ASSESSMENT POLICY
The condominium association’s monthly assessments are DUE on the 1st of every month and are considered LATE after the 10th of the month. Late fees and interest will be charged to the owner’s account every month there is a balance due on the account.
When an account goes delinquent, an Owner will be notified, in writing, and receive a courtesy, 60-day, or 90-day past due notice from Sentry Management. After 90 days, the account is turned over to the Association Attorney and an Intent to Lien Notice will be sent.
If an owner is having financial difficulties, they should contact the Association Manager immediately to make a reasonable payment arrangement. The request for a payment consideration plan MUST be submitted in writing and include the amount, frequency and duration of the additional payments to be made in addition to the current assessment. The collection process will continue unless the owner contacts the Association Manager. Late fees and interest will still accrue even if a payment plan is accepted. However, making and abiding by a payment arrangement will hold the collection process of additional late notices, liens, and/or possible attorney action. If owners do not follow through with payment arrangements, the Accounting Department will proceed with the collection process.
Owners that have been turned over to the association’s attorney for collection must contact the attorney directly. Contact information can be found on the “CONTACT US“ page of this website. The Accounting Department cannot discuss your account with you once it has been sent to the attorney.
The collection process is STRICTLY enforced in order for Lakewood Park Condominium Association to meet its financial obligations.
2024 ASSESSMENT RATES Effective March 1st
The Alesford 649 sq. ft. $409.44
The Bershire II 704 sq. ft. $444.13
The Bershire I 712 sq. ft $449.18
The Coventry 866 sq. ft. $546.34
The Dover I 893 sq. ft. $563.37
The Dover II 926 sq. ft. $584.19