Assessment Collection

Assessment collection in the context of Homeowner Associations (HOAs) refers to the process through which associations collect fees from homeowners to fund maintenance, amenities, and community services. These fees, called assessments, are typically set annually and can vary based on the budget. If homeowners fail to pay their assessments, the HOA has the right to take action, which can include late fees, liens on the property, or even legal proceedings. Timely payment is crucial for the upkeep of shared areas and overall community well-being.