HOA late fees interpretation [Condo] [CA]
This is the CC&R rule: “A late charge of $10.00 or ten percent (10%), whichever is greater, per each delinquent Assessment shall be payable with respect to each Assessment not paid within fifteen (15) days after the date of delinquency.”
Let’s assume the HOA assessment is $500 a month. They increase it to $550. I did not get a notice. My autopay continues to pay $500/month.
Edited: A late charge should be $10 or $55?
Thanks!