At the 2018 annual meeting, the Board made the decision to reduce the quarterly assessments for 2019. The amount due each quarter will be $350. The reduced assessment will be effective beginning with the January 1, 2019 assessment due date.
Please note that if you are using recurring electronic debit services (ACH direct debit) through American Management of Virginia (AMV) for your assessment installments you will not need to make any adjustments. The $350 will be automatically debited from your bank account on January 1st.
The Board highly recommends that homeowners set up an ACH direct debit so that your payment is never late and always of the correct amount.
To set up an ACH direct debit, use the “e-Payment” tab on the AMV website (http://amvirginia.com/) and fill in the information. You can’t start an ACH until February, so you will need to make the 2019 first quarter payment another way, but you can set an ACH up now for all subsequent payments. Don’t click on any of the buttons at the bottom that launch the Mutual of Omaha Bank website. By setting up an ACH, the correct amount will always be debited from your bank account when the amount due changes in the future or if we assess a special assessment. If you go to the Mutual of Omaha Bank website, you can set up automatic recurring debits from your bank account, but you have to type in the amount to be debited and the frequency of the debits. This is not an ACH. So if the amount changes or if we assess a special assessment, you have to go to the bank website and change the amount or frequency. It is a little confusing as to how to set up an ACH, so please pay attention to how you are entering your information. If you have to type in a dollar amount, you are not setting up an ACH.
Please follow the instructions provided in your statement in order to pay your association dues. You can pay via check, e-check, or credit card (with a fee) and you can set up an ACH payment or recurring bank account debit. According to the AMV and Mutual of Omaha Bank/Community Association Bank websites, electronic payments (e-check, credit card, ACH payment, or recurring bank account debits) may take up to 5 business days to process. So make sure you are making your payments at least 5 business days before the 1st day of each quarter to ensure you are not charged a late fee.
If you have any questions about making a payment, please contact Tami Cook of AMV (email@example.com).