Every community association must prepare an annual budget and use that budget to determine the assessments to be collected for that year. The budget projects income and expenses, and since the budget is only an estimate of future expenses, unexpected events may occur that may prompt the board to make […]
For several years, the Florida Legislature has made condominium reserve issues a priority, continuously revising laws to address and clarify the requirements. With House Bill 913, which has now been in effect for a few months, new reserve mandates and options have been introduced for condominium associations. Some of the […]
“Classic Condo Cases” is a new, continuing series in which we look back at precedential Court opinions and discuss why each decision is important for community associations throughout New Jersey. Siddons v. Cook and Country Place Condominium Association, 382 N.J. Super. 1 (App. Div. 2005) Quick Take: Community associations have […]
As we all know, time is money. That is especially true when seeking legal advice for your community association. A lawyer’s time and advice are their stock in trade. Often, community association communications are lacking in details and factual content necessary for your attorney to render timely and thorough legal […]
Under a new Florida law, condominium boards must simultaneously provide a substitute budget when proposing an annual budget that exceeds 115% of the previous year’s budget. This substitute budget must exclude discretionary expenditures not required to be in the budget.
