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Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have ...
Under Davis–Stirling, a developer of a common interest development is able to create a homeowner association (HOA) to govern the development. As part of creating the HOA, the developer records a document known as the Declaration of Covenants, Conditions, and Restrictions against the units or parcels within the HOA with the county recorder.
Some savvy condo associations were already anticipating this likelihood months ago; 2023 was a banner year for condo owners selling to developers. Bulk condo unit acquisitions, though difficult to ...
Here’s what HOAs in Florida can and can’t do to their residents under the new Florida HOA laws and which HOA rules residents can legally fight.
According to the Community Associations Institute, between 22 and 24 percent of the entire U.S. population in 2017 lived in community associations. The two leading states with CIDs are California, where around 9,327,000 people lived in a CID, and Florida, where about 9,753,000 lived in a Community Interest Development. [6]
Special assessments often require a homeowner-vote if the amount exceeds a prescribed limit established in the association's by-laws. In California, for example, a special assessment can be imposed by a board, without a membership vote, only when the total assessment is five percent or less of the association's annual budget. Therefore, in the ...
Not surprisingly, condo listings are up across the state of Florida. According to Florida Realtors, as of November 2024, new listings of condos and townhouses rose by 5.5% year-over-year. And ...
Florida is second in the nation for the most homeowner associations. But what do HOAs do? Can homeowners opt out? And what are the new HOA laws?
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