are in addition to attorney fees.
If initiation of foreclosure is required , an additional
charge will be assessed.. If necessary, Associated Professional Services, with
the consent of the Board of Directors, will arrange payment schedules and plans
for homeowner's delinquent in their account.