Legal Question in Landlord & Tenant Law in Virginia

Legality of Late Fee on Assessments
To cover needed repairs in 2009, the community manager of our condos has assessed each unit a total of $1K @ $125 mthly installments for 8 mths; payment coupons were addressed and issued to each unit/owner. These coupons reflect a possible late fee of $25 on each coupon if paid after the 15th of each month. The notice sent to each unit/owner states that the amount may be paid in the lump sum of $1K or these set monthly installments. Is this late fee applicable/legal if the amount may be paid in lump sum or coupons by choice. Per the notice, coupon payments begin in Jan 09 and are monthly until paid in full in the 8th month. Can the lump sum be paid within the 8 months (by 15 Aug 09) without legal penalty? Our regular condo fee was increased as of Oct 08; adding this additional monthly fee of $125 with a possible $25 late penalty only brings undue hardship on many unit owners. We would sincerely appreciate your expedited response to our questions. Thanks in advance for your responsiveness during this time of economic hardship.

Asked on 1/21/09, 10:29 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: Legality of Late Fee on Assessments

If the special assessment and late fees described in the question are in accordance with the bylaws of the condo association, then they are legal.

Answered on 1/22/09, 10:18 pm

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