How to Pay assessments

Collected dues pay the costs of operating the association, including annual maintenance of the common areas and amenities provided for resident use. As outlined by the governing documents for the Stonebridge Ranch Community Association (SRCA), each owner of a platted lot is obligated to pay an annual assessment.

The Board of Directors approved the association’s 2022 operating budget in October of 2021. As advised by the Finance Committee, the flat rate 2022 assessment fee for Stonebridge Ranch households is $865. This is a $25 increase over the 2021 annual assessment.*

2022 ASSESSMENT DUE DATE

On October 29, 2021, the SRCA Board of Directors began the transition from our former management company, RTI/Community
Management Associates, Inc (CMA) to our new management company, GrandManors(GM). New management of SRCA began 01/01/2022.

To ensure smooth transition from CMA to GM regarding SRCA 2022 annual assessment payments, the Board has approved a one-time
adjustment in the payment calendar. For 2022 only, SRCA owners have two windows to pay assessments: 1) December 2021 to CMA
and 2) beginning January 1 to GM. Due date for 2022 only is 28 February.  

PAYMENTS TO CMA

Payments to GrandManors may be made prior to December 31, 2021. Assessment statements will not be mailed in December (this year only). However, if you prefer to pay your assessment in December, CMA will accept 2022 assessment payments up to 12/31/21.
After December 31, 2021, any payments received by CMA will be handled as follows:

 

  • If paper check mailed to lockbox, the lockbox custodian will return checks to CMA and CMA will forward checks to GM.
  • If sent electronically or via bill payment from your individual bank account, the payment will be returned through the banking
    system. Please contact your bank now to cancel this payment.
  • If personal check is received at the CMA corporate office, payment will be forwarded to GM.
  • If you are currently signed up for ACH withdrawal by CMA, this CMA service will automatically discontinue effective 12/31/21.
  • Additionally, any active payment plans will need to be re-set with GrandManors for payments in January and forward. You will
    receive assessment statements in January from GrandManors with new remit to instructions and payment options.

PAYMENTS TO GM

Effective January 1, 2022, GrandManors will update owner account status and send preliminary statements to all SRCA owners in
January.

  • Owners will receive a Welcome Letter from GrandManors that includes detailed payment instructions and individual owner GM
    account number. Instructions for those who wish to set up automatic drafts will also be included. If you do not have a computer, or if you need assistance, please come by the SRCA offices at 6201 Virginia Parkway, McKinney, 75071, and the staff will gladly assist you in establishing this draft.
  • If you have bill payment set up through your financial institution, please cancel this payment. It can be re-established with the
    GrandManors address once you receive the Welcome Letter. Please be sure to include the GrandManors account number in the
    memo of your payment.
  • There is no need to cancel ACH withdrawals including payment plans established with CMA since CMA will automatically
    discontinue drafting payments. Please do not place a stop payment on your account.
  • If you have a prepaid balance on your account with CMA, or if you accidentally send your payment to CMA, it will be transferred
    to GrandManors (typically no later than 60 days after the management contract begins).
  • If you mail in a check, please be sure to include your property address to assist in proper application of your payment.
  • The first statement you receive from GrandManors will only have the flat rate 2022 assessment rate: $865. It will not include any
    prior balance. Prior balances will be added to owner accounts once CMA closes out the SRCA financials for December and
    provides ending account balances to GM. Once the prior balances (where applicable) are received, GM will add them to each
    owner’s account.

Transitioning of property management companies is a complex business transaction. The SRCA Board continues to work with both CMA and GM to make this transition as smooth as possible. Further, the SRCA 2022 assessment due date will be extended until February 28 for next year only. Questions? See this SRCA 2022 Assessments Transition FAQ. Thank you for your patience and ongoing support of our premier planned community.

Sincerely,
Jon Dell’Antonia, President
SRCA Board of Directors

BILLING/COLLECTION POLICY

If possible, it is important that homeowners pay their annual assessments in a timely manner. Residents who are delinquent in paying the annual assessment may not use premier amenities like the Beach & Tennis Club or the Aquatic Center. Similarly, if your account becomes past-due and you set up a payment plan with CMA to clear it, you cannot access SRCA amenities until you have a balance less than $50.

*Some original homeowners in our earliest villages pay a different assessment amount based on tax value (not to exceed the flat rate fee). All tax value lots in Stonebridge Ranch will eventually transfer to flat rate lots—a change which occurs when the tax value lot is sold by the original owner. Also, note that some homeowners pay assessments to a village sub-association in addition to the main SRCA homeowner’s association. The SRCA oversees, assesses, and communicates SRCA fees only. Sub-association transactions are handled separately by each sub-association.

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