Question:
What’s the maximum interest and penalty you can charge an HOA homeowner in Smith County, TX for late dues (assessments)? Thank you!!!!!!
– Tammy
Answer:
Hi Tammy,
The Texas Property Code Section 204.010(10) allows HOAs to collect late charges and interest for late assessments. However, there seems to be no indication regarding the maximum penalty. Nonetheless, the fine imposed for late fees generally must not be arbitrary and they must be reasonable. The governing documents may also contain provisions restricting how much the HOA can charge. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
