What is an HOA Non-Profit Association?
It is a non-profit corporation like Salvation Army. It is an official business that is required to follow state laws and its Governing Documents.
A Homeowners Association is a entity that lives on its own. The elected Board of Directors steers the corporation, or in our case, the HOA to make decisions for the betterment of the community. Being a shareholder of a corporation, you have limited rights.
When you purchased a villa in a HOA, you agreed to abide by the Governing Documents. There are not unlimited rights granted. The Board guides the association in making good decisions for the membership. The mission statement is to maintain the community and increase homeowner value. One of the decisions that was made is that for 2025, we are going back to a 5-person board. Unfortunately, we need to replace a board member who has resigned because of health reasons.
HOA dues
HOA dues are going up 5% due to increased costs being passed onto us. We all know that the water bill went up 25%.
Right now it is approximately $80,000 a year. It is our largest expense. It was unsustainable for the association to absorb it hence the $75 special water assessment. This increase has been baked into the dues for 2025. Along with the water going up, the pool and lawn care have notified us of increases for 2025.
The maintenance of our lawns, sprinkler system and association trees are our second greatest expense! The combined cost is approximately $60,000!
As many of you know, the Association is required to carry insurance of our common land as well as our Board of Directors. This year we spent over $10,000!
Our reserves have come up in the past 4 years to help cover the cost of a new roof with a modest special assessment. This is a topic that will be discussed in the spring before the next hurricane season. Fortunately, we didn’t have any storms this year.
Our FP&L and Pool services cost over $7,000 each!
Our association lawyer is increasing her rates to us. We have paid her $2,488 so far this year. This includes letters that needed to be written to association members who were non-responsive to the association letters. Every time we need to get the lawyer involved because of violated rules, it costs all of us more money.
Transparency
In 2024, the Florida legislature passed a number of laws that affect HOA’s and how they conduct their business. We were able to quickly adapt to these new laws because we were already practicing and had in place these new rules. Please know that this Board tries to be as transparent as possible.
Website
Our website is only required for communities of 150 or more homes. On our website are all the financials that are open for anyone to look at without having to track down a board member to view it. We also have meeting minutes posted from all meetings that the Board conducts. It has a link to Florida Statues 720, which is the statue that governs HOA’s in the state of Florida. It has our Governing Documents. It also has rules and regulations, which is a summation of the Governing Documents. We have the Association and Maintenance phone numbers to reach us via call or text. Also, the assocation’s email address is on the website.
In short, we want to react quickly to an issue that our members may have concerns about. That being said, I will say, sometimes the answer may not be forthcoming if it is a difficult question. Also, sometimes we have to say no because of different reasons. Rest assured though, there will be a response to your question or concern.
Home Sales
Garden Patio Villas has had three sales this year for an average sale of $267,000. There are currently 2two villas for sale in the community.
Accomplishments
Keep Margate Green
132 townhomes will be built on the golf course. The Association was able to successfully negotiate placing a gate at the community entrance from Margate Blvd. It will be paid for by the developer. Details are still to be worked out. It will not eliminate traffic, but it will slow it down.
Grateful
We want to acknowledge and thank Gelliruth, who is retiring from the Board as Treasurer. Her hard work and dedication to the community has been greatly appreciated. She has been a pleasure to work with over the past 4 years. Her insight and understanding was a great asset to our Homeowners Association.
In Memoriam
Thankfully, there were no passings of community members this year.
Thank you
Thank you for helping to make our senior community a place we are all proud to call our home. We hope you enjoyed our 2024 annual member meeting remarks here at Garden Patio Villas Association!