Question:
Do you think a monthly $50 late fee on an unpaid $200 special assessment amount is reasonable or more of a penalty?
TYIA
– Dina
Answer:
Hi Dina,
It is important to check your HOA’s governing documents to understand how much you can charge as a late fee on an unpaid special assessment. It is worth noting that many associations only charge $10 or 10% of the delinquent amount, whichever is greater. This may be a good example to follow.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
