PLEASE OPEN YOUR STATEMENT AND REVIEW IT EACH MONTH.
Assessments changed in March with the new budget and many Owners who have set up to pay automatically via their bank or Habitat’s online portal, have not updated to the new amount due. So a balance is accumulating. Relatively small balances but once that reaches $100, late fees will be charged each month until their is a zero balance.
ALSO – several Owners put expiration dates on their automatic payments, and then forgot about it. In a couple cases, the balance accumulated to the point their account went to collections. And, legal fees will result and those are quite costly. Once their is a balance equal to 2 months of assessments or more, the building’s collections attorney will send a Demand Letter. To get to that point, means 3 months worth of statements were ignored.
It is each Unit Owner’s responsibility to open their statement, review their balance and charges, and to contact Management if there are problems. If you do need to reach us, e-mail to email@example.com.
In recent months, several unit owners who have set up some manner of automated payments, whether it be through their bank or the Habitat Company’s online portal, have had one or another thing happen resulting in a growing balance. Only to be surprised to get a collections notice from the Association.
Your monthly statement is important, as it is an Owner’s formal notice of what their balance is. This communicates not only the assessments, but additional charges and fees whether they be work tickets, parking, garage coupons, Health Club membership dues, etc. If these additional charges get ignored, or their is a complication of some sort with an automatic payment, late fees will get charged and then the balance can grow. Before you know it, this could result in a collections notice.
So whether you get an e-statement, or you get it in the mail, and whether you have an electronic payment set up or not, DON’T IGNORE IT. Review your statement each month so there are no surprises. And if there is ever a question about the balance, or if you do not receive your statement e-mail our team at firstname.lastname@example.org.