Question:
How is the due date of monthly dues reached? What is the average due date?
– Sue
Answer:
Hi Sue,
Usually, monthly due dates in HOAs are set in your community’s governing documents. If your HOA doesn’t have a set date, your board can decide on a date that works best for your community. Just make sure to consider your residents’ needs and situation. Give them enough leeway to plan for the fees every month.
When it comes to the most common due date for fees, I’ve worked with many HOAs that stick with the 1st of the month as the standard. Some associations also indicate a short grace period (usually about 10 to 15 days) before issuing any late fees. The key is to keep things clear and consistent so homeowners know what to expect.
If your board is thinking about changing the due date, just make sure to give plenty of notice and update your policies so everyone’s on the same page. Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
