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 […]
Q: I recently bought a condominium unit. While reviewing the documents, I noticed they include a survey and some diagrams, but they did not seem very detailed and were very blurry and hard to read. Are these important? I want to be sure my ownership rights are properly documented. (J.D., […]
Q: Does the Florida condominium law regulate what has to be in management contracts between the management company and a condominium association? (J.D., via e-mail) A: Yes. While the law does not generally regulate the “business terms” of management contracts (such as price), there are a number of laws that […]
Q: I own several parcels of unimproved land within a condominium development. Recently, the condominium association sent me a bill for unpaid assessments, saying that these lots are considered “units” and therefore subject to assessments. I am unsure whether I am actually required to pay these assessments for my unimproved […]
Q: In 2024, you wrote about that year’s amendments to the condominium statute regarding personal delivery of audit reports to all owners. This is very expensive and seems to be an excessive burden to condominium associations, since most owners are not interested in these lengthy reports. Have any changes been […]
