Carrying Charges
Effective January 1, 2026, monthly carrying charges are:
- One Bedroom: $517
- Two Bedroom: $576
- Three Bedroom: $645
Payment policies:
- Payments may be made by check, credit/debit card or money order.
- Checks must be written in blue or black ink.
- Cash payments are not accepted.
- Credit/debit card payments must be received by 4:00pm to be processed the same day.
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Autopay can be set up through your financial institution.
- Payment must be received by end of business day on the 15th in order to not be considered late. Any payment received after close of business on the 15th will receive a $50 late fee.
Charges & Late Fees
- Carrying charges are due on the first (1st) of each month.
- Payments received after the fifteenth (15th) are considered delinquent and will incur a $50.00 late fee.
- If the fifteenth falls on a weekend or holiday, payment must be made by the next business day.
- Returned checks due to insufficient funds or stop payments will incur a $25.00 fee, in addition to bank charges.
- Any unpaid balance of $1.00 or more is subject to a $50.00 late fee if not paid in full.
HO6 Insurance Requirements
In accordance with Section 47-255(c), each Cooperative Member/Owner shall obtain and maintain adequate property, casualty, and liability insurance covering the unit, personal property, personal liability, and building coverage sufficient to offset the deductible of the Cooperative’s master insurance policy. This coverage, commonly known as HO-6 insurance, must be maintained at all times. A certificate of insurance must be filed annually with the Cooperative Office. Failure to maintain coverage may result in fines and liability for losses up to the master policy deductible, including legal fees.
o Mandatory Minimum Coverage
· Additions & Alterations (Dwelling): $25,000
o Recommended Minimum Coverage
· Liability Coverage: $300,000
· Loss Assessment Coverage: Minimum $1,000
· Contents/Personal Property Coverage: At owner’s discretion