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An association’s budget must include reserve accounts for capital expenditures and deferred maintenance HOA Q&A: Do 1- or 2-story condos have to be fully funded by 2024? Skip to main content
The 2021 tragedy of the Champlain Towers South condo in Surfside, in which 98 people died and countless lives were shattered, resulted in new state laws to prevent future condominium catastrophes ...
Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have ...
The Florida Statutes are the codified, statutory laws of Florida; it currently has 49 titles. A chapter in the Florida Statutes represents all relevant statutory laws on a particular subject. [1] The statutes are the selected reproduction of the portions of each session law, which are published in the Laws of Florida, that have general ...
The guidelines made reserve studies mandatory for all newly converted, non-gut rehabilitation condominium developments to be eligible Fannie Mae project approval. [18] All other types of condominiums have the option to submit a compliant reserve study or must add a budget line item for reserves equal to 10% of the yearly assessment income.
Condominiums in Hungary are traded and mortgaged on the same market as any free-standing single-family home (Hungarian: kertesház; "garden-house"), and are treated much like other forms of real estate. The condominium acts as a non-profit legal entity maintaining the common areas of the property, and is managed by a representative (Hungarian ...
In response, many condo owners are opting to sell their units. The Wall Street Journal reported in May that condos for sale in South Florida have doubled since the first quarter of 2023, to 18,000 ...
On Jan. 29, 2008, voters approved an increase to $50,000 for non-school assessments, which is incorporated in Florida Statute §196.031. The reduction contained in Florida Statutes should not be confused by the Florida Constitution homestead exemption which protects the homestead from forced sale except under certain circumstances.