Skip to main content

Who get to keep the late fee of assessment from our HOA? The management company or those late fees stay in our operating acct?

Fountain Valley, CA |

We are having trouble with our HOA the financial statements, when we are looking in the general ledger saw the homeowners paid the late charges but the management company cut the check out to them for the late charges that they received from our homeowners.

+ Read More

Attorney answers 1


In theory, the late fees initially belong to the HOA. But the HOA could have signed an agreement with the management company to pay the late fee, or some portion of the late fee, to the management company for their services in collecting delinquent assessments. You would need to review the management agreement to confirm whether or not the management company is acting in accord withthe contract with the HOA.

This answer is for general purposes only, and it does not create an attorney-client relationship.



Thank you so much.

Real estate topics

Recommended articles about Real estate

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer