MPCA Explanation of Charges

Memorial Parkway Community Association Homeowner Account Charge Explanation

In an effort to clear up some confusion, the following information is being provided as a reference. It is not a replacement of the Association’s governing documents. Currently there are five types of charges that can be charged to a homeowner's account. Let’s take a look at each one.

1. Assessment: There are two types of assessments. First and most common charge is the Annual Assessment. The annual assessment for 2024 is $425. This was billed to all homeowner accounts in October but is not due until January 1 of each year. The second type of assessment is the Special Assessment, which can be assessed for capital improvements as outlined in the Association’s Declarations of Covenants, Conditions and Restrictions.
2. Interest of Past Due Assessments: The second type of charge a homeowner may incur is interest. According to the Declarations of Covenants, Conditions and Restrictions, any assessment not paid within 30 days after the due date shall bear interest from the due date at the rate of 10% interest per annum. This is charged to all past due assessments each month until the amount is fully paid.
3. Late Fee on Past Due Assessments: The third type of charge is a late fee, which like interest, is charged to an Owner’s account if they are past due paying an assessment. Late fees are also authorized under Section 204.010 of the Texas Property Code. The Billing, Payment Plan and Collection Procedures document further outlines the steps the Association follows to collect past due assessments. 
4. Demand Notice: The fourth type of charge a homeowner may incur on their account is the administrative charge associated with mailing demand letters or violation notices. The recovery of these fees is authorized under Section 204.010 of the Texas State Property Code.
5. Attorney Fees: The fifth type of charge a homeowner may incur on their account is for attorney fees. In the event a homeowner fails to pay their assessments or is otherwise in violation of the Association’s Declarations of Covenants, Conditions and Restrictions, the matter may be turned over to the Association’s attorney. In that event, the Association’s attorney fees will be charge to the homeowner as authorized by the Association’s Declarations of Covenants, Conditions and Restrictions as well as Section 5.006 and 209.0064 of the Texas Property Code.

The process that the Association follows for the collection of assessments and associated costs (late fees, interest and attorney fees), are generally found in Section 209.0064 and 209.008 of the Texas Property Code.

For additional clarity please refer to the chart below.