Date March 30, 2007
To: Kenthill Townhomes Owners
From: The Board of Directors
Nancy LeMay, Property Manager
Re: Late Fee change reminder
Dear Kenthill Townhomes Homeowners:
In November of 2006, homeowners were mailed copies of the new, revised Rules & Regulations for Kenthill Townhomes. The following are excerpts from the cover letter which accompanied the new rules:
“At the October meeting, as defined by our new, revised Declarations and Bylaws, the Board passed a resolution enacting the new Rules and Regulations. In January of 2006, Kenthill Townhomes was behind approximately $9000 due to homeowners who were over 90 days delinquent in paying their homeowners dues. With each passing month, that figure began to grow at an ever increasing rate. In June and July, four homeowners finally sold their Units and moved on. But not until that figure had grown to an amazing amount of $22,000. The new, revised Declarations and Bylaws grant Kenthill Townhomes the power to raise the late fee for not paying homeowners dues on time from its present amount of $10 to $25. This should significantly address this ongoing problem of delinquencies which affects our Operating Budget so greatly. The new Rules and Regulations will take effect January 1, 2007. Until then, our current House Rules remain in effect and will continue to be enforced. Again, The Board would like to thank everyone for their assistance, input, and feedback during the past twelve months.”
The purpose of this letter to all homeowners is to remind everyone that the Late Fee charge has been changed from $10.00 to $25.00. As you may know the coupons were mailed before the new late fee came into effect so this new late fee is not reflected on your coupons. Although it is not reflected on your coupons the new $25.00 fee is in effect as of January 2007.
[If there are any questions, please contact our property manager, Nancy LeMay, at [XXXXXXXX] or at the numbers listed at the bottom of this notice.]
Sincerely,
The Kenthill Board of Directors
