NOTICE OF REGULAR ASSESSMENT

[ASSOCIATION NAME]

[ASSOCIATION NAME]
[ASSOCIATION ADDRESS]
[CITY, STATE ZIP]
[PHONE]
[EMAIL]
[WEBSITE]

Date: [DATE]

To: All Owners and Members

Re: Regular Assessment for Fiscal Year [YEAR]

Dear Homeowner:

The Board of Directors of [ASSOCIATION NAME] has adopted the annual budget for fiscal year [YEAR] and established the Regular Assessment as set forth below. This notice provides important information about your assessment obligations for the upcoming year.

REGULAR ASSESSMENT AMOUNT

Fiscal Year: [START DATE] through [END DATE]

YOUR ASSESSMENT

Property Address: [PROPERTY ADDRESS]
Lot/Unit Number: [LOT/UNIT NUMBER]
Owner Name(s): [OWNER NAME(S)]
Account Number: [ACCOUNT NUMBER]

PAYMENT SCHEDULE

[SELECT APPLICABLE SCHEDULE:]

Monthly Payment Schedule

Quarterly Payment Schedule

PAYMENT METHODS

Automatic Payment (Recommended)

Set up automatic bank draft (ACH) for worry-free payments:
☐ Complete the enclosed ACH Authorization Form
☐ Enroll online at [WEBSITE]
☐ Contact [PHONE] for assistance

Benefits of Auto-Pay:
- Never miss a payment
- Avoid late fees
- Convenient and secure
- Cancel anytime with [30] days notice

Online Payment

Pay online at: [WEBSITE]
- Create an account with your Account Number
- Pay by credit card, debit card, or bank transfer
- View payment history and account balance
- [Note: Convenience fee of $[AMOUNT] may apply for credit card payments]

Check Payment

Make checks payable to: [ASSOCIATION NAME]

Mail to:
[ASSOCIATION NAME]
[PAYMENT ADDRESS]
[CITY, STATE ZIP]

Include on your check:
- Account Number: [ACCOUNT NUMBER]
- Property Address: [PROPERTY ADDRESS]

Bill Pay

Use your bank's online bill pay service with:
- Payee: [ASSOCIATION NAME]
- Address: [PAYMENT ADDRESS]
- Account Number: [ACCOUNT NUMBER]

In-Person Payment

[IF APPLICABLE]
[LOCATION]
[ADDRESS]
[HOURS]

ASSESSMENT CHANGE FROM PRIOR YEAR

Reason for Change:
[EXPLANATION OF REASONS FOR INCREASE/DECREASE - e.g., increased insurance premiums, reserve funding requirements, utility cost increases, new amenities, etc.]

[// GUIDANCE: California Civil Code 5605 limits assessment increases to 20% without member approval. Check state-specific limitations on assessment increases.]

HOW YOUR ASSESSMENT IS USED

Your assessment funds the following community services and expenses:

Operating Expenses

Reserve Contributions

Total Budget

RESERVE FUND STATUS

[// GUIDANCE: California Civil Code 5300 requires specific reserve disclosures. Many states require reserve studies and disclosures. Include this information as required by state law.]

Current Reserve Fund Balance: $[AMOUNT] (as of [DATE])

Projected Year-End Balance: $[AMOUNT]

Reserve Funding Status:
☐ Fully funded (100%+ of recommended reserves)
☐ Adequately funded ([70-99]% of recommended reserves)
☐ Underfunded (below [70]% of recommended reserves)

Most Recent Reserve Study Date: [DATE]

Major Reserve Projects Planned:

DELINQUENCY AND COLLECTION POLICY

Late Fees

Assessments not received by the due date are subject to:
- Late Fee: $[AMOUNT] or [X]% of unpaid amount, whichever is [greater/lesser]
- Grace Period: [X] days from due date

Interest

Delinquent assessments accrue interest at [X]% per annum.

Collection Process

The Association's collection policy includes the following steps:

1. [30] days past due: Late fee assessed; reminder notice sent
2. [60] days past due: Second notice; demand letter sent
3. [90] days past due: Account may be referred to collections; lien may be filed
4. [120+] days past due: Legal action may commence; foreclosure proceedings may begin

Additional Consequences of Delinquency

• Suspension of voting rights
• Suspension of Common Area privileges
• Reporting to credit bureaus
• Responsibility for all collection costs, including attorney's fees

[// GUIDANCE: California Civil Code 5650-5675 requires specific pre-lien notices and IDR opportunity. Texas Property Code 209.0094 requires two notices before filing a lien. Review state-specific collection procedures.]

PAYMENT PLAN AVAILABILITY

If you are experiencing financial hardship, you may be eligible for a payment plan. Contact [CONTACT NAME] at [PHONE] or [EMAIL] to discuss options.

Payment plans are subject to:
☐ Completion of a payment plan application
☐ Approval by the Association
☐ Automatic forfeiture upon missed payment

DISCOUNTS AND PREPAYMENT

[IF APPLICABLE]

☐ Prepayment Discount: Pay the full annual assessment by [DATE] and receive a [X]% discount ($[AMOUNT] savings).

☐ Auto-Pay Discount: Enroll in automatic payments and receive a [X]% discount.

☐ Senior Discount: Homeowners age [65+] may qualify for a reduced assessment. Contact [CONTACT] for eligibility requirements.

BUDGET RATIFICATION MEETING

[IF APPLICABLE - Some states allow members to reject the budget]

A meeting to ratify the [YEAR] budget will be held:

Date: [DATE]
Time: [TIME]
Location: [LOCATION]

Members present or voting by proxy/ballot representing a majority of the voting power may reject the proposed budget. If the budget is rejected, the prior year's budget shall remain in effect until a new budget is adopted.

IMPORTANT NOTICES

Assessment Obligation

The obligation to pay assessments is established by the Declaration of Covenants, Conditions and Restrictions recorded against your property. Assessments are a personal obligation of the Owner and create a lien against the property.

Lien Rights

Unpaid assessments, together with interest, late charges, costs of collection, and attorney's fees, constitute a lien against the Owner's Lot pursuant to the Declaration and applicable state law.

Change of Address

If your mailing address has changed, please notify the Association immediately to ensure you receive all notices and invoices.

Tenants

If your property is tenant-occupied, you remain responsible for payment of all assessments. Please do not forward invoices to tenants without also retaining responsibility for payment.

Sale of Property

If you sell your property, you are responsible for all assessments through the date of closing. Please contact the Association to request a closing statement or estoppel certificate.

BUDGET AND FINANCIAL DOCUMENTS

The following documents are available upon request:
☐ Adopted Annual Budget
☐ Year-End Financial Statements
☐ Reserve Study Summary
☐ Collection Policy
☐ Assessment and Reserve Funding Disclosure Summary

To request documents:
- Email: [EMAIL]
- Phone: [PHONE]
- Website: [URL]

[// GUIDANCE: California Civil Code 5300 requires annual distribution of specific documents. Ensure all required disclosures are provided.]

CONTACT INFORMATION

For payment questions:
[MANAGEMENT COMPANY / ACCOUNTING CONTACT]
Phone: [PHONE]
Email: [EMAIL]

For general questions:
[ASSOCIATION NAME]
[MANAGEMENT COMPANY]
[ADDRESS]
Phone: [PHONE]
Email: [EMAIL]
Website: [WEBSITE]

Office Hours: [HOURS]

ENCLOSURES

☐ Payment coupons for [YEAR]
☐ ACH Authorization Form
☐ Assessment and Reserve Funding Disclosure Summary (if required)
☐ Annual Budget Summary
☐ Return envelope

Sincerely,

[ASSOCIATION NAME]
Board of Directors

______________________________
[NAME]
[TITLE - e.g., President, Treasurer]

Date: ______________________________

DETACH AND RETURN WITH PAYMENT

[ASSOCIATION NAME]
Payment Coupon

Account Number: [ACCOUNT NUMBER]
Property Address: [PROPERTY ADDRESS]
Owner: [OWNER NAME]

Payment Due Date: [DATE]
Amount Due: $[AMOUNT]
Late After: [DATE]
Amount if Late: $[AMOUNT]

Amount Enclosed: $____________

Make checks payable to: [ASSOCIATION NAME]
Mail to: [PAYMENT ADDRESS]

[// GUIDANCE:
1. Distribute assessment notices with annual budget as required by state law.
2. California requires distribution 30-90 days before fiscal year begins.
3. Include all disclosures required by applicable state statutes.
4. Maintain proof of mailing/delivery for all owners.
5. Update payment coupon books or online payment systems with new amounts.
6. Ensure assessment amounts comply with any approval requirements for increases.]

End of Document