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Dream Big!

Condo law changes went into effect July 1

By Meredith Caruso
 

July 17, 2017 – There were several changes made to Chapter 718, the Florida Statute governing condominiums, and all went into effect on July 1, 2017.

While not exhaustive, below is a list of July 1 changes that you may come across in real estate deals:

  1. 718.111(12)(c)(1) – A unit renter has a right to inspect and copy the association's bylaws and rules.
  2. 718.111(12)(c)(3)(g)(1) – by July 1, 2018, an association with 150 or more units (which does not manage timeshare units) must post digital copies of the required documents on its website.
  3. 718.116(8) – The association must issue an estoppel certificate within 10 business days of receipt of a written or electronic request for said certificate.
  4. 718.116(8)(a) – Any condominium estoppel certificate must contain specific assessment information, such as the regular periodic assessment and frequency; an itemized list of all assessments, special assessments and other moneys scheduled to become due; if there is a capital contribution fee, resale fee or other fee due and what the amount is; if there is a right of first refusal provided to the association or the members; and contact information for all insurance maintained by the association, amongst other things.
  5. 718.116(8)(b) – The estoppel certificate (sent via hand delivery or electronically) has a 30-day effective period (35-days if sent by regular mail).
  6. 718.116(8)(d) – If a requested estoppel certificate is not delivered within 10 business days, a fee may not be charged for the preparation and delivery of that estoppel letter.
  7. 718.116(8)(f) – The association may charge a reasonable fee for preparation and delivery of an estoppel certificate that may not exceed $250.00; if the certificate is requested on an expedited basis and delivered within 3 business days after the request, however, the association may charge an additional $150.00; an additional fee of up to $150.00 may also be charged for an estoppel certificate on a unit if a delinquent amount is owed.

The Florida Legislature also added other new condominium association rules this year. If a unit owner is denied docs and fraud can be proved, for example, it could be a felony; and board director terms are now limited to eight years with a few exceptions.

For complete info on July 1 condo law changes, refer to the bill, HB 1237, which Gov. Scott signed on June 26.

Meredith Caruso is Manager of Member Legal Communications for Florida Realtors

© 2017 Florida Realtors

 

Related Topics: Florida Realtors Legal News