Your association uses PNC's bank software to provide each house with a quarterly invoice and a electronic method to pay each invoice. Each whole owner and the management company for the co-owner homes is urged to use the electronic payment system where possible. Quarterly dues payments may be mailed to the address on the invoice rather than using the electronic invoice. The advantages for using the electronic system for dues payment are:
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1. For each home:
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Process is quick and easy for each home, no stamps, envelops, or mailing needed for quarterly payments.
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Helps keep your association dues low by reducing labor cost for processing your quarterly payments.
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2. For the your association:
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No mail to handle ( no trips to the post office, no deposit slips and trips to the bank to deposit checks, no manual record keeping)
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Your payments are automatically posted to your invoice record as having been paid and your payment is put in the association's bank account.
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PNC's system provides an electronic record of all transaction as opposed to having to keep manual records.
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Cuts costs by eliminating labor required to process payments and maintain records.
E-mail invoices are sent to each whole house owner and to the management company for the co-owner homes 4 weeks prior to the quarterly due date. Dues payments are late if received after the first working day after the due date. A late penalty of $20.00 dollars is applied to an owner whose dues are received 30 days after the due date. When a payment is over 30 days after the due date, your association will start the process for placing a lien on the homes property.
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