Law Changes For Associations
We get asked every day by clients about recent law changes that affect associations. A lot of people are confused, and rightfully so. In the last 2 years there were major changes to FS Chapters 718 and 720. Then we were all geared for more changes that would also amend and correct some of the previous laws – only to have Governor Crist veto those law changes.
The following is a summary of changes that affect us today:
- Management Companies that manage Community Associations must be licensed by the DBPR (not just the State of Florida).
- Any person or firm managing condominiums with 10+ units or a budget of $100,000 must be licensed by the DBPR.
- Co-owners of a unit may not serve on the Board together.
- No Association owned unit’s vote may be considered.
- Owners who are 90 days or more delinquent with assessments may not serve on the Board.
- Any Director 90 days past due in maintenance is considered to automatically have abandoned their position.
- Directors removed or suspended by the DBPR may not serve on a Board.
- Records must be kept within 45 miles or within the county of the condominium.
- Specific wording required to waive or reduce reserves & on proxies.
- Certain religious decorations are now allowed.
- Hurricane shutter specifications and responsibility for maintenance was clarified.
- Condominiums greater than 3 stories must be inspected by an architect every 5 years.
- Officers, agents and members of the Board of Directors are required to adhere to a “good faith” and “reasonably prudent person standard” and provides for monetary damages and criminal penalties for breach of this standard.
Get ready for more law changes that are winding their way through the Florida Legislature, as we speak. Right now, most bills being considered are of a financial nature dealing with the foreclosure crisis and collections.
{ 1 trackback }
Comments on this entry are closed.