Dues & Collection Policies
HOA fees are dues that homeowners have to pay if they live within an HOA community. These dues are mandatory, so you’re not able to opt out of them. Your dues cover things like:
- Common area maintenance
- Legal services
- Insurance
- Electricity for common areas
- Irrigation systems
- Landscaping
Our dues are paid to and handled by our management company: Artemis Lifestyles.
2024 Collection Policies
Assessment & Fees
Assessment
$314
Due Quarterly
Late Fees
$25 or 5% of Assessment
Assessed 11th day after due date. An additional $10 administrative fee will be charged.
Interest
18% per annum
Assessed 30th day after due date.
Returned Payments
$35
Payments that are returned due to insufficient funds, canceled, and/or stopped payments by homeowners. THIS WILL NOT BE WAIVED
Payment Plans
Payment plans greater than 6 months require Board approval. (If the owner defaults, we will proceed with collections).
Interest & Late fees that Accrue During Plan WILL NOT BE WAIVED.
Collection Procedures
The following collection procedures shall be instituted when payments are delinquent.
Notice of Late Assessment
11th Day After Due Date
An administrative fee of $10.00 will be charged to the owner’s account.
Intent to Lien
30 Days After Late Notice
An administrative fee of $125.00 will be charged to the owner’s account)
Claim of Lien
45 Days After Intent to Lien
An administrative fee of $115.00 and an attorney fee of $60.00 will be charged to the owner's account.
Intent to Foreclose
Filed After Claim of Lien
An administrative fee of $110.00 and an attorney fee of $70.00 will be charged to the owner’s account.
Lien Foreclosure
45 Days After Intent is Filed
The file is transferred to the Attorney to initiate a Lien Foreclosure action if payment is not received by the Association before the expiration of the Intent to Foreclose. An administrative fee of $100.00 will be charged to the owner’s account.
2024 Collections Policy Adopted by Hanover Lakes Homeowners Association, Inc. Board of Directors by a unanimous Board Motion this day of January 2024.