Tag Archives: Condominium Associations

Condominium Development: Condominium Prospectus Requirements in Florida

Florida’s condominium market has gained strength in the past five years; traditional sales are up, and prices are rising.  In Northeast Florida, Condominiums and Townhomes spent an average of 11 fewer days on the market than single-family detached homes.  As … Read Full Post

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Thirteen Things You Need to Know About Florida Condominium Association Emergency Powers

In Florida, condominium living is a way of life.  Many of the state’s condominiums are located in places where they can capture a view and typically that means they are close to the water.  In Florida, we also have hurricanes.  … Read Full Post

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Community Association Reserve Funding: Pooled Method vs. Component Method

Reserve funding for certain common element items is required for community associations under Florida law. Specifically, condominium associations must fund reserves for roof replacement, building painting, pavement resurfacing and any other item that has a maintenance expense or replacement cost exceeding $10,000. Fla. Stat. § 718.112(2)(f). For homeowners’ associations, if the developer initially established reserve accounts or the members affirmatively elect to provide for reserves, then the association must fund those reserve items in future budgets. Fla. Stat. § 720.303(6)(b). Read Full Post

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Your Homeowners’ Association May Not Be Taking Advantage of a Favorable Tax Break

A major expense for many homeowners’ and condominium owners’ associations is the cost of the utilities for common areas of the communities. The good news for such associations, however, is that they are entitled to an exemption for the sales tax related to their utilities as long as a few requirements are met—a fact of which many associations are not even aware. Read Full Post

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Community Association Managers Beware: Unlicensed Practice of Law

Community Association Managers (CAMS) in Florida are vital to the survival of condominium associations and homeowners’ associations. Associations and their board members rely on CAMS to ensure the associations run smoothly. CAMS must be licensed through the Florida Department of Business and Professional Regulation, and are governed by the Florida Statutes and the Florida Administrative Code. See Fla. Stat. 468.431-461.438 and Florida Administrative Code 61E14-2.001.
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Condominium Associations Suffer Financially When Failing to Amend Their Declarations

In 2014 the Florida Condominium Act (the “Act”) was amended to make it easier for Condominium Associations to recover past-due assessments from third-party purchasers at a mortgage foreclosure sale.  The longstanding Florida law is that a condo unit owner is … Read Full Post

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Is Your Community Association Board Making Sound Decisions on Your Behalf?

The directors of Florida community association are obligated to discharge their responsibilities to the community in good faith. Board decisions are generally protected by the “business judgment rule” and the theory behind the business judgment rule is that Courts should not substitute their judgment for the judgment of the elected or appointed board members. Simply stated, Courts must give deference to a community association’s decision if that decision is within the scope of the association’s authority and it is reasonable – that is, not arbitrary, capricious, or in bad faith. Read Full Post

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Why Community Associations Cannot Afford to Ignore Lender Foreclosure Actions: Part III

By Hans C. Wahl, Esq.

This blog post is part III in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions. The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and main sources of revenue. Part I explained that associations have the statutory power to expedite the foreclosure process when lenders are delaying and also illustrated that by implementing a consistent policy for appearing in lender foreclosure actions and expediting the legal proceedings, associations can save tens of thousands of dollars over the years. Part II addressed the unclaimed revenue in the form of foreclosure sale proceeds that associations fail to capitalize on due to not appearing in lender foreclosure actions. This blog post will discuss the advantage associations have in determining, during the foreclosure action, whether the lender is entitled to safe harbor protection or whether the foreclosing entity owes the full amount of unpaid assessments and other charges to the association. Read Full Post

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Why Community Associations Cannot Afford to Ignore Lender Foreclosure Actions – Part II

By Hans C. Wahl, Esq.

This blog post is part II in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions. The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and main sources of revenue. Part I explained that associations have the power, under the Florida Statutes, to expedite the foreclosure process when lenders are delaying. Part I also illustrated that by implementing a consistent policy for appearing in lender foreclosure actions and expediting the legal proceedings, associations can save tens of thousands of dollars over the years. This blog post addresses the unclaimed revenue in the form of foreclosure sale proceeds that associations fail to capitalize on due to not appearing in lender foreclosure actions and asserting their priority lien rights. Read Full Post

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Drones in Community Associations – Part II

The previous blog post, “Drones in Community Association – Part I,” discussed the association’s regulation of the use of drones throughout and within the community.  This post will discuss the potential for associations to utilize drones in everyday management and … Read Full Post

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