Monthly Fees

October 1, 2004 by
Filed under: #07: October 2004 

The expenses incurred by Riverbend each month are substantial. We receive invoices from our insurance company, our landscaper, our management company, paving contractors, lawyer and other assorted vendors. We depend upon the prompt payment of monthly fees in order to pay our bills in a timely manner. This ensures that our contractors will respond immediately to any emergency request we may have.

It is not in the covenants of River bend to assess homeowner fees that exceed our annual budget. In other words, we are not trying to run the association at a profit. We do not have a huge cash reserve to account for shortfalls. Granted, there is a long term reserve fund that is designated for the replacement of major property elements, such as driveways, sidewalks, landscaping elements, mail boxes, etc., but it is not our job to provide a ‘float’ for any homeowner that chooses to run late on paying the monthly fees.

When “deadbeat” homeowners do not pay their monthly fees, not only are they legally in violation of the agreement they signed when they bought the house, they are also asking their neighbors to cover their expenses. No one should have to pay more than their fair share. Nor should we incur additional costs and substantial legal fees pursuing these debts, but we will do whatever it takes to collect the fees.

In several cases, the association has aggressively filed liens against the property with the township. This prevents the sale of the home without the lien being first taken care of. We have been involved in foreclosure proceedings in the past, and are in court now foreclosing on a house in order to recover what we are entitled to.

People have used the excuse that they did not know that there is such a thing as the Riverbend Bylaws. For recent buyers, the seller and their attorney were responsible for providing you with a copy of those covenants at your closing. Many did not. The Board is now arranging to have copies made and distributed before the Annual Meeting.

The Board is not trying to be unreasonable during these economically challenging times, but we are homeowners as well. Like you, we do not want our monthly fees increasing because of nonpayment of fees by a neighbor. If there is a justifiable reason for late payment, bring it to the attention of the Board. We will consider alternatives, instead of putting our attorney “on the clock”. We’d rather spend the $200 an hour on something worthwhile.

We appreciate your cooperation.

October 2004 Newsletter Contents

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