By: Daniel Pascale, Esq.
Offices located in Delray Beach and Coral Gables, FL
Florida’s condominium laws change frequently and affect hundreds of thousands of unit owners in the process. During Florida’s last legislative session, the legislature enacted a number of changes to Chapter 718, Florida Statutes (Florida’s Condominium Law). The highlights of the 2013 amendments to Florida’s Condominium Law are summarized below:
Elevator Retrofitting: Associations do not have to involuntarily retrofit elevators pursuant to local ordinances unless their building’s elevator is replaced or requires a major modification.
Association Acquisition of Lands of Recreational Leases: Associations can now upon a vote of, or written consent by, a majority of the total voting interests or as authorized by the declaration as provided in s. 718.113, acquire lands of recreational leases.
“Insurable Event”: as defined in s. 718.111(11), has been clarified to include damage occurring to a portion of the condominium property for which the unit owner has responsibility.
Electronic Copying of Association Records: Pursuant to Florida Statute s. 718.111(12)(c), association members may now specifically use smart phones or any other electronic device to record association records (ipad, etc..).
Association Directories: unit owner directories may now include the name, address and telephone number of a unit owner (but a unit owner can exclude the telephone number via a written request), per s. 718.112(12)(c).
Annual Auditing Thresholds and Reporting of Association Finance: The thresholds and reporting requirements under s. 718.111(13) have been increased by $100,000 at each level.
Financial Reporting Requirements: financial reporting requirements can be waived by a vote of all unit owners, including the developer, from the date of incorporation through the end of the second fiscal year after the year of recording of the surveyor’s certificate of substantial completion or the recording of a deed to a unit that is not accompanied by a recorded assignment of developer’s rights, whichever occurs first, rather than being tied to the date of recording of the declaration.
Waiver of Reserves: The developer’s votes may be included in any vote for the Waiver of Reserves prior to developer transfer of control under s. 718.112(2)(f) through the end of the second fiscal year after the year of recording of the surveyor’s certificate of substantial completion or the recording of a deed to a unit that is not accompanied by a recorded assignment of developer’s rights, whichever occurs first, rather than being tied to the date of recording of the declaration.
Staggered terms for Election of Directors: staggered terms for the election of directors now only needs to be authorized in the articles of incorporation or bylaws (previously, there also had to be a unit owner vote). An individual who is not current in payment of all monetary obligations due to the association is not eligible to be a candidate and cannot be listed on the ballot.
If you have questions or are looking to speak with experienced real estate lawyers in Miami-Dade or Broward County, contact ESQ.title at 305-501-2836 and don’t forget to visit our website at JordanPascale.com.