Return to flip book view
GUIDE TO HOAs Waterlefe Master Property Owners Association, Inc. 995 Fish Hook Cove | Bradenton, FL 34212 | (941) 747 - 6898 Updated: February 2022
Page 2 of 9 Purchasing a property in a community governed by an HOA, or MPOA (Master Property Owners’ Association) is a big decision. If there is anything most people know about MPOA’s, it’s that there are rules to follow and dues to pay. And while all this is true, the rules and regulations are there for a reason: to keep the neighborhood beautiful and the community a wonderful place to live. As a member-owned and managed Association, Waterlefe Golf & River Club MPOA knows that understanding how an association functions is important for your investment and quality of life. Like most things, when it comes to MPOAs the more a member knows, the better off they will be. Read on to learn everything from MPOA basics, to the benefits of living in an MPOA, and much more.
Page 3 of 9 MPOA BASICS What’s an MPOA? A master property owners’ association (MPOA) is a not for profit organization set up to help run, manage, and maintain a neighborhood, building, or collective of homes. People who belong to an MPOA pay fees, which are used to maintain shared spaces and complete other duties like covenant compliance, meeting management, and financial planning. An elected group of volunteers (known as the Board of Directors) run the MPOA on behalf of homeowners. The MPOA Board works with professional partners to ensure responsibilities are carried out according to the rules, regulations, governing documents, and applicable laws. MPOA Primary Objectives The main objectives of the MPOA include, but aren’t limited to: - Administering Association business - Maintaining shared amenities - Establishing a system of property rights - Creating and enforcing rules and regulations 3 Things MPOAs Have in Common An MPOA might look and feel slightly different depending on the community. However, there are three things all associations have in common: 1. Mandatory Membership A defining characteristic of an MPOA is mandatory and automatic membership for all residents. This mandate allows an MPOA to operate and distribute the costs among a community equally. 2. Binding Documents MPOAs have governing documents that are legally binding. These documents give an association authority to operate and hold owners responsible for paying required fees, fines, and assessments. 3. Lien-Based Assessments Lien-based assessments give MPOAs the power to enforce rules and governing documents. The lien authorizes the MPOA to take possession of a home if charges aren’t paid, or rules are repeatedly ignored.
Page 4 of 9 TYPES OF ASSOCIATIONS Often, HOA is a blanket term used to describe many different types of community associations. However, different communities require uniquely structured associations that included planned communities, condominiums, and cooperatives. Each of these association types has less to do with their architecture and everything to do with the ownership structure. Below are characteristics of each HOA type. Planned Communities In a planned community, individuals own their unit and the land it sits on. The association owns common areas such as pools, parks, and roads. Other names you may hear for planned communities include owner association, townhouse association, property owners’ association (POA), and planned unit development - Waterlefe is home to two Planned Communities: the Waterlefe MPOA and the Shores Condominiums Individual owners in a condominium association own their unit and a percentage of all shared property such as lobbies, parking areas, and landscape beds. - Waterlefe is home to three Condominium associations: the Watch, the Watch II, and the Sound Cooperatives Cooperatives (or co-ops) provide all members involved with collective ownership over the units and shared spaces. Instead of purchasing a home or unit, owners buy a stock (or membership) which then gives the member the right to occupy or lease out a given unit. - There are no cooperatives in Waterlefe
Page 5 of 9 WHO’S WHO IN AN HOA Board of Directors An MPOA is required to have a Board that is authorized to act on a community’s behalf. Boards consist of elected volunteers who help create and enforce guidelines, set goals, and protect homeowner rights. The roles and responsibilities of an MPOA Board include: - Director o At large position, all 5 board members are Directors o Waterlefe assigns liaison responsibilities such as communication, human resources, association management, finance and River Club - Officer Roles within the Board include: - President o Schedules and runs Board meetings o Signs association documents - Vice President o Acts for presidents when they are absent o Helps run meetings - Treasurer o Oversees billing and collections o Leads annual budget efforts - Secretary o Maintains official records o Files annual corporate records
Page 6 of 9 Committees A committee is a small group focused on specific community aspects that required additional oversight, planning, and execution. Waterlefe committees include: Activities, Capital Projects, Covenant Enforcement, Finance, River Club, and Strategic Planning. MPOA General Management The General Manager is the face of the Association Office and is responsible for the overall operations of the association and advising the Board. Waterlefe’s General Manager is Susan Greene (email: gm@waterlefefl.com). Community Association Manager (CAM) The CAM is a licensed professional responsible for the day-to-day management of covenant compliance and contract facilitation. Waterlefe has three CAMs: Jackie Hannan (email: jhannan@waterlefefl.com), Bob Davis (email: bdavis@waterlefefl.com), and Susan Greene (email: gm@waterlefefl.com). Professional Advisors MPOAs often partner with attorneys, insurance agents, and Certified Public Accountants (CPAs). to protect the community and prepare it for the future. Service Providers MPOAs also require vendors to maintain and enhance the community. Needs vary, but most need service providers for landscaping, pool services, maintenance, waste management, and restoration and construction.
Page 7 of 9 MPOA TERMS & DEFINITIONS Master Property Owners’ Association (MPOA) MPOA is short for master property owners’ association. They’re established as not for profit organizations to help manage, run, and maintain a community. Budget A budget is an association’s financial plan that estimates income and expenses for a specific period. Design Review When a design or architectural review occurs, a homeowner submits planned property changes for approval, and the DR board will accept or reject the proposed changes, usually with additional feedback. Fiduciary Responsibility Fiduciary responsibility means the Board has an ethical and moral obligation to make decisions that benefit all residents, not just a single home. Governing Documents These legally-binding documents include the declaration, bylaws, rules, and regulations, articles of incorporation, and other materials that govern operations. Quorum A quorum is the minimum number of owners needed to hold a meeting. Having a proper quorum is critical anytime the Board conducts official business, changes rules, or votes. MPOA Fees MPOA Fees are typically collected on a monthly, yearly, or quarterly basis. The amount varies, but these fees go towards operations and the funding of an MPOA reserve. MPOA Fines When an MPOA rule or regulation is violated, a fine can be issued. Fine amounts depend on governing documents and other laws. MPOA Reserve Fund The Board is required to fund a reserve account for the community, which is collected to cover necessary capital improvements like parking lot resurfacing and painting. MPOA Special Assessments Special assessments are additional fees used to pay for budget shortfalls or unexpected costs. A Board must vote on an assessment before charging additional fees.
Page 8 of 9 MPOA FAQS How much are MPOA fees? MPOA fees vary depending on location. You can expect to pay more for a condo or townhome where MPOA fees also include insurance and maintenance for buildings with shared walls. Do I have to pay even if I don’t use the common areas? Yes. Once you move into a home that belongs to the MPOA, you’re obligated to pay all associated fees, regardless of how often you use the shared pool, fitness center, and other areas. Always ask about required MPOA payments before buying a home and get a clear understanding of what’s included with those payments. What kinds of things can an MPOA regulate? In general. MPOAs help ensure owners are properly caring for their homes and consistent look and feel is achieved throughout the neighborhood. This can include regulating what color you can paint your house or what exterior changes homeowners can make to their home. Rules will be outlined in the governing documents, which can be viewed upon request before purchasing a home. What happens if I break the rules or don’t pay? Most homeowners enjoy the protections an MPOA provides. Every association is unique, but typically, any late payment or violation receives a polite reminder. Most violations are resolved at this level, but you may receive several warnings before further action is taken. How does an MPOA enforce rules? MPOAs will outline an escalation process for continued non-payments or violations. Communication is key, and chances are your MPOA will work with you to resolve any issues. In some extreme cases, an MPOA may have to take legal action against owners who continue to violate guidelines. Can an MPOA Board change or add rules? Your MPOA’s rules aren’t set in stone. The Board has the authority to adopt new rules for the community. However, if these rules significantly alter the governing documents, then a vote by all association members is needed.
Page 9 of 9 4 BENEFITS TO LIVING IN AN MPOA While purchasing a single-family home, condo, or townhome that’s part of an association isn’t without extra cost, there are numerous benefits to being part of an MPOA. Below are some of the general benefits of living in a managed community. 1. MPOAs protect property values. The value of your home is affected by those surrounding it. When every homeowner keeps up the appearance of their own home and yard, it helps protect everyone’s property values. MPOAs ensure uniformity within their area of authority and prevent one or two rogue homeowners from lowering the entire neighborhood’s value. 2. MPOAs give you access to better amenities Part of your MPOA assessments typically go towards building and maintaining community amenities that are shared equally among members. These amenities can vary but may include: o Clubhouses o Fitness Centers o Gyms o Pools o Walking Trails 3. MPOAs provide rules and regulations that promote good community citizenship A well-run association provides the proper framework for a great living experience. They establish rules and regulations that eliminate many problems like loud music, barking dogs, and unkempt lawns. Offering guidance on shared meeting spaces, common area occupancy, and amenity usage, neighbors have equal opportunities to come together, socialize, and help one another-promoting good citizenship across the community. 4. MPOAs can resolve community disputes If there’s ever an issue resolving community conflicts, your MPOA can be an invaluable resource for fixing the problem. Whether it’s enforcing an existing rule or helping homeowners come to a mutually agreed-upon resolution, your MPOA can be an advocate for everyone living within the rules and regulations of the community.