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What does a condo association do in Florida?

The Condo Association as a Heavily Regulated Housing Authority Assess fees. Enforce the association bylaws. Grant waivers. Hire and manage condo staff and vendors. Investigate inquiries regarding violations, maintenance and other pertinent issues. Levy fines. Make decisions regarding litigation.

What is the highest HOA fee?

HOA fees tend to vary drastically, depending on the property or community. The fees range anywhere from $100 to $1,000 per month. The average, though, tends to be from $200 to $300 per month. The general rule that applies is the more services and amenities, the higher the fees.

How much are late fees for HOA in Florida?

47F-3-115; Fla. Stat. 720.3085(3). Late fees up to the greater of $25 or five percent of the past-due installment can be charged in Florida.

What is a condo in Florida?

Short for condominiums, condos are private residences in a multi-unit building. Owning a condo gives you full ownership of the individual unit and joint ownership of the common facilities and property, such as the pool, gym, laundry room, parking lot, elevators, and stairways.

What is the statute of limitations for HOA violation in Florida?

In Florida, the statute of limitations for bdocHub of contract (such as violating your HOA covenants) is five years. The time period within which the HOA could enforce the covenant has expired, at least as it pertains to those patios that were built more than five years ago.

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Is there a cap on HOA fees in Florida?

With some exceptions, Florida does not limit how high an HOA can raise yearly dues. Technically there is no limit to how much an HOA can raise dues each year in Florida. That said, within each HOAs CCRs there could be specific rules on raising dues.

Why are condo fees so high in Florida?

TAMPA, Fla. Floridas insurance crisis is rapidly trickling its way down from single-family homes to condominiums. Homeowners associations report insurance quotes are skyrocketing, leaving unit owners many on fixed incomes facing steep increases in monthly payments or even special assessments.

What is included in Florida condo HOA fees?

The condo fees are collected to pay for things like maintenance of the exterior of the condo, including insurance on the building, maintenance of the common areas, such as the grounds, swimming pool, and other amenities.

Who owns condo in Florida?

Florida condominiums are by definition considered legal entities, just like corporations. They have boards of directors, owners, financial budgets and reserves and creditors. Its different from single-family homes in that once you become an owner, you become part of this legal entity as just one of its unit owners.

What is a condo rider in Florida?

As written, the Condominium Rider provides a representation that the seller is not aware of any special or other assessment that has been: Levied by the association; That has been an item on the agenda; or, Reported in the minutes, of the association within the last (12) months prior to effective date.

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