Frequently Asked Questions

Preferred Community Management

Q: Do you accept online payments or payments over the phone?

  • Currently we do not accept payments online or over the phone. However, automatic payments can be setup online through your banking institution that will result in a check of the designated amount being sent to our P.O. Box from your banking institution. 

​​Q: What is an Estoppel Letter? 

  • ​An estoppel letter, of which the fee cannot exceed $250.00 per Florida Statues, is a legal document provided by the seller's Homeowner's or Condominium Owner's Association, outlining the current owner's financial standing, past due balances, current fees due and lists all future special assessments due. As stated by Florida Statue 720.30851, within 10 business days after receiving a written or electronic request for an estoppel certificate from a parcel owner or the parcel owner’s designee, or a parcel mortgagee or the parcel mortgagee’s designee, the association shall issue the estoppel certificate. If a rush fee of $100.00 is paid, the estoppel certificate must be delivered within 3 business days.

Q: What is a Transfer Fee?

  • ​A transfer fee is a transactional fee to cover the expenses of the management company updating the association's records & documentation, required actions, and the distribution of the HOA's governing documents.

Q: What is a Homeowners Association (HOA)?

  • ​A Homeowners' Association is a legal entity created for the purpose of developing and managing a community of homes. The HOA is given the authority to enforce the Covenants, Conditions, and Restrictions (CC&Rs) of the association and to maintain the common areas of the association. The respective CC&Rs of each association are sent to every new owner. 

​Q: What is a Community Association? 

  • ​A community association is an collection of homes and members living in the community who agree to follow rules and regulations of the association. 

Q: What is an Association Management Company, such as Preferred Community Management, and what do they do?

  • A property management company is contracted by the Board of Directors of the community and is responsible for a myriad of services. These services include, but are not restricted to, collecting HOA dues & assessments, sub-contractor endeavors, bookkeeping, and overseeing general maintenance of the common property and administration of the association. 

​Q: What is a Board of Directors?

  • The Board of Directors are generally members of the community who have a fiduciary duty to act in the best interest of the association in carrying out the duties and responsibilities of the association. ​

Q: What are 'By-Laws?'

  • By-laws are a set of rules in reference to the manner in which the Board of Directors may operate. Generally, the by-laws define the offices/committees that comprise the Board and may include such items such as voting rights, notices, or other areas that relate to the successful operation of the association. 

​Q: What is the 'Declaration?'

  • The Declaration is often referred to as the 'master deed' or 'constitution' of the association. It defines the owner's responsibilities to the association, such as payment of HOA dues/assessments and other duties and responsibilities. It describes deed restrictions that govern the Lot and home. 

Q: What is a Lien? 

  • ​A lien is a monetary claim levied against a property for unpaid charges such as mortgage or taxes. The lien is designated to the property, not the property owner, but is by law, recorded into the property records of the county of residency. If a lien has been levied, the property owner has restricted ability to do anything related to the property until the lien is satisfied.

​Q: What is an 'Easement?'

  • ​An easement by definition is the right to cross or otherwise use someone's land for a specified reason. For example, the association may have an easement for maintenance or other repair purposes. Also, a public utility service could have an easement for maintenance or repair as well. 

Q: What is a 'Common Area?'

  • Any area of property that is intended for shared use by the members of the association, such as a community park. 

Q: What is an Ordinance?

  • An ordinance is an individual or set of laws that are utilized by the local government at the city or county level.