Commonly called ‘dues.’ Upon purchasing a home in Nepenthe, the homeowner agrees to pay all assessments. Assessments are necessary to fund the operation of the Association and maintenance of the property. They are set by the Board every fall, and homeowners are notified in December of the following year’s assessment. Some find it convenient to pre-pay for three, six or even twelve months. Payments should be mailed to FirstService Residential provided post office box rather than delivered to the office. FirstService Residential also offers an automatic payment service which pulls the assessment from your specified checking account every month on the same date.
If the assessment is not paid by the 15th of the month, there is a $10 late fee. If assessments are seriously delinquent, the Association may place a lien on the property and, in extreme cases, foreclose on the property. If you anticipate trouble making payments, call the office at (916) 929-8380 or utilize the easy-to-fill out form found here to try to work out a payment plan and protect your credit rating. The Collection Policy can be accessed here.
Special assessments may be enacted by the Board or by a vote of the homeowners at any time to pay for repair and maintenance of the common area. Except in emergencies, the Board may approve a special assessment no greater than five percent of the current year’s budgeted expenses. Higher assessments must be approved by homeowners, with at least a majority of members (296 of 590) participating in the election.