Garden Patio Villas is looking at the costs of hiring a Management Company. Current Board Members are ready to retire from their years of service to our community. No other Members have requested to be on the Board of Directors.
HOA’s require a Board to take care of the Association. Not many HOA’s are self managed, like Garden Patio Villas. Self management requires Board Members to have a lot of knowledge about the business and the legal side of HOAs. When Management Companies run the HOA, Board Members meet with the Management Company monthly to approve items. The Management Company knows the rules and the legal requirements.
The uncertain part of hiring a Management Company in South Florida is that many companies are known to have bad reputations stealing money and making bad decisions for HOA communities. We would not be their first priority because of the small size of our community.. There are so many negative reviews with Management Companies in South Florida!
What would change if we went from being Self Managed and doing the work versus paying a Management Company to do it?
Are there other options? Yes, there are!
Currently, each Board Member gets $120/month per our Governing Documents because we are self managed. The work is approximately 10 hours a week. Some weeks more time and some weeks less. If Membership voted to raise the amount to $200/month for each Board Member, that would equate from currently $570/quarter to $590/quarter, assuming all other costs remain the same.
Our Board of Directors use text to communicate with each other regularly and use Google documents for our records. We use Quickbooks online to keep record of all of our finances whether it be Members or Vendors.
If you are interested in running for a Board of Director position, please read the following articles:
The Board will soon be creating a survey for Members to take to find out what direction we want to go in 2025. Be on the lookout for this survey and make sure to respond so we have a good idea of the direction Members want to go. Results will be posted when complete! The results will help determine whether the Board will be hiring a Management Company or if we are able to continue to be a Self-Managed Homeowners Association and keep our cost to a minimum!
