Late Fee Policy
HOA fees for each year are due by October 31 of the following year
📌 Example:
Fees for 2025 must be paid by October 31, 2026.
⏳ Grace Period
A one-month grace period is provided. Payments made by November 30 will not be charged interest.
⚠️ Late Payments & Interest
Any unpaid balance after November 30 will begin accruing interest starting December 1.
Interest is charged monthly at a rate of Prime + 5% per year, as outlined in the Encumbrance.
📂 Long-Term Arrears
Accounts that remain unpaid for three (3) years or more may be sent to a solicitor for collection.
Any legal or collection costs will be added to the homeowner’s account, and a lien may be registered against the property title.
🏡 Selling Your Property
If you are selling your home, all outstanding HOA fees, interest, and any legal costs must be paid before the sale can be completed.
✅ Avoid Extra Charges
To avoid interest and additional costs, please ensure your HOA fees are paid on time.