Assessments & Payment Processing Fees Policy

Purpose:
The purpose of this policy is to establish guidelines for the handling of payment processing fees associated with online transactions through the Association’s management platform, PayHOA or other future management or financial software. This ensures fairness, transparency, and compliance with Florida law in connection with member assessments and other charges.

1. Authority

This policy is adopted pursuant to:

• §720.303(6), Fla. Stat. – Association powers regarding finances.

• §720.308, Fla. Stat. – Assessments and charges.

• §720.3085, Fla. Stat. – Obligation of members to pay assessments; application of payments.

The Board of Directors has authority to implement reasonable administrative procedures to collect assessments and pass through third-party processing fees to members.

2. Policy on Processing Fees

I. Payment Methods Available
Members may submit payments to the Association via the following methods:

• Credit or Debit Cards

• ACH Transfers

• Lockbox Payments (A.K.A. Mailed Payments)

The Association will not accept local payments for assessments/dues in person. Association volunteers are not authorized to handle cash or similar forms of payment from its members in person. This is for the security of the Association and its members. This rule does not apply to fundraising for special events or forums where fundraising or community sponsorship may be involved.

Note: Mailed payments should only be sent to the associations remittance address

II. Processing Fees

• Any fees imposed by PayHOA or its integrated payment processors for electronic payments shall be borne by the member electing to use that method.

• Typical fees may include:

          ACH/e-check: flat fee per transaction

          Credit/Debit Card: percentage of the transaction plus any processor surcharge

III. No Surcharge on Paper Payments

• Members who pay by check or money order mailed to the Association will not incur Association-imposed processing fees, although they remain responsible for any costs charged by their bank or mailing provider.

IV. Disclosure of Fees

• All fees will be disclosed within the PayHOA platform prior to payment submission so that members can make an informed choice.

V. Application of Payments

• Payments will be applied in accordance with §720.3085(3)(b), Fla. Stat., which requires that payments received be applied first to interest, then to late fees, then to attorney’s fees and costs, and lastly to assessments.

3. Responsibilities

• Association: Maintain accurate records of all payments received and ensure fees are disclosed in advance.

• Members: Choose their preferred payment method and assume responsibility for any related fees.

• Board of Directors: Review this policy annually to ensure fairness and compliance.

5. Effective Date

This policy shall take effect immediately ahead of the transition on December 31, 2025, to self-management upon adoption by the Board of Directors and shall remain in force until amended or rescinded by formal Board action.