Association Property Management
In Florida, there are a plethora of association types – both residential and commercial. Home Owners Associations (HOA), Condominium Association and commercial Master Associations, – just to mention a few. All association
types are subject to their own set of specific Florida statutes such as Florida Statute 718 or Florida Statute 720 and are inclusive of reserve standards, and covenant/document regulations.
Many associations across southwest Florida have relied on our expertise to guide them with circumstances unique to their specific association management. These include insights into accounting, reserve studies, insurance, and meeting rules that govern associations.
Our goal is to ensure long-term financial sustainability and provide owners with the knowledge they need to make the right decisions to boost the value of their investments.
Home Owners Association
What Is an HOA?
A Home Owners Association (HOA) is a governing body that manages a community of single-family homes, townhomes, and sometimes duplexes under Florida Statute 720. These associations are responsible for maintaining shared spaces- think landscaping, community pools, private roads, common elements- and equally enforcing the Rules and Regulations that keep the community visually cohesive and well maintained.
HOAs collect dues from owners/members to fund community upkeep purchase insurance and also to ensure everyone follows and adheres to the association documents and covenants agreed to when they either purchased or leased within the community.
Condominium Owners Association
What is a COA?
A Condo Owners Association (COA) functions similarly to an HOA but it is specific to condominiums, under Florida Statute 718. Condominiums may be residential or commercial structures. COAs oversee common building elements- think elevators, roofs, exterior walls, plumbing and electrical systems and any other shared outdoor spaces like pools, landscaping, walkways, private roads, gyms, parking lots or other common elements. Members own their individual unit, drywall-in.
However, the COA manages the physical structure(s) and utilities. Because condominium buildings require more
collective maintenance. COAs often operate with annual approved budgets and stricter oversight and is accountable to a Board of Directors typically composed of 3-5 members.
Property Owners Association (Master Association)
What is a POA?
A Property Owners Association (POA) can be broader than either an HOA or COA. POAs may govern a combination of residential structures, commercial properties or entire mixed-use developments. These are often “umbrella” organizations sometimes referred to as a “Master Association”.
A POA or Master Association responsibilities range widely based on its individual charter/association documents and amenities (i.e. marina, golf course, commercial properties). A Property Owners Association may be governed by Florida Statute 718 or 720 depending on the nature of the properties.
A Property Management Company also know as a CAM Firm in Florida is a licensed business entity (corporation, LLC, etc.) that manages the daily operations of residential community associations, such as HOAs, condominiums, and cooperatives. Acting as the agent for the board of directors, they handle maintenance, financial management, rule enforcement, and meetings. In addition, CAM Firms often assist with maintenance and updating of Association documents (Bylaws, Declarations and the Rules & Regulations). CAM Firms hire licensed Community Association Managers.
A Community Association Manager (CAM) in Florida is an individually licensed professional who oversees the daily operations, maintenance, and financial affairs of their assigned residential or commercial communities like HOAs, condos, and co-ops with over 10 units or a $100,000+ budget. They act as a liaison between the board of directors and residents, managing vendors, enforcing rules, and collecting fees. In most cases a CAM is employed by a Property Management / CAM Firm.
Updating association documents is an arduous task but certainly a necessity. We cannot stress the importance of maintaining and updating the association documents to keep pace with the legislature as the laws are implemented at the state level. Not doing so can put your association at legal peril and possibly could cost your association significantly more in legal fees; whereas, if the association documents are in lock step with current laws and statutes on the books, there is much less room for ambiguity and legal exposure.
At SWFL Commercial Group, we aspire to provide the support, direction and assistance Boards need and desire. We pride ourselves on maintaining and updating Association documents for all properties we manage. Our experience and expertise is second to none. Our approach is consultative. Call us today to discuss your association’s needs and address any questions you may have. We are here to provide exceptional service when you need us….