The annual maintenance fee is determined each year by the Tanglewood Homes Association (“THA”) board of directors in connection with approval of the annual budget. For 2017, the annual maintenance fee is $1350 per lot. On or about December 1 of each year, invoices for annual maintenance fees are mailed to property owners. Maintenance fees are payable in advance and are delinquent after January 31. A late fee of .5% per month (6% annually) is charged on all unpaid balances after January 31.
For the period 1999-2013, THA has collected 100% of the annual maintenance fees billed to property owners. It is anticipated that THA will achieve 100% collection of the 2014, 2015, and 2016 maintenance fees in 2017. Property owners who have not paid their annual maintenance fees will receive a letter from the THA board extending an invitation to appear before the board to explain why the annual maintenance fee has not been paid. If the maintenance fee is not paid subsequently by the date stipulated by the board, it has the right to engage an attorney to file suit against the property owner. Should an attorney be engaged to collect the annual maintenance fee, the property owner will be liable not only for the annual maintenance fee, but also for attorney’s fees as well, which can be as much or more than the annual maintenance fee. The Board will aggressively pursue collection action against any property owner whose account becomes delinquent to meet its stated goal of collecting 100% of the maintenance fees in the year for which they are assessed.
THA maintains a first or prior-lien position to secure collection of its annual maintenance fee. THA will not subordinate its first-lien position. However, upon request and as an accommodation, THA will issue a letter agreeing to give notice of non-payment of the maintenance fee to the lender 60 days prior to its pursuing legal remedies against any delinquent property owner.
In connection with the sale, refinance, or equity loan, THA charges a $100 fee for supplying requested information to the title company, updating owner and lender information in THA’s property owner database, and issuing 60-day letters. This fee typically is collected by the title company and remitted to THA as part of the closing.
Many contracts to sell property now require the seller to provide a Resale Certificate to the Purchaser because all property in Tanglewood is subject to mandatory membership in THA. When requested by the property owner or his/her agent, the requisite information required by the resale certificate will be provided upon receipt of a $250 fee paid by the property owner or his/her agent. In lieu of providing the Resale Certificate and accompanying documents, THA will allow the purchaser to review all of the requisite documents in the THA office during normal working hours at no charge.