This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Bylaws Condo Association With Low Reserves In Miami-Dade
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State:
Multi-State
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Miami-Dade
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US-00452
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Word;
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FAQ
This is called “repair and deduct.” Miami-Dade County Code Section 17-177. To repair and deduct you must take these steps: Miami-Dade Specific Rights: If the landlord will not accept your rent, save the rent and do not spend it.
17D-3. - Community associations required to register. The name of the community association, which shall include the name registered with the Florida Division of Corporations in addition to any fictitious names that the community association utilizes.
8C-3. Illumination for open parking lots, alleys and access thereto and parking and nonenclosed areas under or within buildings. (a) Generally: Open parking lots, alleys, and access thereto shall be illuminated as set forth below.
Answer: As of 2024, Florida law requires all condos over three stories to conduct mandatory building inspections and a Structural Integrity Reserve Study (SIRS) every 10 years. Additionally, associations can no longer waive or reduce reserve funds, ensuring they are fully funded to cover future repairs.
17-03. - Required written fair notice of termination of monthly residential tenancy without specific duration and written notification requirements related to rental payment increases for all residential tenancies.
Answer: As of 2024, Florida law requires all condos over three stories to conduct mandatory building inspections and a Structural Integrity Reserve Study (SIRS) every 10 years. Additionally, associations can no longer waive or reduce reserve funds, ensuring they are fully funded to cover future repairs.
The Florida Homeowners' Association Act also provides guidelines for establishing a reserve fund but doing so is not mandatory. If your HOA has one, the reserve budget acts as a savings account for large projects that don't happen annually. Major repairs and projects are funded through this fund.
The legislation requires condo associations to maintain reserve funds specifically allocated for structural repairs and maintenance. These funds must be determined based on reserve studies conducted every ten years, as outlined in SB-4D.
Having well-funded reserves is not only smart planning, but it's also now a legal requirement in Florida. As your community prepares for the future, inium Associates is here to ensure your reserves are compliant and your finances are in order.
The board of administration shall be composed of five members unless the inium has five or fewer units. The board shall consist of not fewer than three members in iniums with five or fewer units that are not-for-profit corporations.