Unit Owner Assessments were delayed this month as our team worked to correct a problem. Therefore the grace period for February payments will be extended until the 15th.

In this case, our system of checks and balances worked as it should to prevent printing hundreds of erroneous statements. The error (which we believe could have been a data entry or software problem) made it appear as if Owners charges were double what they should be. So, when our team reviewed the file for February prior to printing, we saw this and the statement file had to be corrected and regenerated. AND, after it was regenerated it had to be reviewed again before we could release statements.

We realize owners rely on the statements as a reminder for payment, or even to help process payment. For that reason, late fees will not be charged until February 15th to give Owners extra time to review their statements and process payments.

Let me explain the process we go through a bit to generate statements, so Owners know better why the timing is what it is, and why even a small problem can result in a bit of a delay.

FIRST, we have to take in account there is a grace period of 10 days. We have to wait until the 11th each month (the 12th or 13th if that falls on a weekend), to review past due accounts and to do the jobs we need to do for collections and payment processing.

Also, every month our accounting deadline to enter new charges, adjustments, move ins and move outs, late fees, parking charges, etc., is the 15^th – and if the 15^th falls on a weekend, it is the 16^th or 17^th.

Around that time, we receive a notice from Habitat (the Management Company) which is basically a last call for us to enter charges. This is important because depending on how much business there is, we may be behind entering work tickets, late fees, processing moves, etc. We  give the team at Habitat a thumbs up when we are ready. This month, we gave the thumbs up on Monday January 18th.

THEN, Habitat creates a master file, and it is forwarded to us for review. That is typically between the 18^th and 20^th. We do a quick audit of that file – all 740 accounts are scanned and we look for anything that does not seem right, or out of place. For example, if it showed a Unit Owner’s balance was $1,742,892.34, obviously there is a problem to correct. We don’t catch every problem. There can be thousands of entries in a given month with assessments, cable, parking, work tickets, late fees, and such. It is not practical or realistic to believe we can review them all with the time we have. And we cannot always stop the very moment we receive the file, to review it. But, usually we complete our review within 1 business day, and give the team at Habitat the green light to print the statements.

One thing we would encourage Owners to do, is sign up for e-statements…

By doing this, once the statements are created, those who’ve registered for e-statements will get an e-mail with a link to access their file right away. You can get instructions about registering for e-statements, making payments online, direct debit, and other information, at the following link for our PTCA Payment Options FAQ originally posted last year as the transition to the Habitat Company was underway. Most of the specific details and instructions remain consistent:

Association Payment Options – FAQ

Beginning March 1st, as announced with the notice to Owners regarding the 2021/2022 Budget (2021 Budget Notice), Owners who continue to wish to receive paper statements, will be charged a $1 fee for printing and postage.

So, with specific regard to e-statements:

Q: How do I register for E-statements?

A: Toward the upper right hand corner of the attached sample statement you will see a message, “To receive future statements electronically visit https://www.estmt.net.” Just below that is says “Your Registration ID: ####-####-####”. Owners should see this as well on their own monthly statements. If you have a problem locating this, please send an us an e-mail at parktowercondo-mgmt@habitat.com, and someone from our team will follow up with you.

The https://www.estmt.net link takes you to the online app Habitat has for Owners to set up and manage e-statements. Once you are there the first time, toward the lower half of the page you will see where it indicates you can “Create An Account”. Here you will enter the “Registration ID” and follow the prompts to set up your e-statement account.