Your Annual Assessment is due on January 1st of each year and is considered late if not postmarked by March 1st. This money funds your HOA for the entire year covering all administrative expenses, common grounds and tree maintenance, legal fees, and insurance. To see where your money goes, see the budget above or attend one our monthly Board meetings.
The amount of each year's assessment is determined at the November Board Meeting and the notices go out on December 15th to the address on record for each homeowner.
We send out second notices to unpaid accounts in early March. After May 1, delinquent accounts are sent to the lawyer for collection.
The HOA's Declaration of Covenants states that the maximum annual assessment may be increased each year not more than 5% above the maximum assessment for the previous year without a vote of the membership. Each year at the November board meeting, the Board of Directors determines the assessment for the next year. In some instances, the Board may decide not to charge the maximum assessment, but to round it down to an even dollar amount. However, the next year, when the new assessment is calculated, the maximum assessment is used for the calculation, not necessarily the amount that was charged for the assessment. For example, if the maximum allowable assessment is $100.28, the Board may charge only $100 for the annual assessment. But next year, when the new assessment is calculated, the 5% increased is calculated from $100.28, the maximum assessment. Click HERE to see a worksheet of annual assessments.
I lost my assessment notice. How do I pay my bill?
You may send in your payment without your notice. Just send a check to FRHOA Assessments, PO Box 493, Sterling, VA 20164-0493 and be sure that your Forest Ridge property address is on the check or included in a note along with a method of contact, email address or phone number. The amount that is due for each year is listed on the website or you may call or email us to find out the amount due.
My notice says I owe more than the annual assessment amount. Why?
Your notice will list the annual assessment amount and your past due balance. Past-due balances include any unpaid annual assessments, late fees and legal fees.. To keep your account current, you must pay the entire balance due. If you do not understand your past-due balance amount please email us at firstname.lastname@example.org.
My notice says I owe less than the assessment amount or shows a credit. Why?
If you had a credit balance when the annual assessment was applied to your account, you may owe less than the annual assessment amount. Credit balances occur when there is an overpayment of an annual assessment and occasionally, after home sales, title companies overpay dues balances. If you have questions about your credit balance, please email us at email@example.com.
My Forest Ridge property is rented. How will I get my assessment notice?
If you rent out your home it is your responsibility to ensure that the HOA has your proper mailing address and contact information. If we do not know your home is rented, or that you live elsewhere, the notice will be sent to the Forest Ridge property. If your assessment is late or delinquent because we did not have your correct mailing address, all late fees and legal fees will be your responsibility. To update your information, email us at firstname.lastname@example.org.
How do I know if you received my payment?
If you provide an email address, you will be emailed a payment confirmation when your payment is processed. Processing is still a very manual and time-consuming process and we appreciate your patience. No payments are processed until after January 1st and, by then, we usually have a couple of hundred to process so that will take some time. If you paid before January 1st, please give us until mid January to complete the processing of your payment. If you have not received your confirmation by then, please email us at email@example.com to be certain your payment was received. If you submitted your payment after January 1st, please allow about two weeks for processing. If you have not provided an email address for a payment confirmation, your cancelled check is your confirmation. If your check has not been deposited within the time frame mentioned above, please email us at firstname.lastname@example.org.
When will my assessment payment check be cashed?
We cannot deposit any checks until after January 1st. So if you make your payment in December, it may be 3 weeks before it is cashed. After January 1st, we try to make deposits every two weeks through the end of February. After February, we make one deposit each month.
I sent in my payment but received a second notice. What happened?
If you received a second notice after you sent in your payment, please contact us right away. Mistakes happen and we want to resolve any errors before delinquent accounts are sent to the lawyer for collection. After second notices, the HOA makes no further contact with the homeowner until accounts are sent to the lawyer for collection. So please do not ignore your second notice.
I forgot to pay my assessment this year and it is now late February. What do I do to avoid collection fees?
The HOA normally send accounts to collection sometime after May 1st. If you have not yet received a notice from our lawyer, send in your payment right away. If we receive the payment before the lawyer has charged any fees, we can cancel the action with the lawyer. If legal fees have already been assessed on your account, we will notify you of the additional amount due. If you have questions or concerns, please email us at email@example.com.
What happens if I sell my house in the middle of the year?
According to the HOA's Covenants, Article V, Section 1, states that, "Each such assessment, together with interest, costs and reasonable attorney's fees, shall also be the personal obligation of the person who was the owner of such property at the time when the assessment fell due." Based on this, the full assessment is the legal responsibility of the property owner on Jan 1st of that year. You and your real estate agent may make arrangements with the new buyers to be reimbursed at settlement for a portion of the year's assessment, but that is between you and your buyer.