SLOA Annual Maintenance Fee Payment Policy
SLOA Annual Maintenance Fee Payment Policy
Every property that is a member of SLOA (Sunset Lakes Owners Association) is required to pay an Annual Maintenance Fee. This obligation was established at the creation of the SLOA community and is included in Community By-law No. 1 http://sunsetlakes.ca/owners-association-5/owners-association-3/owners-association-by-laws
This following document’s purpose is to describe the policies regarding the payment and processing of the SLOA Annual Maintenance Fee (further referred to as MF).
The following URL provides updated information on the current amount of fees, the methods and addresses for payment and the late payment penalties
- The MF is expected to be paid in full on or before the 1st of April of the year for which the payment is due, or as declared in the above web page.
- Payment can be made in the following ways: by e-transfer or cheque. The details and addresses are specified in the URL above.
- In the event of a late payment, a penalty will be charged as outlined in the current SLOA Maintenance Fee information page under the same URL above.
The only exception regarding the assessment of a late payment penalty fee is if the payment, when remitted by postal mail, is received after the April 1st deadline but postmarked PRIOR to that date. Provided that the letter is clearly postmarked with a date preceding the April 1st deadline, the payment will be considered as ‘received on time’ and no late payment penalty will be assessed.
In addition, any property that is in arrears regarding payment of the MF is considered “not in good standing” and will be denied the right to use the SLOA Facebook Group and SLOA common amenities such as the pool or tennis courts.
4.IMPORTANT
It is understood that it is the resident’s/homeowner’s responsibility to be cognizant of their obligation to remit the annual SLOA MF. The onus is on the resident/homeowner to ensure that their MF payment is remitted and received in a timely manner.
It is not the responsibility of the SLOA treasurer or SLOA board to either inform or remind residents about the need to remit the MF payment. Nor is it their responsibility to inform residents that their payment has been received and processed. The board is run by volunteers and does not have a capacity to perform this task.
Nevertheless the board will make every effort to send MF reminders to residents and to make the payment process as easy and convenient as practically possible. Note that residents who have chosen not to receive regular SLOA emails, or whose email address has been discontinued or is non-functional, will not be able to receive any reminders or notifications.
- Recommendations on how to avoid the late payment fee
First of all, if possible, choose to use e-transfer method of payment. You will be notified when your payment is deposited immediately automatically by the Bank processing system.
If you choose to pay by cheque:
once you mailed or delivered it to the designated address, please allow a reasonable time for processing and monitor your checking account for a withdrawal transaction. If a transaction has not occurred by the end of April, please write an email to the regular SLOA email account (sloa@rogers.com) to inquire if the check has been received. This way the treasurer will be notified about the delay and an appropriate action will be taken.
