Posted on Oct 4th, 2020
The amount of money owed to the Association continues to grow with several owners owing many years of member dues. Our dues are very modest, $30 per year, and in fairness to the majority of owners that pay faithfully each year, the SSOA Board of Directors is making an important change in our past due receivables policy:
Per the Silver Shekel Responsible Governance Policies, we will begin charging interest on unpaid balances beginning Jan 1, 2021. However, the SSOA Board made the decision to give all owners the opportunity to pay their outstanding HOA balances without incurring interest charges if paid in full by December 31, 2020.
Beginning January 1, 2021, interest will accrue at the rate of twenty-one percent (21%) per year on all unpaid balances.
Owners with outstanding balances will be receiving a past due statement during October. Please take this opportunity to avoid paying interest and bring your account up to date before December 31, 2020.