25 residents fail to pay annual dues; accounts turned over for collection
As of June 3, about two dozen Eagle Nest residents failed to pay
their annual dues on time (the deadline was May 1, late after June 1).
That is a recent all-time high, despite the fact that the 2014 dues were
reduced to $350 for the third consecutive year and residents were first
notified of the amount due in January.
It's worth noting that reminder letters were mailed to about 50 homeowners as of May 1 in hopes of nudging residents to meet the deadline. Unfortunately, 25 lots went unpaid by the deadline, and those accounts are in the process of being turned over to our lawyer for collection, per the Board's responsibility to protect the neighborhood's financial interests. Once in the hands of our attorney, the ENPOA Board no longer controls delinquent accounts.
As a result, these residents lose the $40 one-time credit the rest of the neighborhood has enjoyed the past three years, and a $50 late fee has been added, per our Controlling Documents. Bottomline: Collection accounts will owe $440, plus legal collection costs. Accounts sent for collection also lose neighborhood privileges (i.e. no pool access, no clubhouse access or rental, etc.) until the balance is satisfied with our law firm.
These delinquent accounts currently total more than $8,000 in budgeted revenue, money the Board and its constituents -- you, the homeowners -- count on to maintain our assets and avoid an interruption of services. Without adequate funds to operate, the Board may not be able to offer credits next year and cancel or delay some budgeted improvements. The Board hopes it doesn't have to come to that, of course. (For perspective, a total of five homeowners went unpaid in 2013.)
Suffice to say, no one wants to pay higher dues or lose the benefits that have made Eagle Nest one of the city's most desirable neighborhoods. The Board will work hard to find solutions for the temporary shortfall and devise ways to mitigate potential effects. Your patience and understanding is appreciated.
-- Submitted by Scott Thien
It's worth noting that reminder letters were mailed to about 50 homeowners as of May 1 in hopes of nudging residents to meet the deadline. Unfortunately, 25 lots went unpaid by the deadline, and those accounts are in the process of being turned over to our lawyer for collection, per the Board's responsibility to protect the neighborhood's financial interests. Once in the hands of our attorney, the ENPOA Board no longer controls delinquent accounts.
As a result, these residents lose the $40 one-time credit the rest of the neighborhood has enjoyed the past three years, and a $50 late fee has been added, per our Controlling Documents. Bottomline: Collection accounts will owe $440, plus legal collection costs. Accounts sent for collection also lose neighborhood privileges (i.e. no pool access, no clubhouse access or rental, etc.) until the balance is satisfied with our law firm.
These delinquent accounts currently total more than $8,000 in budgeted revenue, money the Board and its constituents -- you, the homeowners -- count on to maintain our assets and avoid an interruption of services. Without adequate funds to operate, the Board may not be able to offer credits next year and cancel or delay some budgeted improvements. The Board hopes it doesn't have to come to that, of course. (For perspective, a total of five homeowners went unpaid in 2013.)
Suffice to say, no one wants to pay higher dues or lose the benefits that have made Eagle Nest one of the city's most desirable neighborhoods. The Board will work hard to find solutions for the temporary shortfall and devise ways to mitigate potential effects. Your patience and understanding is appreciated.
-- Submitted by Scott Thien
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