If you live in or own property in Florida, you’re probably familiar with homeowner associations (HOA), as a whopping 44.5% of the state’s population lives in one. If you’re unfamiliar with HOAs, you must be new here, welcome!
As an Orlando rental property owner working with or looking to work with a property manager, you may be wondering how HOA dues are handled, and we’re here to help!
What is an HOA?
An HOA is an organization that sets and enforces rules and regulations for a community in the best interest of the residents. The rules of an HOA vary from community to community, but the committee typically enforces regulations that preserve the look and feel, safety, and appeal of the community.
Some HOA regulations that are popular in Orlando are:
Landscaping standards and restrictions
Trash and recycling guidelines
Pool safety and regulations
How Much are HOA Fees in Florida?
Florida HOA members will typically pay between $100-$500 depending on what type of property you own, what county you reside in, and what kind of community your property is located in.
HOA fees usually cover fees associated with:
Common area maintenance
Security and gate enforcement
Insurance for common areas
HOA fees focus on elevating the experience of living in a community. In places like Orlando, HOA fees typically cover amenities like swimming pools, tennis and pickleball courts, and community clubhouses which are highly favorable amongst Florida renters.
Should My Property Manager Pay My HOA Dues?
At The Listing Real Estate Management, we manage a plethora of properties in Orlando and Tampa that are located in HOA communities. One question always comes up — “Do you pay my HOA dues as my property manager?” The answer to this question is NO!
Your property management agreement will specify what processes your property manager will be in charge of allocating funds for, however, they should not be paying your HOA dues. As a property owner, paying your HOA dues should be your responsibility, even when you’re working with a property manager.
Although a reliable property manager will conduct all management duties efficiently, you don’t want to take the risk of a missed or failed HOA payment. Failing to pay HOA payments may result in fines and in the worst case scenario, foreclosure.
Just like paying a mortgage or taxes, you don’t want to place these essential homeowner tasks in the hands of someone else. If your property manager were to forget to pay your HOA dues, you might not know until it’s too late to be resolved.
You don’t want to take this risk and place trust in someone else to take care of important payments that can put your homeownership in jeopardy. We highly recommend setting your HOA payments on auto pay to avoid any complications.
Should I Hire a Property Manager if My Rental Property is in an HOA Community?
Whether or not your rental property is located in an HOA community, we highly recommend hiring an Orlando property manager to oversee the management of your property. By working with a property manager, you’ll be able to reap the benefits of earning a passive income.
At The Listing Real Estate Management, we manage various types of properties located within and outside HOA communities. With almost half of the Florida population living in HOA communities, we are very familiar with the rules and regulations and procedures that must be followed.
Although we at The Listing advise against trusting a property manager to pay your HOA dues, that should not discourage you from seeking professional property management. Our services are Orlando property management redefined. Exceptional hospitality is engrained in all of our property management services to provide extraordinary Orlando property management experiences to all rental property owners.
Whether your rental is in Orlando, Winter Park, Windermere, Lake Nona, Winter Garden, or throughout Central Florida, our Orlando property managers are ready to service you and your rental property. As Orlando & Central Florida’s trusted choice for property management services, we provide a FREE in-depth rental analysis to maximize your rental income.
Contact us today to get started on your property management journey with the best property management company in Orlando!
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