Ensuring every community thrives depends on timely assessment payments, and we want to make this process as convenient as possible for you. This guide outlines the various ways you can pay your monthly assessments. While each association is a little different this applies to almost most of the properties we manage.
Important Note: Please always make your checks payable directly to the “Name of Association”, not Advantage Management. Some associations are just your address and then Condo or Townhome association after it and some have a specific name. You can usually find the official name of your association in your governing documents or on your statements.
Payment Due Date: Generally, assessments are due on the first of the month for the current month. Please be aware of the grace period and the importance of timely payments, which allows the association to meet its financial obligations.
Here are your payment options:
Option 1: Automatic Bank Withdrawal (ACH)
- Enjoy the convenience of having your assessment automatically debited from your designated bank account on the 10th of each month (or the next business day). There are no fees for this service.
- Benefits of ACH:
- Hold onto your funds longer each month.
- Ensure the correct assessment amount is always paid.
- Automatic updates for annual assessment changes.
- Option to include additional charges like tax appeals or special assessments.
- How to Enroll in ACH: Simply complete our online form by the 20th of the month to have it take effect the following month. ACH FORM
Option 2: Payment Book/Coupon Book
- Some associations utilize payment books with coupons. To use this method, write your check payable to the Name of your Association, enclose the corresponding coupon, and mail it to the lockbox.
- How it Works: Your check and coupon are sent directly to a bank lockbox. The coupon contains coding that allows the bank to efficiently process and apply your payment to your account. Please mail your payment to: PO Box 1003, Bedford Park, IL 60499-1003.
Option 3: Online Bill Pay Through Your Bank
- You can set up recurring payments through your bank’s online bill pay service. However, please note banks still send a physical check to our lockbox; it is not an electronic transfer.
- Important Considerations for Bank Payments: Be mindful of processing and mailing times. If you schedule a payment for the 1st of the month, it may take 1-2 weeks for the lockbox to receive and process the check. During this period, neither you nor the association has access to the funds.
- Key Information for Bank Payments:
- Make the check payable to the Name of your Association.
- Include your account number in the memo section (this can be found on your online portal, statements, or coupon book).
- Direct your bank to mail the check to: PO Box 1003, Bedford Park, IL 60499-1003.
- Remember to update the payment amount with your bank for annual assessment changes or additional charges.
Option 4: Online Payment (Credit Card or E-check)
- For convenient one-time payments or reoccurring payments using a credit card or e-check, please visit the Advantage Management website and navigate to the ‘Current Homeowner’ menu, then select the third option.
- Important Notes for Online Payments:
- The online payment site, DuesPayment, is a 3rd party company that only provides payment services for our homeowners – it is not linked to our software and will not have your account balance. This site will only keep record of your payments made. Homeowners must log into the Homeowner Portal to see your account statement and balance owed.
- If an owner wants to set up their own autopayment schedule, they can do this with the Online Payment service. The owner is in control of their online payment account. The online service company charges a convenience fee for each payment. Recurring payments set up through this portal require renewal every 12 months.
- The owner is responsible for managing the payment amount changes, credit card updates, and cancellation of autopay – including when the unit is being sold.
- This service is available about 90 days after an association starts with Advantage Management. You will need to search for the name of your association and then the address listed will be our office address in Skokie. Please make sure you are using the proper name of your association when searching.
- CONVENIENCE FEES CHARGED BY DUES PAYMENT:
- Credit Card: 3.75%
- Debit: 1.50%
- E-Check: $4.95
- There is a $2,000 maximum limit per transaction, including transaction fees
Option 5: In-Person Check or Money Order Drop-Off
- You can drop off checks or money orders payable to your Association at our office located at 8430 Gross Point Road, Suite 200, Skokie, IL 60077. Our office hours are Monday through Friday, 8:00 AM to 5:00 PM. For after-hours drop-off, a secure drop box is available next to the entrance door on the parking lot side of the building. Please note that we do not accept cash payments.
Option 6: Overnight Payments
- If you need to send in a payment for quicker processing and need to overnight a package via any carrier you should send those checks to our office address in Skokie.
We hope this overview of payment options is helpful! We highly recommend the ACH automatic withdrawal for its convenience, lack of fees, and the assurance of timely and accurate payments.
If you have any more questions or need help with your payment options, please don’t hesitate to contact your property manager.If you need to send in a payment for quicker processing and need to overnight a package via any carrier you should send those checks to our office address in Skokie.
We hope this overview of payment options is helpful! We highly recommend the ACH automatic withdrawal for its convenience, lack of fees, and the assurance of timely and accurate payments.
If you have any further questions or need assistance with your payment options, please don’t hesitate to contact your property manager.
Recent Comments