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HOA Assessments, Fees & Fines: Vintage Hills V

The following is the delinquency policy, fine policy, and schedules for fees and fines, as provided for in the Declaration of Covenants, Conditions and Restrictions of Vintage Hills V Homeowners Association and RCW 64.38.020.

Assessment Amount Per Home (2019) $ 300.00 Annual
Due Date (2019)   01/01/2019 Paid in full
Annual Assessment Late Fee $ 50.00 Annual
Annual Assessment Delinquent Interest   12% per annum
Special Assessment Late Fee $ 25.00  
Special Assessment Delinquent Interest   12% per annum
Collection Service Fee $ 25.00 per month
Returned Check Fee (each check) $ 25.00  
Lien Filing Fee $ 330.00  
Legal Handling Fee $ 50.00  
Lien Release Fee $ 100.00  
Escrow Transfer Fee $ 25.00  
Grace Period   30 days

 

Fines

First Notice   none
Second Notice Fine $ 50.00
Third Notice Fine $ 250.00
Fourth Notice Fine $ 100.00 per day

 

POLICY REGARDING LATE PAYMENT OF HOA ASSESSMENTS
VINTAGE HILLS DIVISION V HOMEOWNERS' ASSOCIATION

The Board of Directors of Vintage Hills Division V Homeowners' Association has approved and implemented a policy regarding the late payment of homeowners' association assessments. This policy is in accordance with the Declaration of Covenants, Conditions and Restrictions of Vintage Hills Division V Homeowners' Association:

  • Homeowners' assessments (dues) are due on or before January 1 of each year.

  • Although the due date is January 1, a grace period of 14 days is granted to allow for mail and other unforeseen delays. Dues are not considered late if paid by January 15.

  • After January 15 dues are considered late and will accrue interest on the unpaid amount at an annual rate of 12% from the due date (January 1). The Association will send a reminder letter (the "First Letter") by first class mail to the homeowner at his/her last known address stating that the dues are past due, interest is accruing, if dues are not paid by January 31 a late charge of $50 will be assessed, and if the homeowner disputes the validity of the dues he/she must notify the Association in writing within 30 days. A member of the Board of Directors of the Association will attempt to e-mail or telephone the homeowner to notify him/her that the payment of annual dues has not been received. The Association's treasurer may, at his/her discretion, waive the interest fee during this time period.

  • If dues remain unpaid after January 31, and after mailing the First Letter, a late charge of $50 shall be assessed in addition to interest, which shall continue to accrue. The Association will send a second letter (the "Second Letter") by first class mail to the homeowner at his/her last known address stating that the dues are past due, a late charge of $50 has been added to the account, and that interest is accruing. The letter will also inform the homeowner that if dues remain delinquent, the Association may, upon fifteen days prior written notice to the owner, place a lien upon the owner's property. A member of the Board of Directors of the Association will attempt to e-mail or telephone the homeowner to notify him/her that the payment of annual dues has not been received. The Association's treasurer may, at his/her discretion, waive the late charge and interest fee during this time period.

  • If dues remain unpaid after February 20, and after mailing of the First Letter and Second Letter, the Association may send a 15-day demand letter by certified mail and first class mail to the last known address of the owner stating that the owner is in default for nonpayment of dues, that late fees and interest have been added to the account, that the account must be brought current within 15 days, and that failure to remit payment in full to the Association will result in the placing of a lien against the delinquent owner's property.

  • If dues remain unpaid after March 15, and after mailing of the First Letter, Second Letter, and 15-day demand letter, a lien filing fee may be assessed against the delinquent account by the Association and a lien may be filed against the delinquent owner's property. Once the account is paid in full and current (including pre-payment of a lien-release fee), the lien will be released within 5 business days.