Don't forget to pay your annual dues!
Our CC&Rs state that annual assessments are due on January 1, and that assessments not paid by January 16 will be subject to a penalty of 10% per MONTH. Regarding late fees for condominiums, A.R.S. §33-1242 provides an association with the ability to impose late fees but does not limit the amount of late fees. As such, condominiums must look toward their CC&Rs to determine the amount of the late fee.
You may pay the entire amount ($690) on January 1, or you may pay half ($345) on January 1 and the other half ($345) on July 1 without penalty.
As an example, if you pay on February 1, the amount due is $379.50.
If you pay on March 1, the amount due is $417.45.
If you pay on April 1, the amount due is $459.20.
Payments 90 days late will be turned over to our attorney, and the Association will file a lien on your unit. Pursuant to A.R.S. §33-1256, the Association has two options to collect delinquent assessments:
You may pay the entire amount ($690) on January 1, or you may pay half ($345) on January 1 and the other half ($345) on July 1 without penalty.
As an example, if you pay on February 1, the amount due is $379.50.
If you pay on March 1, the amount due is $417.45.
If you pay on April 1, the amount due is $459.20.
Payments 90 days late will be turned over to our attorney, and the Association will file a lien on your unit. Pursuant to A.R.S. §33-1256, the Association has two options to collect delinquent assessments:
- Obtain a personal judgement against the owner;
- Foreclose the assessment lien on the unit.