Palmas del Mar is a dreamy place to live and watch your family grow. It is a great place to have fun and enjoy a unique lifestyle in a very secure environment. Your annual assessments or dues are what sustains the Palmas del Mar homeowners’ master association’s (PHA) ability to support the attainment of our community objectives and to insure the continuation of much needed community programs and services. These programs and services include general community maintenance and landscaping, reforesting, beach cleaning, habitat conservation programs, road improvements, paving and repair of streets, illumination repair and services, community activities, security patrols and crime prevention, access control, camera surveillance, etc.
Over the years, your assessments have allowed for the construction of new community amenities and landmarks such as the PHA building and its solar panel project, the children’s park, the skate park, the Flight of the Seagulls fountain, the street solar illumination system and new cart paths, among others. Additionally, they have allowed PHA to support the recovery and reconstitution of the PHA Pterocarpus Forest and to support other critical community institutions such as the Palmas Academy, the Slip Owners Association and the PAC (Golf courses, the Beach Club and the Tennis Center) during times of crisis. More importantly, your assessments have allowed PHA to sustain the community and enabled its quick recovery during major emergencies such as Hurricane María.
Many homeowners are surprised about the plethora of services, programs and projects PHA has been able to undertake with a very reasonable yearly maintenance assessment of less than a $1,000 and very little increments over the years. This is due to an outstanding administration, adroit management of resources and outstanding budget planning and execution. Also, conscious that the large majority of Palmas property owners face additional monthly regime or condo assessments, PHA has maximized opportunities to create a number of small profit centers that allows to keep its assessment increases to a very minimum.
It is important to understand what happens when your PHA assessment fall in arrears. A 10% annual charge is applied to assessments in arrears and a 25% to 33% is charged in legal fees for collection cases referred to the attorneys for appropriate action. All accounts in arrears by more than two quarters are referred for legal action and PHA privileges are suspended. When accounts are referred for legal action, these accounts are no longer eligible to use the quarterly payment option plan and the total amount owed and becomes due and payable effective on the first day on the fiscal year. This includes all interest, late charges, administrative and legal fees and other charges penalties and expenses. In accordance with the Deed of PHA Restrictive Covenants applicable to all Palmas property owners, legal and court fees associated with accounts referred for legal action are the responsibility of the homeowner. Also, violations of the community wide standards by property owners or their family members, guests, employees or renters carry fines and penalties that are placed in the assessments accounts and are subject to legal action if not paid in a timely manner.
Please help in keeping Palmas del Mar as the dream community we all seek and deserve