Monthly Assessment Late Charge is now 15 days after Due Date

The governing documents of the Association state that the due date for your monthly assessment is the 1st of the month, and payment is delinquent 15 days after its due date. This is stated in paragraph 7.12 of the CC&Rs. Until now, the Board of Directors chose not to levy the late charge until 30 days after the due date. However, at the November 2018 meeting, the Board voted to enforce the delinquency date specified in the CC&Rs. Starting January 1, 2019, late fees will be levied 15 days after the due date (on the 16th). The late charge is currently $5. Paragraph 7.12.2 does allow for an increase to the late charge, but none is planned at the moment.