SB 1196 Includes New Remedies for Collecting Money Owed to Associations, but Unanswered Questions May Create Liability Exposure. Community leaders and managers have complained for years about investor owner delinquencies. Why should the owner continue to collect rent from his or her tenant without paying maintenance fees and/or assessments?  Sure, both the Condominium and Homeowners Acts allowed the association to apply to the Court to request the appointment of a [...]
Associations have new enforcement mechanisms available - due process requires careful planning & paperwork for associations to take advantage of these new remedies effectively.  Condominium Associations: Up until now condominium associations had to have authority to levy fines in the recorded governing documents and did not have the ability to tell delinquent owners to stay out of the pool or gym. That changes as a result of SB 1196. After July 1, 2010 (the effective date of the[...]
Altamonte Springs, Orlando: The Village town homes have just a dozen developer units left for sale. Half of these are 2/2 townhomes. One-bedroom condos (826 SF)Â start at just $69K (used to be $149K), with 3/2 town-homes (1465 SF) retailing at just $95K (used to be $250K). Pay no commission through Condo Metropolis and get your HOA dues paid for one year and a home warranty! Maybe even some $$ towards your closing costs. Investors looking to take all 12 may qualify for special pricing. [...]
The law isn't even effective yet and everyone wants to know where, when and whether they need the "board certification" required by the changes to §718.112(2)(d), Florida Statutes in SB 1196. All good questions but please let me clarify - condo directors elected after the effective date of the law either need to provide the association with a certificate containing various representations or evidence they have completed an education course. The statute says: (Click here to [...]
Lofts & 1-bedrooms starting at $1070 2's starting at $1638 3's starting at $2185 $500 off if you move in by July 15th! Valid only until 5pm tomorrow! Â For more info on 55 West at the Esplanade condominium see our 55 West page. See also our Downtown Orlando condos page for more info on all of the downtown Orlando condominium opportunities.
We don't normally deal outside of the Orlando metro area but here's an opportunity in Fort Meyers. This is an Exclusive offer for Cash Buyers. This is a beautiful development that is very popular for its close proximity to schools, universities, hospitals, shopping and the beaches. The interstate is just 5 minutes away allowing easy access to Southwest Florida International Airport and many workplaces around. We have secured a selection of spacious and newly refurbished one, two and three [...]
Thank you everyone for the thoughtful questions and comments regarding SB 1196. I have literally received hundreds of questions and comments over the past week - either through this site or by email. Since many of the questions relate to the same issues, I'd like to share some of the responses. QUESTION:  Rumor has it that the Governor has a bill before him that would raise the voting approval to 75% for apparently new Condo and/or HOA amenities. True or false? RESPONSE: [...]
Question: Our board requested a special assessment of $7,000 for roof repair and exterior painting. After failing to get the required vote, the board increased the monthly fees by 33%. Can it do that? Answer: The answer depends on requirements of the governing documents. It is not uncommon for the governing documents to require a vote of the members to authorize a special assessment but not to approve the annual budget. The advantage of using a special assessment to pay for renovation is that [...]
Governor Crist had until June 1, 2010 to act on SB 1196. While I have included bullet point explanations of some of the changes, over the next few weeks please check for more in depth information about how these new provisions will impact your association's operations. Attention: If you are a non-paying, non-resident unit owner and lease your unit, the association may demand future payments of rent from the tenant to satisfy your financial obligations, without filing a lawsuit[...]
The recent Winter Park condo auction at the Douglas Grand was scrapped last week in favor of dealing directly with the most serious buyers who had expressed interest. The Metropolitan and Dorchester townhomes are being offered at $399K. That's between $140 and $147 per square foot, not bad for a brand new condo in Winter Park! However only 2 will be offered at this post-auction price point so if you're in the market for a new condo in one of Orlando's most prestigious neighborhoods [...]