General Explanations and Information
Payments have been made but are not credited to account:
To resolve, please provide copies of cleared checks (front & back), and/or copy of bank statements verifying payments made but not referenced on your account balance report.
Late interest charges:
Late interest charges will accrue daily on unpaid assessment balances. These charges are assessed pursuant to your association declaration, bylaws, and Section 718.116 and 720.3085, Florida Statute.
Monthly Administrative late fees:
These fees are charged monthly when a delinquent account balance exists. Fee will be assessed pursuant to your association declaration, bylaws, and Sections 718.116 and 720.3085, Florida Statute. The statutory amount is equal to the greater of a) $25 per month, or b) 5% of monthly assessment.
Notice to Owners of a delinquent account balance & late charge assessments:
Pursuant to the association declaration, bylaws, and Section 718.116 and 720.3085, Florida Statute, there are no notices required before late interest charges or administrative late fees are charged, the Owners notice of such was acknowledged by taking ownership subject to their association documents.
Notice to Owner before a claim of lien is filed:
Pursuant to the association declaration, bylaws, and Section 718.116 and 720.3085, Florida Statutes, a claim of lien can be filed on a delinquent account when it is more then 30-days, or 45-days in the case of a homeowners' association, past due and no specific notice to Owner is required. This was acknowledged by Owners when they took ownership subject to their association documents.
Posting Dates of payments made:
Delinquent owners were mailed notices clearly stating that all payments should be sent to Business Law Group, P.A. (BLG). When payments are received by BLG, they are posted to owner accounts. Payments sent to your association will typically take additional time to post because they need to be endorsed by Association, re-mailed, and received by BLG before they are posted to an account.
Assessments are stated as being delinquent after making assessment payments and/or partial payments:
Pursuant to your association declaration and Section 718.116(3) and 720.3085(3), Florida Statutes, past due assessments are the last to be credited from partial payment(s) received, assessments can often remain outstanding because of payments being credited to pay other account charges first.
Collection Cost Charges:
Pursuant to your condo declaration, by-laws, and Florida Statutes, the Association has the right to charge the owner for costs of collection, including but not limited to attorney's fees, which are incident to the collection of assessments or enforcement of a lien for assessments. In the case of this Association, Business Law Group P.A., (“BLG”) has been retained to assist in lien and collection efforts. BLG’s expenses are passed through to Owner’s account balance as they are incurred.
Additional legal charges associated with owners hiring attorney:
Business Law Group (BLG) charges flat fees for collection, lien filing, foreclosure actions, and costs. However, in the event an association Owner does hire an attorney to negotiate unwarranted payoffs and/or invalid claims, the Association may add time charges to such Owner’s account for BLG’s time charges for dealing with the Owner’s attorney. BLG’s additional time charges accrue at approximately $250 per hour and will be Owners responsibility to pay per association declaration, by-laws, and Sections 718.116(5) and 720.3085, Florida Statutes.
Lien for Assessments & Foreclosure actions
Pursuant to association declaration, by-laws, and Sections 718.116 and 720.3085, Florida Statutes; an Association is entitled to take specific actions which are incident to the collection of delinquent assessments and enforcement of claim of liens. In connection with the failure to pay any Assessment, the Association shall have all of the rights and remedies provided for by the the association's declaration and Florida Statute, specifically including a lien upon the property relating back to the date of the recording of Declaration; the right to record a notice of lien in the public records of the County; and the right to foreclose the lien in accordance with the Laws of Florida. The Association may also bring an action to recover a monetary judgment for unpaid Assessments without waiving any claim of lien.
Payoff & Lien Dollar Amounts are greater than delinquent Assessments owed:
Pursuant to condo declaration, bylaws and Sections 718.116 and 720.3085, Florida Statutes, an Association’s payoff balance and/or lien for unpaid Assessments shall also incur interest, costs of collection, administrative late fees, and reasonable attorneys’ fees, including but not limited to attorneys’ fees incurred by the Association prior to litigation and during litigation or any appellate or bankruptcy proceedings, which are incident to the collection of such Assessment or enforcement of a lien.
Acceleration of all assessments due and payable for fiscal year:
Pursuant to your association declaration, by-laws, and Sections 718.116 and 720.3085, Florida Statutes, a delinquent owners assessments can be accelerated and deemed due and payable for the balance of the fiscal year. Upon being served notice that an account has been accelerated there is a 15-day grace period to pay accelerated balances due. After the 15-day grace period has expired for payment of the accelerated balance, late interest will accrue and administrative late fees will be charged to the owner on all accelerated months.