5 Things You Should Know About Florida HOAs Part 2
In part one of this two-part series, a homeowners association (HOA) management professional from Wise Property Management, Inc. discussed two important HOA duties that a Tampa association management company can assist with: collecting fees and dealing with turnover. As time goes by, it’s important to understand that the needs of your community will fluctuate. You want to work with a Tampa HOA management company that can adapt to these ever-changing needs, provide top-tier service year-round, and help you manage your obligations to the homeowners.
3. Mandatory HOA Membership Enforcement
In Florida, residents who choose to purchase a home, condo, townhouse, or villa in a neighborhood that is overseen by an HOA are required to pay HOA fees and dues. Membership is considered automatic in the Sunshine State. When a resident chooses to violate their HOA agreement, you must have a process in place for collecting overdue fees. This is one of the many responsibilities that a Tampa association management company can handle on your behalf. Informing a resident that their status in your community is contingent on HOA fees can lead to a messy situation if not handled well. Leave it up to the professionals to ensure that your residents are meeting their obligations to the HOA.
4. Responsible Recordkeeping
Chapter 720 of the Florida Statutes dictates that all records be held for a minimum of seven years, including:
- Meeting minutes of the board of directors and of the members
- Active roster of members with mailing addresses and electronic mailing addresses or numbers
- The association’s insurance policy
- Copies of all contracts, including management agreements, leases, and bids for the improvement of real property
- The financial and accounting records of the association, maintained in accordance with good accounting practices
Upon request by the board, the official records must be available for inspection and photocopying no further than 45 miles from the community or within the county where the association is based. Depending on the facilities available to you, it may be difficult to maintain compliance with these rules. Fortunately, a Tampa HOA management can assist you with recordkeeping by housing your documents in a safe, climate-controlled space.
5. Communication Is Essential
Every community boils down to a collection of dissenting opinions arguing in defense of their own best interests. Managing these needs can be a tough balancing act that many HOAs take for granted. Community management is a full-time job that requires tact and diligence, and communication is essential if you want to retain residents and boost the value of your community. Many HOAs simply aren’t equipped to handle this important duty, and their communities suffer as a result. This is where the services of Wise Property Management, Inc. come into play. Our experienced Tampa association management company can help your community reach its full potential.
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