ASSESSMENT POLICY UPDATE
When you purchase property in Temelec, you encounter an obligation, (a contract) to pay monthly assessments for the cost of management and operation of our community. Our CC&R’s state assessments “shall be due and payable on the first of each month”. Periodically we have heard a homeowner whose property is on the market that they have been “advised” not to pay monthly assessments until the house sells or escrow closes. Non-payment of dues is a violation of the homeowners contract with the association.
Regarding delinquent assessments the CC&R’s state in part: “Any installment or other portion of an Assessment not received within fifteen (15) days after its due date shall be delinquent and, to the fullest extent permitted by law shall be subject to interest and late charges……”. I am currently in the process of bringing forward to the Board of Directors a policy update for consideration that will add interest and monthly fees to past due accounts. The policy will also clarify when past due accounts will be turned over to collections and also establish a time certain when liens will be levied on the property.
I would expect to have the policy update available for Board of Director consideration in time for the September meeting of the Board. The Board of Directors meetings are Open meetings and you are welcome and encouraged to attend and express your views.
Chief Financial Officer