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VACATION OWNER ASSOCIATION
Maintenance Fees and Billing Options
The following is the Annual Assessment Billing and Collection policy. Payment is due upon receipt. Should you
not receive a bill, it does not relieve you of your responsibility for immediate payment. It is up to you to request a
duplicate bill if not received.
ANNUAL Billing Option
INSTALLMENT Option
If you choose the Annual Billing Option, your
homeowners assessments will be billed once.
If you choose the Installment Option, your homeowners
assessments will be billed in four (4) installments.
Due Date
January 1
Delinquency Date January 15
Final Notice
January 20
Interest accrues at 1% per month on any account that
falls delinquent.
• January 15 - $50 Reinstatement Fee
• January 15 - $25 Owner Privilege Blocking Fee
• January 20 - $180 Collection Fee
(See delinquency information below
for explanation of this fee.)
Once delinquent, in order to reinstate your
occupancy and voting rights, you must pay the billed
assessment, plus any other accrued charges, in full.
1
2
Due
January February
Dates
1
28
Delinquency January March
Dates
15
15
3
May
31
June
15
4
August
31
September
15
There will be a $5 fee per installment for owners who
choose the installment billing option. Interest accrues
at 1% per month on any account that falls delinquent.
• January 15
- $12.50 Reinstatement Fee
• March 15
- $12.50 Reinstatement Fee
• June 15
- $12.50 Reinstatement Fee
• September 15 - $12.50 Reinstatement Fee
We reserve the right to withdraw your installment
payment option should your payments not be made
in a timely manner.
If installment billing account becomes 60 days
delinquent, a $25 Owner Privilege blocking fee
as well as a $180 Collection Fee will be assessed.
DELINQUENCY Information
If you become delinquent, your ownership privileges may be blocked. This includes voting rights, use of your ownership
week, Bonus Time and ResortTime, banking and exchanging of your ownership week. Confirmed exchanges are
subject to cancellation. Should this action be taken, there is no guarantee of replacement reservations or exchange
of your current year’s ownership week.
Additional Action
The Board of Directors may, at its discretion, request any or all of the following actions:
1 Engagement of professional collection agency services
2 Recording of Claim of Assessment of Lien
3 Foreclosure of Claim of Assessment of Lien
4 Filing of Small Claims suit
Any related costs for the above will be added to the delinquent owner’s account.
Reinstatement
In order to reinstate your occupancy and voting rights, you must pay the billed assessment plus any other accrued
charges, in full.
NOTE: A $50 charge will be added to your owner’s account for any payment which is not honored.
VOA Maintenance Fee Billing
FREQUENTLY ASKED QUESTIONS
Q
Definition of VOA Maintenance Fee:
A
Your Maintenance Fee consists of Operating Assessments and Capital Reserves. The Operating
Assessment covers your seven days of vacation ownership. This covers the day-to-day operations of the
property including everything from staffing to landscaping to utility bills to regular maintenance, etc..
Capital Reserves are set aside to cover expenses outside of the day-to-day expenses. This portion of
your fee ensures that we will be able to refurbish and repair the resort facilities and maintain unit quality
for the life of the property.
Q
When is my VOA Maintenance Fee considered late?
A
We have provided your Assessment Billing and Collection Policy on the reverse side of this insert.
This will provide you with the billing schedules, as well as when late fees and interest are assessed.
Q
What are my options if I cannot pay in full at this time?
A
We encourage our owners to take advantage of our installment billing option. This allows you to
pay in 4 easy installments throughout the year. There is a $5 per installment fee for the use of this
installment option.
Q
Can I still deposit and/or exchange my week if I am on the installment billing option or
do my maintenance fees have to be prepaid?
A
We allow our Owners to deposit and/or exchange their vacation use week as long as all fees that have
Q
I paid cash for my ownership, do I still have to pay the annual maintenance fee?
A
Yes, the financing of your ownership is completely independent from your annual maintenance fees.
Q
What forms of payment do you accept for my maintenance fee payment?
A
Visa, Mastercard, Discover, American Express or Check payments can be made online at:
been billed are current.
The maintenance fees are used to support your association and to maintain your resort.
www.advancedfinco.com or by calling our toll free line listed on your billing. Checks or Money Orders
can be mailed in the enclosed payment envelope. Please be sure to list your account number which is
located on the upper left hand corner of your bill.