1. A monthly charge will be levied on members to contribute to the costs of operating and managing the affairs and common property of the HOA. This charge is calculated from the estimate of income and expenses (Budget) of the HOA. The Directors can decide and adjust these charges from time to time as the requirements change.
2. These “Levies” shall be paid monthly and are due and payable in advance on the first working day of the current month and shall be considered as unpaid when the levy has not been paid on the second working day of that month.
Interest on Unpaid Accounts
3. Interest can be charged on an unpaid amount and billed to the debtor’s levy account at a rate determined by the Directors from time to time.
Procedure Unpaid Accounts
4a. Temporary Disabling Of Access Device: As a penalty measure, the Directors can approve the temporary disabling of access devices if the account is not paid up to date, or provided proof of
payment, by close of business of the 5th (fifth) working day after the due date. The member will be notified that the access will be disabled. Such member will only be allowed access to the Estate by completion and signing of the access control register. Access devices will be enabled 1 (one) working day after the outstanding account has been settled.
4b. 30 Days’ Unpaid Accounts: The member will receive a letter of demand, the cost of which will be charged to the member’s account. Interest on the unpaid amount will also be charged on a monthly basis from this date.
4c. 60 Days’ Unpaid Accounts: The Directors will hand levy accounts that are unpaid for 60 days after due date or longer, over for collection and all costs incurred will be recovered from the applicable member. The member shall be liable for and pay all legal costs, including costs such as between attorney and client, tracing costs, collection commission, expenses and charges incurred as prescribed by the Act(s) applicable to the profession of the collecting agency in obtaining the recovery of arrear levies, or any other arrear amounts due and owing by such member to the HOA.
Charges for Letters
5. The Directors may charge a fee for the issuing of letters of demand and other letters written on behalf of the Directors/HOA for the enforcement of the Rules of Conduct, the cost of which will, at the instruction of the Directors, be debited to the member’s levy account at a rate determined by the Board from time to time.
6. The directors will, over and above the ordinary levies, charge Project Levies to cover the expenses for Special Projects as approved by a general meeting of the HOA. The directors will at that time issue instructions as to the payment rules for these levies.
7. In the case of unforeseen circumstances or occurrences, the directors may, over and above the other levies, charge Special Levies to cover these expenses. The directors will at that time issue instructions as to the payment rules for these levies.