2024 Fees and Policies Overview
Most of the information on this page can be found in our published PDF that can be downloaded from here. This page contains additional information that is not in the PDF, such as the links to our PayPal and Venmo accounts. NOTE: PayPal and Venmo information will be added shortly.
The 2024 budget and the 2023 Profit & Loss can be viewed in this published PDF document.
Unfortunately, this year the fees had to be increased to keep up with increased costs and expenses. But new for this year, we are offering two different discounts that can total up to $15 off. Please see the details about the discounts because they have their limitations, and the $10 discount expires soon. Hopefully you can take advantage of both discounts.
The HOA Board has tried to be transparent with everything related to the HOA Fees, available discounts, and their related policies. As such these policies may be verbose, but are similar in detail and complexity as compared to older policies. By providing as much information as we can, we hope to demystify how these topics will be handled.
See information below about:
- HOA Fees Information for 2024
- Alternative Payment Methods
- A Warning about the usage of PayPal and Venmo
- Paying with QuickBooks Merchant Portal:
- credit cards, debit cards, Apple Pay, ACH (bank transfers), and others.
- Quick Payment QR Code Links
- Paying with Venmo
- Paying with PayPal
- Cash or Check Payment Direction
- HOA Drop Box for Fees and other Documents
- Discount: $10 for paying with Cash or Check
- Discount: $5 for updating Contact Information
- Late Fee: $25
- Late Fee Interest Rate: Prime plus 2% Compounded Annually
- Processing and Submitting Liens in 2024
Ross Estates HOA
2024 Fees Information and Policies
Direct all questions to: [email protected]
Website: https://rossestatesohio.com
To claim the $5 discount, provide an update to your contact information including an email address:
http://updateContactInfo.rossestatesohio.com
2024 HOA Fees: $170.00
Due date: February 15, 2024
Late Fee: $25
Interest Rate: Prime + 2% compounded yearly
$10 Discount: When paying in full with Cash or Check, by the due date. Limited time. No exceptions.
$5 Discount: When providing an update to your contact information, and providing your email address.
Acceptable forms of payment: Cash, Check, PayPal, Venmo, and credit cards. Electronic payments can be made through QuickBook’s merchant portal by using the URL provided from the invoices sent by email.
Please note that at any time, a homeowner can reach out to any board member requesting help with payments, setting up a payment schedule, or indicating they are experiencing a hardship, etc. Reaching out to a HOA Board Member, along with setting up a payment plan, will put a halt to the addition of new late fees and liens. Failure to follow through will result in reapplying any late fees, interest, and/or liens, that were put on hold.
Please see the detailed information on these items for full terms and conditions.
Alternative Payment Methods
When paying by the QuickBooks Merchant Portal, Venmo, PayPal, or another service that subtracts their service fees from the amount paid, the amount paid will be credited as paid in full, considering the non-discounted 2024 HOA Fee amount of $170 was paid, or $165 if eligible for the $5 discount (you must first receive an email for the credit memo). The difference between what is paid and what is received, will be waived so the received amount will be considered paid in full. The amount waived cannot exceed $10, and it can only match the charged service fees, plus any other fees charged to the HOA while processing the transaction. Failure to pay the correct amount will result in still being liable for the difference.
For information on how to pay by PayPal or Venmo, please see next few sections. The way the fees are handled for PayPal and Venmo, is the same way the fees will be handled for the QB Merchant Portal so please review either PayPal or Venmo to better understand how the transaction will work.
A Warning about the usage of PayPal and Venmo
It needs to be made perfectly clear that although the PayPal and Venmo accounts are business accounts tied to Ross Estates HOA, the rules and regulations that both PayPal and Venmo imposes on these business accounts means that I, being Scott Tabar, am personally held fiscally and criminally liable if anything related to these accounts violates the PayPal and/or Venmo, and/or the US Government's polices and laws. It's also my personal credit ratings that are on the line too, not to mention my personal Venmo and PayPal accounts are also at risk of being frozen or terminated.
The opportunity to pay with PayPal and/or Venmo is a privilege, and not a right.
Therefore, the existence of these accounts are based upon my good will to be used in good faith in accordance with the aforesaid policies and laws. If I choose to shut them down, delete them, or reject any transactions, and/or refund any attempted use of these accounts that I feel may violate the rules and regulations that are imposed by Venmo and/or PayPal, of which may put me at risk of harm, then the Ross Estates HOA will have ZERO say in the actions I must take to protect my assets.
Therefore, the only valid payments that can be made through Venmo and PayPal are the 2024 fees and also the 2024 late fees. Any other payments related to pre-2024 charges and fees violates PayPal's and Venmo's policies, therefore they will not be accepted unless you check with me first. Payments will be refunded if any amount that is paid is related to a non-2024 fees and charges. I also reserve the right to block individual accounts if they present a farther risk to the HOA Business Accounts, or may put me at risk of harm. I also reserve the right to approve payments that includes pre-2024 amounts, but you need to check with me first. Thank you!
All other policies on this page have been voted on unanimously by the HOA Board, except for the use of PayPal and Venmo, because I alone am held liable, they do not have a legal right to force me to allow transaction that may violate Venmo and/or PayPal polices, that may in turn put me at risk of harm. I think this personally stinks, because the business accounts are setup with the corporate entity's EINs and bank accounts, but their policies also force ONE PERSON (me) to be held fiscally and criminally responsible for all activities that go through these accounts.
If you do not like that fact that PayPal and Venmo are both forcing me to protect myself, I'm sorry about that, but all I can say is to please find some other form of payment, and do not use PayPal or Venmo.
Paying with the QuickBooks Merchant Portal
The only way you can access the QuickBooks Merchant Portal, is by clicking on the link that will be included in the invoice that is sent to your email account. Paying with the Merchant Portal, will give you an option to pay with any credit card, ApplyPay, or direct transfer from your bank (ACH). The transaction fees for these payments will be charged to the HOA and will be covered 100% so you don't have to worry about them.
If you were mailed an invoice, and you want to pay with the QuickBooks Merchant Portal, then you need to update your contact information and provide at least one email address. Updating your contact information will result in a $5 discount being applied to your invoice, and the updated invoice will be emailed to you. You will then have a link within the email to pay your invoice with the QuickBooks Merchant Portal.
It should be noted that if paying through the QuickBooks Merchant Portal, using Apply Pay, or various credit cards, there will be a transaction fee charged and take out of the payment amount prior to the merchant portal transferring the funds to the RE HOA. Please see the sections under Paying with Venmo and Paying with PayPal, because the merchant portal will be handled exactly the same way. All methods of payments under the QB Merchant portal have service fees that they take out of the original payment amount, just like PayPal and Venmo, therefore you cannot take the $10 discount since that will automatically be used to cover any service fees imposed by the QB Merchant Portal.
In order to use the QuickBooks Merchant Portal, you have to click the link in your invoice's email, of which implies that you received the $5 discount for updating your contact information. Therefore, the invoice amount that you will pay through the QuickBooks Merchant Portal will always be for $165, and never $170.
Paying with Venmo
Only 2024 HOA Fees, or 2024 Late Fees can be paid with Venmo. Any charges that originated in 2023, or earlier cannot be paid through Venmo. I may approve exceptions, but please check with me first. Thank you!
Ross Estates HOA, Inc. Venmo ID: @RossEstatesHOA
Ross Estates HOA, Inc. Venmo webpage and QR Code:
https://account.venmo.com/u/RossEstatesHOA
When paying with Venmo, the only discount that you can use is the $5 Discount for Updating your Contact Information. This discount does not expire and can be used at any time. It is preferred that you claim the discount prior to paying with Venmo to ensure you will be credited for the discount. You will receive an email with the attached Credit Memo to confirm you have it. If you first pay with Venmo, then please claim the discount as soon as you can so we can ensure you get the discount.
When paying with Venmo, the amount that you need to pay is $170 without any discounts. With the $5 discount, the payment amount will be $165. If you make a payment to Venmo for less than $165, or you did not earn the $5 discount, then you will be liable for the difference and that outstanding balance may be eligible for a $25 late fee.
You will be credited for the amount that you pay Venmo. The service fees that Venmo will take out of the payment amount, prior to passing the payment on to the Ross Estates HOA, will be treated as a discount to ensure your account is paid in full. The maximum amount of fees that will be covered, is $10. That includes fees that Venmo may take before paying Ross Estates HOA, and will include any fees Venmo may charge to transfer funds to our bank account, if any.
Example, you pay $165 because you are claiming the $5 discount. If you received a email receipt for the $5 credit memo, then that discount will automatically apply when processing your payment. Then let's say Venmo takes $6.73 as a transaction fee and gives the RE HOA only $158.27. Then when the HOA transfers that amount to their bank account, if Venmo charges a 2% transfer fee, which would be $3.17 on the amount of $158.27, then the total fees take out of the original payment would be a total of $9.90. Your account will be recorded as paid in full with the original 2024 HOA Fees of $170 because a credit memo of $5 will be applied, and another credit memo for $9.90 would be generated for you too. So your total discounts that you will receive through Venmo will effectively be $14.90. This is why you cannot take the other $10 discount, because it will be given to you automatically to cover all fees tied to the Venmo transactions.
Paying with PayPal
Only 2024 HOA Fees, or 2024 Late Fees can be paid with PayPal. Any charges that originated in 2023, or earlier cannot be paid through PayPal. I may approve exceptions, but please check with me first. Thank you!
Ross Estates HOA, Inc. PayPal ID:
https://www.paypal.com/paypalme/my/profile
Ross Estates HOA's PayPal.me
When paying with PayPal, the only discount that you can use is the $5 Discount for Updating your Contact Information. This discount does not expire and can be used at any time. It is preferred that you claim the discount prior to paying with PayPal to ensure you will be credited for the discount. You will receive an email with the attached Credit Memo to confirm you have it. If you first pay with PayPal, then please claim the discount as soon as you can so we can ensure you get the discount.
When paying with PayPal, the amount that you need to pay is $170 without any discounts. With the $5 discount, the payment amount will be $165. If you make a payment to PayPal for less than $165, or you did not earn the $5 discount, then you will be liable for the difference and that outstanding balance may be eligible for a $25 late fee.
You will be credited for the amount that you pay PayPal. The service fees that PayPal will take out of the payment amount, prior to passing the payment on to the Ross Estates HOA, will be treated as a discount to ensure your account is paid in full. The maximum amount of fees that will be covered, is $10. That includes fees that PayPal may take before paying Ross Estates HOA, and will include any fees PayPal may charge to transfer funds to our bank account, if any.
Example, you pay $165 because you are claiming the $5 discount. If you received a email receipt for the $5 credit memo, then that discount will automatically apply when processing your payment. Then let's say PayPal takes $6.73 as a transaction fee and gives the RE HOA only $158.27. Then when the HOA transfers that amount to their bank account, if PayPal charges a 2% transfer fee, which would be $3.17 on the amount of $158.27, then the total fees take out of the original payment would be a total of $9.90. Your account will be recorded as paid in full with the original 2024 HOA Fees of $170 because a credit memo of $5 will be applied, and another credit memo for $9.90 would be generated for you too. So your total discounts that you will receive through PayPal will effectively be $14.90. This is why you cannot take the other $10 discount, because it will be given to you automatically to cover all fees tied to the PayPal transactions.
Cash or Check Payment Directions
When paying by Cash or Check, you have a couple of options on sending us your payment. You can mail it to the HOA’s PO BOX, or drop them off at the HOA’s drop box. We suggest that cash should not be sent through the mail.
Please make checks payable to, and send to the attention of:
Ross Estates HOA PO BOX 14 Ross, OH 45061
The HOA’s drop box is located at the following address, mounted to the garage frame closest to the street. On the inside of the lid are directions on how to notify the treasurer when making a deposit. If dropping off cash, it would be best to email the treasurer first so a receipt can be generated, otherwise one will be emailed if email address is on file.
1210 Pond Ridge Cir
HOA Drop Box for Fees and other Documents
As an alternative to mailing HOA Fees and other documents to our PO BOX, you may utilize the HOA Drop Box that is located at the HOA Treasurer's residence. Please do not use the USPS mail box along the road, there is a dedicated box intended for member usage 24/7 by the garage door.
The drop box is located at 1210 Pond Ridge Cir and is attached to the garage door pillar (not visible from the street). The box is a tan, locked box, There are instructions inside the lid on how to notify the treasurer when you make a payment, or drop off a document, if desired.
Use of the drop box will help expedite getting documents to the board of directors 24/7. There are instructions inside the lid on how to notify the treasurer of deposits so they can be processed right away, even after hours.
Please include your name, address, and method of contact such as email or phone number. If you would like a confirmation, or a receipt, and it will be sent one as soon as the documents are retrieved.
Please note that if we have your email address on file, and if you are making a payment, you will be emailed a receipt as soon as your payment is processed. To provide updates to your contact information visit http:updateContactInfo.rossestatesohio.com and also receive a $5 discount to be applied to the next payment.
Discount: $10 for paying with Cash or Check
All discounts are limited and have restrictions. It is possible, and highly encouraged to take advantage of both discounts.
The $10 Discount only applies when paying in full by Cash or Check, and by the due date. No exceptions. The discount will be applied upon receipt of the payment by the treasurer.
If at risk of missing the due date, it would be best use the HOA’s drop box.
Discount: $5 for Updating Contact Info
http://updateContactInfo.rossestatesohio.com
The $5 discount will apply when updating your Contact Information with one or more valid email addresses using the specified Google forms for Updating Contact Information. The limitation for this discount is that you must fill out the form, and you must provide one or more valid email addresses. The offer of this discount will not expire. The $5 discount will be applied manually by the treasurer as a credit memo, and a receipt will be sent by email. This discount can be applied at any time, even if there is an outstanding balance. If there is an outstanding balance, the credit memo will be applied to the oldest balance first.
Providing an email address is consent to be contacted through email by any members of the HOA board, and to receive invoices and reports by email too. Communications may include, but not limited to invoicing, billing, payment confirmation, newsletters, information about events going on in the neighborhood, etc. The HOA may setup a mailing list to facilitate bulk mailings to all members. The HOA will not share any email addresses with other neighbors, contractors, or other 3rd parties, except through conducting official HOA business, such as establishing a mailing list.
If the homeowner does not respond to email inquiries, the HOA reserves the right to fallback to sending communications through the contact/billing address on file. The HOA is not responsible for incorrect email addresses that are provided. If an error is discovered, you can update your contact information, including updates to the email address. You can withdraw your email address from usage at any time by updating your contact information through the google forms, plus you should also email the HOA treasurer to ensure that the removal is processed within QuickBooks. If a credit memo is issued, and then if consent to using email addresses is revoked, the credit memo may be terminated/reversed.
Once the contact information has been entered into QuickBooks, a credit memo will be generated as a $5 discount/credit and a receipt will be sent by email. If paying by check, or by cash, the payment amount can be reduced by $5 as long as you fill out the Google form before payment is received and processed. A receipt for payment will be sent by email.
If you apply for the discount after payment has been made, then the credit memo will remain active until a charge is applied to the account, such as next year's fees. The HOA will not issue a refund on any credits, unless you are moving out of the neighborhood and closing your account, then a check will be mailed to the billing address on file. Requests for termination can be made through the Google forms Update Contact Information and selecting "leaving the neighborhood" for the question "reason for this update”. Also, email the HOA treasurer to ensure the updates are applied and the check is generated on time.
The $5 discount can only be used once per homeowner per address. New homeowners to the community can also receive a $5 discount to be applied to their next invoice.
Late Fee: $25
The due date for the 2024 HOA Fees is Feb 15, 2024, and the Late Fees is $25.
It should be clearly noted that this late fee can be halted/waived if the homeowner reaches out to any board member requesting help, informs us they are going through hard-times, or needs to spread out the payments by setting up a payment schedule. If the amount due cannot be paid in full, then the HOA Board may require a signed contract (digitally signed as permitted by Ohio and Federal laws) enumerating the requirements of mutually agreed upon payment schedule and terms.
If there is a risk of missing the due date, it would be best to contact a Board Member to waive the risk of a late fee, interest, or liens.
The HOA Board is willing to be flexible if that could provide help.
Late Fee Interest Rate: Prime plus 2%
The Late Fee Interest Rate is compounded yearly, and shall be applied upon the due date of the current fiscal year. Late fee interest rates should be applied, in accordance to the HOA bylaws and the State of Ohio’s Revised Code, to any balance that remains from prior fiscal years: invoices, late fees and interest, lawyer fees, lien fees, and any other charges that have been incurred. The Late Fee Interest Rate doesn’t apply to the current fiscal year’s HOA Fees or the Late Fee since the penalty would have already been applied or waived.
The interest rate shall be based upon the published US Prime Interest Rate on the current fiscal year’s due date (see above), plus 2% (two percent), compounded annually. It should be recognized that the Feds will vote on changes of the interest rate on January 31st, 2024 so rate for 2024 cannot currently be set.
For reference, the Feds set the rate is 8.50 percent on Nov 1, 2023.
The formula that will be used to calculate the interest is based upon the standard formula for compounding interest:
A=P[1+r/n)nt
Where: P= unpaid balance, r=(prime + 2%), n=1 (compounding periods per year), t= 1 year
Processing and Submitting Liens in 2024
About 2 weeks after the due date for the 2024 HOA fees, processing will begin to identify outstanding balances that will be submitted to our lawyers for Liens.
Eligible accounts for Liens will be all accounts that had an Late Fee Interest Rate applied. The list will be handed over to the Lawyer for processing liens. All charges and expenses related to processing the Lien, including, but not limited to, any lawyer fees, cost of sending letters by the lawyers, cost of filing each lien, cost of lien removal, and etc, will be added to the Lien amount, as permitted by the HOA bylaws and Ohio Laws. Once charges and expenses are incurred, and/or once the HOA is liable for them, they will become un-waivable. The Lien process may be cancellable prior to filing the lein, but all expenses and costs incurred up to that point, and related to terminating the Lien, will become liable for the homeowner to pay with no exceptions.
It should be clearly noted that at any time, a homeowner can reach out to any board member requesting help with payments, setting up a payment schedule, or indicating they are experiencing a hardship (as covered above) and that act itself, along with setting up a repayment plan, will put a halt to the addition of any new late feels or liens. Failure to follow through will result in the lien process being resumed and may incur additional expenses.