Important Things you Need to Know About Home Owners Associations

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If you are living in a townhouse, condominium or any other type of leased land property you should know that there are pros and cons within it. If you are currently living in a type of leased land property then you should be aware of all the benefits it gives you like great amenities such as a swimming pool, a fitness center, an entertainment area, and many more, living in one of them should also feel safe and secure since they should have high security staff like professional security guards, locked gates and a doormen, they also should have ready to work henchman if you need maintenance work like fixing the roof or fixing or repairing of equipment, you will also do not need to bother watering and cutting your plants since the workers will do them for you. But of course these amenities, security system and maintenance staff should cost money, which is why you are obliged to join the home owners association or HOA for short, you need to pay a significant amount of money per month or per year depending on the contract so that you can enjoy all the facilities and benefits that comes with living in a leased land property. You can get more info about hoa collection agency here.

So a HOA fee is basically a fee that range from $200 to $500 per month, depending on the current amenities available to be used, this range can also be higher if the community has agreed to add a new amenity such as an elevator or a new solar panel roof system, they will most definitely charge all the residents that is in the HOA community extra money in order for them to complete the new amenity, since all the residents should be equally responsible for the upkeep of this amenities. To gather more awesome ideas on hoa debt collection, click here to get started.

If a certain resident should stop paying their HOA dues then there is currently plenty of different methods for the home owners association to do so that they can collect that resident’s debt. One of the most simple way for them to try collecting fees is by sending the particular resident a demand notice which regards about his or her debt, they will most likely include the total amount of the individual’s debt, however late the debt was not paid, how much the is the interest and other late fee costs, and whatever else the HOA community may do to the resident if ever the fee is not paid in time. The HOA will also have the power to place a lien on your leased land property if you did not pay your dues on time, and if the HOA has a lien on your home then the worst thing can happen to you and they will put your leased home in foreclosure. Kindly visit this website http://www.ehow.com/how_8357661_collect-delinquent-hoa-dues.html for more useful reference.

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