How to Read Your HOA Statement

CAP Management and your HOA strive to keep you informed and keep the HOA’s delinquency rate low. One of the most important tools we use to achieve this is your monthly statement. Your statement has all the information you need to stay ahead of late fees and to make your payments consistently and on time. Now, one would think that a statement is a simple document, when in fact there is a lot of information presented in it, and this can get confusing. So to help you out, we have provided a quick overview of the various parts of your Statement, and what it all means.

Your Monthly HOA Statement

Your statement will include the monthly balance due and shows a brief history of the recent charges and payments on your account. If it looks like a charge has not been properly applied, please call or email our accounting department. You can also check your account status at cap.cincwebaxis.com. Many discrepancies stem from the mailed statement crossing with your payment, so be sure to look at the Invoice Date on the statement. Any activity after the invoice date will not show until the following month’s statement.

Another item to be aware of is the Late Fee warning, which we put on every statement. This generally shows on the payment stub and has 2 entries – one labelled “After this Date” and “Late Fee Charge.” The dates and charge amounts are pulled directly from your community’s SB100 Policies which outlines due dates and late fee charges, along with any associated interest that the Association is empowered to collect. However, a late fee will not be charged if the payment is received before that date. And no late fees are assessed in previous billing cycles unless they show in the history portion of the statement. These line items are not assessing you any fees, they are simply making you aware of the policies in place in your community with regards to late payments.