Are condo and HOA fees always due on the first of every month?

Posted on Wed, Dec 28, 2011 @ 08:59 AM

In North Carolina, our dues are due the first day of the month, late on the 1st day of the next month. Our Board is telling the homeowners there is a North Carolina law that states we can not collect late fees until the first day of the next month. Is that true? I recently purchased another condo in a different HOA and they start assessing late fees after the 15 of the month. Please advise, thank you.

Tags: Condo & HOA Assessments, Fees, Foreclosures, Delinquencies & Collections