Q: I own a condominium unit in Florida that I rent out. I heard there is a new law about disclosing flood history to my tenants. I personally have not filed any insurance claims regarding this unit, but I am aware that the condominium association filed a claim for flood […]
Q: Is a motor home/RV considered a “personal vehicle” under the Florida Homeowners’ Association Act? Some motor homes require a commercial driver’s license. (A.K-K, via e-mail) A: The basic issue you raise involves a series of recent amendments to Chapter 720 of the Florida Statutes, known as the Florida Homeowners’ […]
Q: Our condominium consists of a number of buildings with two residential floors with covered parking underneath. It is my understanding that the prior statutes allowed associations to partially fund the reserves. Fully funding the reserves through increased quarterly payments or a sizable special assessment will impose an unnecessary hardship […]
Q: Can you explain how a condominium association’s budget is made and presented? What is the difference between operating expenses and reserves? What are straight-line and pooled methods for reserves? (J.D., via e-mail) A: In last week’s column, I answered parts of this question by explaining the differences between operating […]
Q: Can you explain how a condominium association’s budget is made and presented? What is the difference between operating expenses and reserves? What are straight-line and pooled methods for reserves? (J.D., via e-mail) A: A condominium budget is a formal, forward-looking financial plan that estimates the association’s revenues and expenditures […]
