Assessments – commonly known as HOA dues – are the lifeblood of any Homeowners and Condominium Association. Each association has different policies. This is why it’s wise to ask for a list of the HOA rules and regulations.
In general, these are some of the costs that can be covered by HOA or Condominium fees:
- City Services- Including services such as trash removal, water and sewage.
- Insurance for Common Areas – This only includes insurance for damage of the outside of the building and the property around it. You still need an individual insurance policy to cover everything inside of the condo.
- Amenities – including recreational areas such as your pool, tennis courts, and clubhouse.
- Lawn Care- This includes snow removal, gardening and general lawn maintenance.
- Pest Control- Most HOAs schedule a monthly inspection from a pest control company in order to avoid pest infestation.
- Maintenance and Repairs to the Outside of the Building – This includes things such as roof leaks, exterior painting, driveway pavement repairs, etc. It also covers the costs of gym or pool maintenance, if applicable.
Unfortunately, some owners don’t feel it’s their responsibility to pay levied assessments and, as a result, the Homeowners Association will be put in the unenviable position of having to engage in collection efforts against its own residents. While no HOA wants to be a debt collector, board members have a duty to act in the best interest of their community. In most cases this means that Board of directors have an obligation to make efforts to collect these unpaid assessments and, in appropriate circumstances, to foreclose its Assessment Lien against a delinquent homeowner.
A lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. In the context of Homeowners Associations, a Homeowner‘s obligation to pay Assessments levied by a Homeowners Association is typically secured by a lien (commonly referred to as an Assessment Lien) in favor of the Homeowners Association that attaches to each Lot or Unit in the applicable community. An Assessment Lien is essentially a contractual lien in favor of a Homeowners Association that is created by and reserved in the Declaration.
This lien can be secured through the Court Clerk of your County in Georgia. A Board Member can file on behalf of the Association. I do suggest using legal counsel in these situations, however. Many problems can arise if the subjected property is sold or foreclosed upon and for some reason the lien is not satisfied.
Assessment Liens are not to be taken lightly. This is a last resort before judicial foreclosure. This is another way that a professional management company in Atlanta would be able to assist you. We are here to provide insight and direction for the community.
For more information on how Beacon Management Services can assist your Homeowners Association or Condominium Association in the Atlanta area, please call: (404) 907-2112 or email Lisa Simmons at lsimmons@beaconmanagementservices.com. Our complete list of services is available at: www.beaconmanagementservices.com.
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