Just how much can the HOA charge?

[Daytonacatfish]

What is the name of your state (only U.S. law)? Florida

As a owner in a HOA community I have been watching the late charges for late dues payments grow and grow. When I questioned the management company handling our HOA about the price of the fee, $25 on a $55 monthly fee, I was informed that they thought it was rather high but sure it had been passed by the board of directors making it the law in our association!

Am I just a penny pincher (sure I am) or is this rather extreme. We aren't a high priced development, but a blue collar working stiffs community. I've checked our docks and the fee charge for late dues is not included.

Thanks

 

[private_person3]

What is the name of your state (only U.S. law)? Florida

As a owner in a HOA community I have been watching the late charges for late dues payments grow and grow. When I questioned the management company handling our HOA about the price of the fee, $25 on a $55 monthly fee, I was informed that they thought it was rather high but sure it had been passed by the board of directors making it the law in our association!

Am I just a penny pincher (sure I am) or is this rather extreme. We aren't a high priced development, but a blue collar working stiffs community. I've checked our docks and the fee charge for late dues is not included.

Thanks

They are within their right to set the price for a late fee. $25 seems more than reasonable. Heck, $55 a month for your monthly due sounds nice. Mine is $265 each month!

 

[FarmerJ]

Its likely that late payments have become a problem so the increase is a way to discourage late payment.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Florida

As a owner in a HOA community I have been watching the late charges for late dues payments grow and grow. When I questioned the management company handling our HOA about the price of the fee, $25 on a $55 monthly fee, I was informed that they thought it was rather high but sure it had been passed by the board of directors making it the law in our association!

Am I just a penny pincher (sure I am) or is this rather extreme. We aren't a high priced development, but a blue collar working stiffs community. I've checked our docks and the fee charge for late dues is not included.

Thanks

**A: ask for a copy of the Board minutes approving such charges.

 

[Daytonacatfish]

I'll run out to our money tree and just pick a couple fresh fives!

Its likely that late payments have become a problem so the increase is a way to discourage late payment.

:

I'd pay on time if I had the money on time. Do you have a job or are you independently wealth? Thanks for your input, wish it was that easy!