Why should you attend your annual Association meeting?

If you own a home or condo on the Emerald Coast, you may be wondering why your Homeowner’s Association or Condominium Association holds an annual owner’s meeting and what information you might be missing by not attending. The Association Management team at Newman-Dailey is here to answer those questions. Here are the top 3 reasons not to miss your association's annual meeting:

Property Update
Each year, your CAM manager will update you on any projects that have been completed or are currently in the process of being completed since last year’s annual meeting. This will include any major repairs or improvements, landscape upgrades, and overall upkeep of your property. If there are any items not addressed within your property update or any maintenance items that you believe need to be addressed, now is the time to ask.

Financial Update
We strongly encourage you to keep track of your Association’s financial status each year. For owners who do not serve on the Board of Directors, this may be your only chance to hear a full financial report. This report will include your current operating account balance, capital reserves balance, as well as any assessments receivable if applicable. Your management company or CAM will also review any major expenditures incurred throughout the year and present the next year’s Board approved budget and Board recommended capital reserve funding. (This new budget will also tell you if your Association dues will increase, decrease, or remain the same.) We offer several different means by which to pay these assessments, including auto withdrawal, credit card payment through a third party provider, check, or cash.

Get to know your Board Members
You’ll want to know the people representing your interests. In addition, it is election time and you’ll want to know who is running. In fact, you may have a desire to run for the Board of Directors and play an active role in the day to day decision making of your property. If so, we suggest you submit your candidacy to run for the Board of Directors no sooner than 60 days and no later than 40 days prior to the annual meeting. As a management company, we work at the direction of the Board of Directors, so an active and involved Board is critical to the quality of a property, both in the pleasure your ownership brings to you and in the appreciation on your investment by careful management of the Association. The Association cannot function without a Board of Directors. By attending your annual meeting, you will have the opportunity to cast your vote for the Board member(s) of your choice, as well as interact with fellow owners.

As one of the best-rated Association Management companies in Fort Walton Beach, Destin and South Walton, our priority is to maintain a desirable neighborhood and ensure the continued stability of owners’ property values. While we all have dedicated duties at Newman-Dailey, we take a TEAM approach, which allows any one of our experienced team members to provide assistance. In addition, we have a 24-hour answering service and respond to emergency after-hour’s calls.  We invite you to learn more at DestinManagement.com or call us at 850-837-1071.
 
See you @ the beach!
 

Published by Tracy Louthain
Monday, September 11, 2023