Association Property Management
Successful, commercial property management goes well beyond everyday tasks like collecting rent and building repairs. That’s why we offer a comprehensive suite of services to SWFL owners and investors. We build strong partnerships with our clients, delivering all the tools needed to succeed.
Many associations across southwest Florida have relied on our expertise to guide them with circumstances unique to 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. 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. Condominiums may be residential or commercial structures and in Florida, Florida Statute 718 is applicable. 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
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 “Master Associations”.
A POA or Master Associations responsibilities range widely based on its individual charter/association documents and amenities (i.e. marina, golf course, commercial infrastructure).
A PMC is not a governing body, it’s a professional service hired by HOA’s, COA’s and POA’s/Master Associations to run the day-to-day operations. They serve as the operational engine behind many associations especially when volunteer Boards desire expert support or don’t have the time or want the exposure to the liability of self-management. PMCs can handle everything from dues collections, vendor coordination, communications, financial reporting and the updating of association covenants and documents. PMCs can also schedule, manage and prepare the annual meeting agenda, proxies, etc., and assist with the elections of directors as well as recording the minutes per Florida statute. Ensuring that the community or commercial entity is keeping pace with legislative updates and changes is crucial for compliance among all members and is vital to the preservation of the community/commercial entity. This also helps ensure a consistent increase in valuation of the units that comprise the association.
Updating association documents must be voted upon by the membership at a duly noticed meeting and is an arduous task but necessary. I 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. We at SWFL Commercial Group pride ourselves on maintaining updated association documents for all properties we manage. 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…
A Community Association Manager is a licensed professional (or small intimate team) who oversees the practical operations of a community or commercial entity. CAM’s may work independently or as an employee of a Property Management Company (PMC). Their job is to walk the property, meet with Board members, coordinate vendors, and be the face of the BOD.
CAMs address and assess potential issues and seek resolutions that are financially within budget. CAMs also help develop line items for various reserve items and their applicable thresholds per Florida statute.
In Florida, certification and licensing is required for a CAM and involve formal training. At SWFL Commercial Group, we aspire to provide the support, direction and assistance Boards need and desire. 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….