Dear Neighbors,
We would like to address some key information relating to Homeowner’s Associations Assessments that has come to light through our collaboration with the associations HOA attorney, Shannon Lang and Associates, as well as feedback from our members.
It has been brought to our attention that Texas imposes a statute of limitations of 4 years on Homeowner’s Associations Assessments. This means that the maximum amount legally owed for association dues is outlined as follows:
- $100 for 2021
- $100 for 2022
- $100 for 2023
- $250 for 2024
Resulting in a total of $550.
Historically, there has been a lackadaisical approach to enforcing dues, with reminders often being delayed, misdirected, or simply non-existent. Unfortunately, this has led to less than 30% of our members remaining current in their association dues payments.
Recognizing the unfair burden placed on a small percentage of members to cover the association’s expenses, the Board has taken decisive action to enhance enforcement efforts.
These actions include:
- Development, approval, and publication of a Collections and Payment Plan Policy on the Association’s website http://www.timbercresthoa.org/
- Implementation of a 15% late fee charge on unpaid dues, as specified in the 2003 deed restrictions (section 7.8)
- Creation, approval, and publication of Bylaws to address non-compliance by homeowners in contributing to the neighborhood’s maintenance.
In alignment with these changes, we will be issuing account statements for all homeowners, detailing transactions such as payments and late fees. To receive a copy of your statement via email, kindly provide us with your email address. It is essential for effective communication, opportunity for dialogue with the board, access to legal documents, and seamless transition between current and future boards.
For any queries or assistance regarding bringing your dues up to date, please do not hesitate to contact us at board@timbercrest.org. In addition, our member, Jae Frazer, has identified resources to assist with dues payment for any member seeking help, as detailed in our April Newsletter on the website.
Thank you for your continued support.
Todd Boring, Andy Moran and Melissa Walters
Timbercrest Board of Directors
board@timbercresthoa.org
