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The state law, passed in 2022, requires associations to have sufficient reserves to cover major repairs.
The 2022 state condo law, known as SB-4D, and its 2023 follow-up, SB-154, establish three primary requirements: licensed inspections, reporting and disclosures, and reserve funds. Importantly, these laws are not tax legislation that directly increases housing costs on condo owners.
The records of the association shall be made available to a unit owner within 45 miles of the inium property or within the county in which the inium property is located within 10 working days after receipt of a written request by the board or its designee.
Florida Recorded Document Search - Visit the county recorder's office where the property is located to find an association's Declaration of Covenants, Conditions, and Restrictions (CC&Rs), Amendments to CC&Rs, Bylaws, Lien Notices, HOA Notices, Plats, Maps, and other community documents.
The Florida inium Act serves as a comprehensive legal framework governing inium ownership, management, and operation within the state of Florida.
A law passed in 2022 requires condo associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. As a result, older condos are facing hefty increases to association payments to fund these reserves and repair costs.
Gain board approval – Present the proposed amendments to the HOA board. Discuss the changes, address any concerns or questions the board members may have, and open the floor to also allow homeowners to ask questions. Then, hold a formal vote to approve the new rule or amendment.
Copies of the Articles of Incorporation and bylaws of the homeowners association can be obtained from the Florida Department of State, Division of Corporations. Copies of the governing documents may also be obtained directly from the homeowners association.