Notice of Late Assessments and Change of Demand Letters

Today, I’m sharing some updates regarding the Notice of Late Assessments and the change of Demand Letters, which has gone from 30 days to 45 days

What if you’re midway through the collection process? Whatever you’ve done before the effective date of the statue (July 1, 2021) is fine. If you still aren’t sure, I share some more details and give examples regarding the new timeline in this video.

The new Notice of Late Assessment requires all condos, HOAs and co-ops to give one final opportunity to pay before sending a Demand Letter. The statute states that this Notice should only include assessments, late fees and interest. Associations are not able to leverage attorney fees prior to the 30-day expiration of the Notice of Late Assessment letter.