A Condominium Assessment Lien is One of Your Best Tools to Collect What’s Due
Reading Time: 2 minutes
Florida Condominium Associations and Homeowners Association Boards have many challenges in managing the needs of their communities. As a result, when unit owners refuse to pay their assessments, it puts everyone in a bind. Fortunately, there is a key tool that you may use in Florida to compel payment of the monies due: a condominium assessment lien. This video presentation was recorded by Jimerson Birr Co-Founder Christopher M. Cobb to provide a clear road-map for the steps an HOA or COA can take to bring everyone current.
The presentation can be accessed by visiting YouTube or clicking play on the embedded image below. The length of the presentation is 9:11.
https://youtu.be/KoBA-VA4ETo
The Difference Between Assessments, Who Pays, And What Can Be Charged By Florida Condominium Associations
Chris begins by contrasting general assessments from special assessments, and explaining the importance of their collection. He talks about who is responsible for making payment under the law, as well as what a condominium association may collect from each delinquent owner in addition to the assessments:
- Interest
- Late fees
- Attorneys fees
- Additional costs
Five Steps For Collecting Assessment Revenue Through A Condominium Assessment Lien
There are several steps that must be taken in order for a condominium association lien to be properly filed. This is a brief summary of the steps:
- Delinquency Notice
- Notice of Intent to Lien
- Claim of Lien
- Notice of Intent to Foreclose
- Foreclosure Action
It is imperative that all these steps are followed to the tee or the lien may be dismissed outright. In addition to these steps, Florida condominium associations can take additional steps such as suspending unit owner common element or amenity rights.
Time Is Money
Under Florida State Law, only an attorney may draft a condominium assessment lien, because it contains a legal statement. Once the lien is filed, there is a one year timeline for Florida condominium associations to file suit, or can be dismissed. Therefore, it is paramount that the steps are followed properly, and in a timely fashion, or you may forfeit what is due to the community.