Condo associations and homeowners associations will often charge certain fees. There may be set dues that have to be paid on a monthly basis, which should be factored into someone’s mortgage payment. A person may also have to pay fees or fines that have been levied on their property if they have violated the rules of that association.
One reason that property owners fail to pay these fees is simply that they have not budgeted correctly. For instance, the mortgage payment on a condo may be $1,500, but it may also come with $500 a month in condo fees. If that person did not budget for $2,000 in monthly expenses, they are quickly going to find themselves falling behind. Even if they are able to pay the base mortgage, they may miss the other fees.
They disagree with the fees
One common problem is that the property owner disagrees with the fees that are being charged.
For instance, condo fees are sometimes used for upkeep to the complex, rather than a specific unit. This means that a responsible owner who keeps their unit in good condition may feel that they are paying higher expenses due to the negligent actions of other owners, who allow their condos to fall into disrepair.
Additionally, when property owners face fines for violations, they may disagree with the fine. Even if the violation has been clearly spelled out in the paperwork that they signed when they bought the property, they may be unhappy to pay and refuse to do so. This can, in turn, result in more fines, making the situation even more serious.
Collection services
For condo associations and homeowners associations, knowing how to collect fees that are due is very important. This often gets complex and even contentious, and it can help to work with an experienced law firm.
