Glendale enjoys a flourishing population of more than two hundred thousand people. In only 50 years, the city has grown by approximately 82%, and it keeps on growing by about 1.5% annually. As the city limits of Glendale have extended, so has the necessity for housing. A homeowners’ association (HOA) is the governing organization of a community that imposes the covenants, conditions, and restrictions (CC&Rs) of its subdivision. Our Glendale HOA management company enforces the rules which HOA members comply with and work on behalf of the community’s board of directors. For instance, the CC&Rs might state that occupants can’t leave their garage door open for a lengthy period or necessitate approvals for landscape changes. One of the hallmarks of HOAs are also the dues or assessments the organization collects to maintain the community, but what happens if residents decide they don’t want to pay these necessary HOA fees?
1. Taking away your privileges
On top of the notice and late fees levied on the account, the Glendale HOA management company working on behalf of the HOA, might abolish your privileges or admission to certain shared areas and amenities such as tennis courts, swimming pools, etc. This helps incentivize residents to pay their dues so they can use the amenities and re-establish their privileges that the assessment money collected goes towards.
2. Filing a lawsuit
Some HOAs, if permissible, can take legal action against you for the unpaid fines and dues. They will most likely also send your past-due account to collections, which will impact your credit. Again, this is to incentivize payment and upholding the contracts entered into when first purchasing a home in the HOA.
3. Lien or Foreclose on your residence
If you repeatedly neglect to pay your dues, your HOA has the alternative of filing a lien on your home. This means that you can’t refinance or sell the home devoid of paying the delinquent HOA dues. This also allows the HOA the capability of foreclosing on your home. These may sound like extreme measures, but that’s because it is in response to extreme late payments. Foreclosure because of HOA late fees should never be a reason why people wouldn’t consider an HOA, as it is a last resort and most HOAs do all they can to absolutely avoid doing this to the residents that live in their communities. For example, most communities will help establish payment plans to help homeowners bring their account current prior to filing a lien.
About HOA Management
If you have recently had a rough time financially or had an unexpected expenditure arise that could set you back, it is good to contact the HOA straight away and make them conscious of the situation. If you act professionally and quickly, your HOA is more likely to permit you to set up a disbursement that works with your current finances. You will also find that when City Property Management operates as your HOA service provider in Glendale, we are there to make life simpler and to aid the HOA run effortlessly.