Your HOA relies upon the funds raised from owners to pay for maintenance of common property as well as repairs and replacement when necessary. They are levied through both ordinary dues and, when required, special assessments. The fees are based upon ownership entitlement (typically based on size and/or value) to be fair. When an owner does not pay, it is not as if the HOA is fine; it is reliant upon those funds. While an HOA may seem to lack compassion, they really must collect funds from each owner.

As a result, when an owner does not pay, penalties, liens and/or foreclosure may follow (check your state law to see what applies where you own). You may also face costs or penalties, so do you very best to stay current on payments.

Want to learn more about your HOA? Run a free Eli Report!