The state law, passed in 2022, requires associations to have sufficient reserves to cover major repairs.
The Florida inium Act serves as a comprehensive legal framework governing inium ownership, management, and operation within the state of Florida.
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.
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.
Section 718.110(14), Florida Statutes, applicable to iniums, provides that: “An amendment prohibiting unit owners from renting their units or altering the duration of the rental period applies only to unit owners who consent to the amendment and unit owners who acquire title to their units after the effective ...
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.
Under new state regulations, iniums must maintain financial reserves for major repairs and conduct structural inspections for buildings three stories or taller. Gov. Ron DeSantis signed the law in response to the partial collapse of Champlain Towers South, which killed 98 people in Surfside in June 2021.
Long-term rentals of houses may not require a state license or local permit. Florida, however, requires a license for a vacation rental or transient public lodging establishment.
The Florida Homeowners' Association Act, Chapter 720 of the Florida Statutes, states that amendments to “governing documents” for homeowners' associations are not effective until they are recorded in the public records of the county in which the community is located.