HOA Assessments are billed quarterly and are due the 1st day of January, April, July, and October. Generally, the association assessment consists of two parts, an amount to cover current year operations and an amount that goes into reserves. Part of the fee is designated to pay for current year operations, which typically includes things such as landscaping, pool maintenance, insurance and water. The remaining portion of the fee is placed into reserves for long-term repairs and replacements, such as paying for a new roof for the community center or future amenities. Having ample reserves ensures that the HOA has money available to pay for high-cost repairs when they come due.
WHAT ARE ASSESSMENTS?
Assessments are the “Regular Annual Assessments, Special Assessments, Service Area Assessments, Special Common Area Assessments, Individual Assessments and other assessments payable to the Association.” – Declaration of Covenants, Conditions and Restrictions, Article 1.1.
WHAT IS THE PURPOSE OF ASSESSMENTS?
The Association will use Assessments to enhance the Community, including the maintenance of improvements to, and operations of, real and personal property, management and operation of the Association, and any expense reasonably related to the purposes for which the Community was developed. – Declaration of Covenants, Conditions and Restrictions, Article 5.1.
AM I OBLIGED TO PAY ASSESSMENTS TO THE ASSOCIATION?
Yes. By accepting title to a Lot, each Owner covenants and agrees to pay all Assessments authorized in the Governance Documents. – Declaration of Covenants, Conditions and Restrictions, Article 5.1.b.
WHEN ARE ASSESSMENTS DUE?
Assessments are billed quarterly and are due the 1st day of January, April, July, and October. Late fees and collection charges are assessed 30 days after the due date.
HOW DO I PAY ASSESSMENTS?
We offer 3 ways to submit your quarterly assessment payments:
- Check/Bill Pay/Money Orders: Make the payment payable to “The Groves CAI” and include your account number. The remittance address for the mailed payment is: PO Box 105515, Atlanta, GA 30348-5515.
- E-Check or Credit Card: Visit the Pacific West Bank website to make payments using a credit card or e-check. Payments made by credit card are subject to a transaction fee. There are no fees when paying by e-check.
- Direct Debit: Recommended as a “set it and forget it” option. This service is available at no additional cost. Complete the Authorization For Direct Debit form, and mail it to 8360 E Via de Ventura, Ste 100 Bldg L Scottsdale, Arizona 85258, with a “voided” check. You may also email the form and a copy of a voided check to firstname.lastname@example.org or fax the information to 480-921-7564.
I DON’T WANT TO RECEIVE A PAPER STATEMENT, IS THERE AN E-STATEMENT OPTION?
Yes! To enroll in e-statements, submit a request here. Once you have submitted your request, you will receive an activation email. You will need to open the email in order to activate your account. Do not use dashes or spaces when inputting your account number, the property address is the street number only, no street name. For more information, click to view the registration guide.
WHERE CAN I FIND MY ACCOUNT NUMBER?
Your account number will be located on the first billing statement you receive, or you can contact your Management Team at 832-777-0400 30 days after you close on your home.