HOA lien for payment one week overdue

[Derek Carroll]

My HOA on an investment property is threatening to put a lien on my property if future dues as late at all. Even one week or one day. Can they legally do this? They are also threatening to stop water and trash removal to the property. I currently have tenants there. I can pay on time but I forget and this is at the low end of my reminder priorities. Are they blowing smoke or can they really do this?

[Michael B.]

Don't know how quickly then can do it in NY, but HOA's have been pretty stretched by non payers in the last few years. They have to provide basic services to all tenants (lawn and building maintenance, etc.) even when some aren't paying. Training people to pay on time every time is part of the HOA DNA now. And absentee landlords are frequently late or non paying.

So the obvious solution is to pay on time. Being a successful investor is getting the small things right with little effort. Move it up the priority list. You expect your tenant to keep the rent at the top of the priority list; keep the HOA payment at the top of yours.