Delinquency Collection Procedure and amounts due September 1st. 2015

 aquarius51Aquarius Condominium Association Delinquency Collection Procedure

This announcement was posted by the Board of Directors August 21, 2015.   At the bottom of this post it is the value of installment due September and destination of this 2015 Special Assessment. Two letters from AJ Mitchell (606 S) follow.                                 Special Assessment of 2013/2014 is still in effect.

  1. Assessments or charges paid on or before ten (10) days after the date due shall not bear interest, but all sums not paid on or before ten (10) days shall bear interest at the highest lawful rate (now 18% per annum) from the date due until paid.
  2. In addition to such interest, after the 10th of the month, the Association shall charge $25.00 an administrative late fee for each installment of the assessment or charges for which payment is late.
  3. After fifteen (15) days from the due date the Association shall send a letter to the unit owner to remind of late payment.
  4. After forty-five (45) days from the due date the Association shall send another letter with the reminder to the unit owner of late payment and the warning to pay before sixty (60) days from the due date, otherwise it will be sent to the Attorneys.
  5. After sixty (60) days from the due date the Association shall send information on a delinquent unit owner to the Attorney.
  6. The Attorney shall send a 30 day demand letter stating that he will file a claim of lien. If no resolution, the Attorney shall send a claim of lien that again gets a 30 day letter. If no resolution after that, the Attorney shall send the Board a request to proceed to file a foreclosure.
  7. All payments upon account shall be first applied to interest, then the late fee, then to any expenses of collection and costs and reasonable attorney’s fees incurred and then to the assessment or charges first due.

Board of Directors of the Aquarius Condominium Association

______________________

Click here and view the amount due September 1st. 2015

The post also shows what is the assessment for.

https://aquariusuno.com/2015/08/16/2015-assessment-new-installment-due-september-1st-check-your-contribution/

_____________________________

First Letter of AJ Mitchel to the Board of Directors of Aquarius

August 21, 2015

Board of Directors [Aquarius Condo. Association]

At this time we have one or more Board members taking it upon themselves to attempt to collect some of the outstanding delinquent amounts from residents that are past due. If they should be successful at this it would save the Association and Building considerable funds. If they make any mistakes in performing this task it would also make the Association and Building liable for their mistakes in doing so.

The Association Board Members have the right to perform the collection of outstanding funds. They must also acquaint themselves with the Federal and Florida rules governing the collection of funds from residents. There are specific practices that must be followed to ensure that all procedures have been addressed properly and any actions taken meet the requirements. Even just one case not handled properly would be more costly with liability issues than we would save.

The Board should also advise our insurance carrier that they may be performing these collection duties to make sure our liability insurance will cover those attempting this.

AJ Mitchell, Apt. 606-S

______________________________________________

Second Letter of AJ Mitchel to the Board of Directors of Aquarius

August 26, 2015

To: Board of Directors

Subject: Aquarius Condominium Association Delinquency Collection Procedure

In reviewing this document outlining the procedures for collecting delinquent funds would like clarification on several issues.

Delinquencies started as of June 10, 2015 for the current assessment. There were several
residents already with delinquent amounts from prior assessments or maintenance. Do the past due dates and penalties on those residents start as of the June 10th date or will they start after the new Procedures are accepted at a Board meeting? Actually this seems like an undue delay as collection procedures and penalties are already outlined in 718 and in our Documents.

In reviewing the dates for sending letters by the Association and or Attorney when you add up all the dates for a payment due on August 1st and considered past due on August 10th will not actually be sent back to the Board for approval to move forward with a lien or foreclosure until December 10th or later. Sounds like an Attorney wrote this Delinquency Procedure without consideration that the Association needs to collect funds in a timely manner and be able to move forward quickly before the debt for the resident concerned is too high for them to pay. Attorney’s are really only interested in their fees and not in moving quickly for the best interests of the Building.

There is one point in this Document under Item 6 that if there is no resolution after all this time  the Attorney will send a request to the Board for permission to move forward in the collection procedure. Why would this be needed, sounds like another delay when the Attorney should be moving forward against any and all that are past due. With this procedure in this new Delinquency Procedure now has the appearance that an amount due on August 1st will not go to lien or foreclosure until after January 1st at the earliest.

[I] Would appreciate a response explaining this Delinquency Procedure and how it came to be.

AJ Mitchell, Apt. 606-S

 

.o0o.o0o.o0o.

Advertisements
This entry was posted in Board of Directors, Construction & 40 Year Inspection, Finance and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s