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Understanding Your Bill

Home/Homeowners/Understanding Your Bill
Understanding Your BillSkyler Nelson2020-08-13T08:42:03-05:00
  • Pay Assessments
  • How to Get a Payment Plan
  • Dispute a Charge
  • Understanding Your Bill
  • What are HOA Dues?
  • Pay Assessments
  • How to Get a Payment Plan
  • Dispute a Charge
  • Understanding Your Bill
  • What are HOA Dues?

Meet Bill! Click on bills’ sections to get detailed information about each area.
It’s our goal to provide you with informative and detailed information that helps make your statement easier to understand. High five!

Association Name

Provides the homeowner’s association name and the physical mailing address of the local office.

Mailing Address

Includes your homeowner account number and mailing address. If you need to make changes to your mailing address, please send an email, including your account number, to [email protected]

Charges

Portion of the bill that describes what the charges are being billed for. Below you will find some definitions for many of the terms that may be found on your statement.

Charges

Assessment - The amount owed by the property owner that contributes to the upkeep of the association. This may include maintenance and utilities for common areas, insurance, repairs and replacements, administrative functions (bookkeeping, taxes, management, etc.), landscape maintenance, community events, and entrance signs and/or monuments.
Delinquent Interest - If the assessment is not paid by the due date, the assessment may bear interest from the due date at the rate set forth in the governing documents of the association until the assessments is paid in full.
Administrative Fee - Fee charged for the work performed by the management company to manage the past-due account. This charge may be a monthly charge, depending on the amount of time the account is past due.
Previous Balance - Past due amount that has not been paid from earlier statements.
Hand Delivery Charge - Past due statement that is hand-delivered to homeowner via courier or Fed Ex, depending on the delivery area.
Escalated Property Processing Fee - Fee charged for searches completed for looking for all listed owners of property, any pending bankruptcies, or active litigation.
Statutory Notice - Fee charged for review of account, pulling of balance forward information, digital storage, and generation of regular and certified notice.

Important

Look for important messages regarding your account balance or messages from the HOA in this area.

Remittance Stub

Return this portion with your payment to the payment processing center. Payments can be placed in the return envelope received with your assessment statement. Check or money order payments should be made payable to the association and mailed to Spectrum Association Management, P.O. Box 299008, Lewisville, TX 75029. Please do not send cash.

Account Number

Have you account number available when referencing your account.

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