The Florida Condominium Act says that “any unit owner or other eligible person” may be a candidate for the board of directors. An individual is not eligible for board membership if the person has been suspended or removed from the board by the State, is delinquent in the payment of monetary obligations to the condo, or has been convicted of a felony, unless his civil rights have been restored for at least five years as of the date such person seeks election to the board.
Collections for condos and HOAs require you to consider this, The Fair Debt Collection industry has established an objective test based on “the least sophisticated consumer”. The purpose of this is to protect consumers. Some are Harvard Graduates and others are less educated and there are always the very clever.
Yikes,Mr. Collections Man:
our community association has some members who are not paying their maintenance fees and our attorney bills are already more than what is owed. Is there no other way to collect these fees without spending more money.
Sleepless in Saratoga
Dear Sleepless in Saratoga:
Of course there is a way to recover your money but your board of directors needs to think out of the box. Your attorney is working hard but all that he/she can do is put a lien on the unit and if you want to become landlords foreclose on the unit and recover your money from rental revenue. Maybe, that is not such a good idea because if a bank forecloses its possible that all you will recover is the safe harbor amount of the lesser of 12 months or 1% you will be out of a lot of legal fees.
A condo that will remain anonymous has a unique problem that may not at first glance seem like a dilemma but let me assure it is. They have over three hundred and fifty thousand dollars in the bank. The bad news is that money is in an escrow account from renters in case their tenancy results in damages or fines. That’s a one thousand dollar deposit for each and every renter. It is interesting to note that the building only has three hundred units and let’s say it has 70% renters (210 apartments) as occupants. That means there is at least one hundred and forty thousand dollars that should have been refunded to the renters (minus damages) but never were, and are sitting in the association’s bank account.