Sycamore Landing

What Sycamore Landing's governing documents say

Sycamore Landing is a homeowners association (HOA) in Colleyville, TX. This document is the Association's Assessment Collection Policy, adopted by the Board on July 25, 2022. It establishes procedures for collecting regular and special assessments from homeowners, including late fees, interest, payment plans, and collection actions. This policy does not contain the community's full covenants, conditions, and restrictions (CC&Rs) and does not cover rules on pets, architectural controls, or other typical HOA topics.

• Delinquency, late fees & interest: Assessments are delinquent if not paid by the due date. The Association may charge late fees and interest at the highest rate allowed by law. The Board can waive fees, late charges, and interest only by majority vote.
• Payment plans: The Association must offer a payment plan to delinquent owners with a minimum term of 3 months and a maximum of 18 months. Administrative costs and interest may be charged.
• Collection procedures: Collection steps include sending delinquency notices, ordering title searches, reporting to credit bureaus, recording liens, and potentially referring the account to an attorney. The owner is liable for all collection costs, including attorney fees.
• Application of payments: Payments received after a delinquency notice are applied in a specific order: delinquent assessments first, then current assessments, attorney fees, fines, and other amounts. Partial payments may be refused.
• Lien and credit reporting: The Association may record a lien against the property and report delinquent owners to credit bureaus. Full payment will result in a release of lien and notification to the credit bureau.
• Suspension of amenities: The Board may suspend a delinquent owner's (or tenant's) use of common area amenities if the account is delinquent for at least 30 days.
• What this document doesn't cover: This policy addresses only assessment collection. It does not include other HOA rules such as pet restrictions, architectural guidelines, parking rules, or age restrictions. Those are found in the community's Declaration of Covenants, Conditions, and Restrictions (CC&Rs).

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.