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The Real Deal Miami

Florida homeowners associations scaling back on property management services

February 24, 2011 01:24PM

Florida homeowners associations and cooperative communities — particularly small ones — are increasingly going without property managers to cut costs, according to a new survey by the Community Advocacy Network. Large community associations are scaling back, too, by negotiating with their current vendors for lower prices or switching to cheaper property management companies. Among the nearly 800 residents surveyed statewide, the number of people who live in communities governed by associations paying less than $25,000 in annual property management fees rose by 3 percent from one year ago. Conversely, the number of people in communities paying more than $70,000 in property management fees per year was down by 3 percent year-over-year. Among those living in communities with 200 homes or fewer, 67 percent said their communities were self-managed, up from 54 percent one year ago. [Sun Sentinel]