Executive Property Management (EPM), the Association management company, offers the feature to have your monthly fee automatically deducted from your bank account. This will save you the hassle of writing a check, paying postage and mailing it. It also ensures your payments are timely credited avoiding any late fees.
The Automatic Withdrawal is also sometimes referred to as "Direct Debit" or "EFT" (Electronic Funds Transfer) or ACH Debit.
After a homeowner completes and sends in the following form, you will be enrolled in the automatic withdrawal program.
Download Automatic Withdrawal form
Payments will be deducted from your bank account (can be checking or savings) by the 5th of the month.
EPM will deduct each month your regular monthly Association fees as well as your Renovation Project Special Assessment Loan payment amount if applicable. The Automatic Withdrawal will not
automatically debit late fees, fines, or other non-recurring payments. Those must be made separately. Please see the "By Mail / Coupon Book" section for the lock box mailing address for these non-standard payments. However, Dryer Duct Cleaning fee, done on even years, will automatically be deducted
unless you chose to "Opt-Out".
In the event there is insufficient funds in your account twice in one calendar year, you will be removed from the automatic withdrawal program and will need to make payments another way.
EPM will automatically adjust the monthly fees each calendar year to reflect the new monthly fee amount. You do not need to take any action on your part.
You do not need to renew your participation in the Automatic Withdrawal program each year. You will stay on it until you instruct EPM to stop deducting the fees. if you need to stop the automatic withdrawals for any reason including selling your unit, please send your request in writing to Management@RavensCrestEast.com
Selling Your Unit and Stopping Automatic Withdrawal
It is important to note that you must contact EPM to stop the fees when you sell your unit, as EPM is not always informed promptly during your closing process that your unit actually closed on a specific day. While you might request a pay-off amount from EPM, they do not know if you actually closed on your unit that day. Contact EPM immediately after closing to stop the automatic withdrawal.