The Courthouse News Service reported on a story that really caught my attention. Evidently, the City of Atlanta Watershed (“Atlanta Watershed”) has threatened to shut off water to the 125-unit Villages of Cascade Homeowners Association (“Association”) as early as today if the Association does not pay 25% of an outstanding balance due for water supplied by the Atlanta Watershed.
The Association utilizes income from assessments to pay water fees for all of the units which are linked to a single water meter. Obviously, assessment income is also used to pay for all of the common expenses of the community. But get this – the Association reportedly has an assessment delinquency rate of 63%! While this economy has certainly taken a toll on the ability of some homeowners to pay their assessments in a timely manner, a 63% delinquency rate is astounding even for this economy. Continue Reading Failure to Budget Appropriately and Collect Delinquencies Has Major Consequences for HOA


