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Frequently Asked Questions - Lago Mar Colony FAQs Categories
General FAQs
Where is Lago Mar Located?
How much is the regular assessment charged by the Association and when are the payments due?
What expenses do the regular assessments cover?
Does Lago Mar maintain a separate reserve fund?
Do Lago Mar residents have to become members of the Lago Mar Country Club?
Does Lago Mar have any restrictions on pets?
What are residents required to repair and maintain?
Are there any restrictions against commercial vehicles?
Are there restrictions on owners renting out their homes?
Does the Association have to approve changes to the exteriors of homes?
Answers
General FAQs
Question:
Where is Lago Mar Located?
Answer:
Lago Mar is located in West Plantation in Broward County, Florida. The entrance to the community is located off of Broward Boulevard about a 1/2 mile west of Flamingo Road.
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Question:
How much is the regular assessment charged by the Association and when are the payments due?
Answer:
Regular assessments are due quarterly and for 2018 will be $512 per quarter for each home and $256 per quarter for each condominium unit. Quarterly assessments are due on January 1, April 1, July 1 and October 1. Payments should be made payable to Lago Mar Colony Protective Association and sent to Hacker & Romano, 3300 N. 29th Avenue, Suite 102, Hollywood, FL 33020.
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Question:
What expenses do the regular assessments cover?
Answer:
Regular assessments cover all of the community's common expenses including guardhouse security, maintenance of all common areas such as common area mowing and landscaping, repairs etc. Security and common area landscaping account for about 75% of the Colony's annual expense budget.
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Question:
Does Lago Mar maintain a separate reserve fund?
Answer:
Yes. A certain amount of money is set aside from each year's budget to an unallocated reserve fund. For 2007, $25,000 will be contributed to the Colony's reserve fund which is maintained in an interest-bearing money market account at a local bank. The reserve fund is used to help pay for unanticipated expenses like those incurred to clean-up the neighborhood after Hurricane Wilma. Because the Colony had funds in reserve after Wilma, we were able to have the neighborhood cleared and cleaned up quickly and also did not have to levy a large special assessment or take a loan. Reserve funds may also be used when the Colony undertakes a large capital project such as when we renovated the guardhouse several years back.
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Question:
Do Lago Mar residents have to become members of the Lago Mar Country Club?
Answer:
All residents that purchased their home or condo after November 1, 2003, must apply for and maintain at least a Social level membership at the Lago Mar Country Club. For more details, please review the 3rd Amendment to the Declaration of Covenants which can be found in the Documents section of this website under the 'Documents' tab.
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Question:
Does Lago Mar have any restrictions on pets?
Answer:
No. Lago Mar does not have any restrictions on pets, but does require pet owners to clean up after their pets. Pet owners are also subject to city ordinances regarding such matters as leashing their dogs as well as Lago Mar's general rules against nuisances.
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Question:
What are residents required to repair and maintain?
Answer:
While the Association maintains common areas, roads, guardhouse etc., all homeowners are required to maintain their own homes and properties. Condominium residents are subject to an additional set of rules under their condo documents and should refer to those documents for more specific information as it relates to them.
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Question:
Are there any restrictions against commercial vehicles?
Answer:
Yes. Commercial vehicles may not be habitually parked in Lago Mar. Commercial vehicles include cars, trucks or other vehicular equipment bearing a sign of or displaying some reference to a commercial enterprise or business.
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Question:
Are there restrictions on owners renting out their homes?
Answer:
Yes there are. An owner that wants to rent out his or her home must contact the Board of Directors and follow the procedures outlined by the Association's governing documents. An application nees to be completed by the prospective tenant(s) and there is a specific lease addendum between the Association, the owner and the renter that must be executed.
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Question:
Does the Association have to approve changes to the exteriors of homes?
Answer:
Yes. Any change, improvement or alteration to the exterior of any home or homesite should be submitted in writing to the Association for review and approval by the Architectural Review Committee.
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