News
Fee Increases
Posted on May 26th, 2009
Please be advised that as of July 1, 2009, the late fee penalty imposed on accounts with delinquent maintenance balances will revert back to $50.00, which is the amount required by our Declaration of Covenants, Section 8.35 - Delinquent Assessments.
If your account has an outstanding balance as of July 1, 2009, a portion of your monthly common charges payment for July will be applied to first pay the outstanding balance, and a late fee of $50.00 will be imposed for the partial payment of the current month’s charges. For example, if your account has a $25 outstanding balance and you pay your monthly charges of $410 on July 1st, the first $25 will pay off the outstanding balance and you will be credited with a short payment of July’s assessment of $385, and a new late fee of $50 will be applied to your account.
Therefore, it would be in your best interest to bring your account completely up to date prior to July 1, 2009 in order to avoid an on-going $50.00 penalty and interest being applied to your account.
As an alternative to writing a check each month we offer direct Automated Clearinghouse Payments (ACH). ACH payment processing allows electronic processing of the credit and debit transactions. ACH payment processing offers a safer and a much more reliable way to make a recurring payment. In terms of security, the ACH network is governed by the National Automated Clearing House Associate (NACHA), this is the same network federal banks and government institutions use, this system is highly-reliable and secure.
ACH payment processing is an easy and safe payment option for homeowners as it is reliable and secure as well as more convenient than other payment method. Once you sign the agreement form, each month on the 4th business day of the month, your monthly common charges will be debited from your checking account. It will appear on your bank statement just like an ATM withdrawal. ACH payment processing provides varied benefits, which include:
• Cost Effective and Time Saving for You
• Convenient and Reliable
• Reduced Operating Cost for the HOA
• No Late Fee to Pay – Ever
• No Postage Necessary
• Improved Cash Management for Both Parties
• Protection for your Credit Rating
To sign up for ACH payment option, please go to our web site http://www.ridgewayatwhiteplains.org and see the Community Services Section on the homepage for details.
Thank you for your cooperation.