Collections Policy
The following procedures represent Raft Island's policies for all collections. They are based
on guidelines established by Resolution under RIIA Bylaws and CC&R's. The purpose of
this posting is to give the board and the membership a predictable outline of what to
expect. During some point in the process, it is hoped that the lot owner will voluntarily
settle with the Association and avoid the time and expense of collection actions.
Note: Payment negotiations must be initiated by the lot owner (contact Island Manager)
and are limited to the current fiscal year only.  Please email the Island Manager or call
(253) 265-1818 for more information. 



APPROVED POLICIES

 

  1. Annual assessments become due on JULY 1st of EACH YEAR.. 
  2. Assessments are considered DELINQUENT IF NOT PAID BY SEPTEMBER 1st of each year.
  3. Interest shall be charged on all delinquent accounts at a rate of 12% per annum.
  4. A late fee of $10.00 per month shall also be charged on delinquent accounts.
  5. If on NOVEMBER 1st, (ninety days delinquency), the assessment remains unpaid and the owner makes no attempt at arranging payments,  the Association will send NOTICE OF INTENT TO LIEN to the owner(s)' last known address via certified mail.
  6. If no payment is received within thirty days of the mailing of the Notice of Intent to Lien, a lien will be recorded against the property and the owner(s) thereof.  All fees and costs associated with recording the lien will be added to the total delinquent amount secured by the lien and are at the homeowner's expense. The lien shall have perpetual existence until the assessments are paid and will include late fees and interest that continue to accrue.
  7. The association may proceed to take any and all additional enforcement remedies including: turning the account over to collections or taking legal action to collect the assessment.
  8. The Association may recover all reasonable costs incurred in collecting any delinquent assessment, including reasonable attorney's fees.   Any costs and attorney's fees arising will be at the homeowner's expense.
  9. The Association may, for good cause and at its sole discretion, agree to a payment plan, which permits payment of the delinquent assessments(s), late charges, interest and other related collection costs.
  10. All payments received by the Association, regardless of the amount paid, will be directed to the oldest assessment balances first, until such time as all the assessment balances are paid, and then to late charges, interest and costs of collection unless otherwise specified by written agreement.
  11. There will be a $25.00 NSF charge for bounced checks or Automated Clearing House (ACH) debits that are returned for insufficient funds.
  12. All notices will be mailed to the owner(s) at the last mailing address provided in writing to the Association by such owner(s).
  13. The mailing address for payment of assessments is:  Raft Island Improvement Association, c/o HOA Community Solutions,  5500 Olympic Drive, D-105 PMB #234 -  Gig Harbor WA 98335