How much is a late payment?

A:

Fees and charges related to late payments vary by community since each community’s governing documents have different penalties. Most associations carry a late fee, usually a percentage of the assessment, and delinquent interest, which is calculated and added each month the payment is delinquent.

Each community also charges an administrative fee for the costs related to recovering delinquent amounts. For more information on late payments, visit our page here.