Update from Homeowner Meeting
October 18, 2013 Email to Residents:
There were a couple of questions raised at the recent Homeowners Association Meeting that we wanted to be sure all residents knew about and had answers for. They are as follows:
1. Process for placing liens on property for delinquent dues – For 2013, homeowners received TWO notices that their dues are delinquent before they are notified that a lien will be placed on their property. The first notice is sent 2 days after the last payment is due (last payment due February 28, first notice sent March 1); the second notice is sent 20 days after the last payment is due (last payment is due February 28, second notice is sent March 20). The attorney is notified to place the lien on the property on March 30th and the lien includes a late fee of $70, interest at 18%, costs of collection and attorney fees. The actual date the lien is filed against the property of a delinquent homeowner depends on the attorney’s workload. This should be the same process that will be followed in 2014. If there are any changes, homeowners will be notified.
2. Reporting delinquent HOA dues to credit agencies: Once a homeowner has been sued and a judgment has been obtained against a homeowner, that information is picked up by the credit bureau and becomes a part of the homeowner’s credit history like any other judgment, credit card, loan, etc.
3. Legal Fees paid v. Dues collected by Dana Tucker Davis – The Board engaged Dana Tucker Davis in April, 2013 and her firm began their collection efforts in May, 2013. Our collections increased – our outstanding collections went from $253,140.08 in May, 2013 to $207,203.77 (as of 10/18/2013). Of the $45,936.31 in HOA dues collected from May, 2013 – October 18, 2013, the Tucker Davis law firm brought in $40,598.05. Their fees during that time period were $8,264.78. That is to be compared with what we paid to Dorough and Dorough in 2012 during a similar, but decreased time period (May – September 2012) $9,214.15 and what was collected during the same time frame – May – September, 2012 was $12,430.09 (October, 2012 financials are not available on the web).
Also, as indicated, Tucker Davis law firm is NOT just filing liens. They are filing lawsuits against current and former homeowners, attempting to locate bank accounts, employment and personal property to garnish in an effort to collect on all outstanding accounts even if the homeowner has moved.
4. 2014 Budget –All homeowners will receive a budget for 2014 (using actuals from 2013) that has been approved by the Board no later than December 1, 2013 –30 days prior to the date the first dues payment is due. Upon receipt of the budget, if you have questions, concerns, comments about the budget, please contact Suzy Ockleberry, Treasurer.
If you know any homeowner who is NOT on the email distribution list, send their email address to regencyhills@gmail.com. Also, let homeowners know that all email bulletins are posted on the website – www.regencyhillsatlanta.com.
Last, if you ever have any questions, comments, suggestions, or complaints about the subdivision, always feel free to contact a member of the Board of Directors. We are elected by you, here to serve the community and want to ensure that we are making decisions that are in the best interests of the community at all times.
