Collection Policy for Quarterly Associations

To be effective, a collection policy must:
1. Be consistent from Month to Month
2. Be applied fairly to all owners

All assessment payments are due that first day of the month. The date of the late fee will be determined by the CC&Rs and/or by the Board of Directors. If an assessment has not reached the management office by the date, a late fee will be added to the account in accordance to the Association’s CC&Rs and specific Guidelines.
To meet this criteria, the following policy and procedures are implemented by PMG Services:

1. 1st Day of the First Month

1. Assessment Due
2. 15th Day of the First Month 2. Late Fee added to Account.
A Late Statement is sent to the owner indicating the assessment and late fee.
3. 30th Day of the First Month (30 Days) 3. Intent to Lien notice sent both Certified and Regular Mail. 10 days to pay.
4. 10th Day of the 2nd Month (40 Days) 4. Lien is filed. A letter is sent to homeowner indicating the addition of the lien fee. Another 10 days to pay.
5. 21st Day of the 2nd Month (51 Days) 5. Account is sent to attorney for collection. All legal fees will be added to account.
Collection Policy for Monthly Associations

To be effective, a collection policy must:
1. Be consistent from Month to Month
2. Be applied fairly to all owners

All assessment payments are due that first day of the month. The date of the late fee will be determined by the CC&Rs and/or by the Board of Directors. If an assessment has not reached the management office by the date, a late fee will be added to the account in accordance to the Association’s CC&Rs and specific Guidelines.
To meet this criteria, the following policy and procedures are implemented by PMG Services:
1. 1st Day of the 1st Month

1. Assessment Due
2. 15th Day of the 1st Month 2. Late Fee added to Account.
A Late Statement is sent to the owner indicating the assessment and late fee.
3. 1st day of the 2nd month (30 Days) 3. Assessment Due
4. 15th Day of the 2nd Month (45 Days) 4. Second Late Fee added to Account
A Second Late statement is sent to the owner indicating the assessment and late fee.
5. 30th Day of the 2nd Month (60 Days) 5. Intent to Lien notice sent both Certified and Regular Mail. 10 days to pay.
6. 10th Day of the Third Month (70 days) 6. Lien is filed. A letter is sent to homeowner indicating the addition of the lien fee. Another 10 days to pay.
7. 21st Day of the 3rd Month (81 Days) 7. Account is sent to attorney for collection. All legal fees will be added to account