In Florida, the average homeowners association member pays anywhere from $100 to $500 in HOA fees per month. With a new Florida bill in place, this could change.
HOA fees and fining practices are under fire in the state of Florida some communities have tried to take advantage of their members. If you are part of a community association, it's important to stay compliant with the new laws.
Keep reading to learn more about HOA fees and the new bill.
HOA Fees in Florida
In some Florida HOA communities, residents must pay mandatory membership fees. The board of directors typically uses a monthly or annual fee structure to pay for community maintenance.
The old laws allowed HOA boards to fine members for not complying with community rules and regulations. However, leaders of a Homeowner's Association in Miami were accused of fraud and theft of up to two million dollars.
Since then, Florida lawmakers have approved a bill that some are coining as the "Homeowners' Association Bill of Rights."
New Florida HOA Bill
Under Florida's new HOA laws, community members can't get suspended or fined for violating the association's rules or bylaws unless they receive a two-week notice.
These notices have to be stored in the HOA's governing documents as well.
A member will receive this notice in their email or to their mailing address. HOA members can designate an address other than their physical address for notices, which is why they can receive notices by email now.
While this is the biggest change from the HOA bill, it also regulates board meetings, financial deposits, fee collection, and HOA member voting. These are the specifics of the HOA bill:
- Requires notices for board meetings to identify each agenda item
- Financial deposits cannot be used for other association funds
- HOA members can request records of what fees they pay
- The association must return unused funds within a month
- Requires HOAs to provide instructions to members on how to fix a violation
- Associations cannot prevent board members from voting
Influencing an HOA board member's vote in any way (using threats or bribes), is a first-degree misdemeanor in Florida.
What Do HOA Fees Cover?
The cost of living in an HOA home varies by city or state. HOA fees are beneficial to the community you are a member of because they can cover the cost of maintaining and updating common areas.
Generally, fees are collected to cover the cost of:
- Property maintenance and landscaping
- Energy expenses in common areas
- Insurance costs
- Funding the reserves
- Maintaining HOA amenities like pools and tennis courts
An HOA property management company can help your association develop and maintain an annual budget that complies with the new Florida bill.
Working With an HOA Property Manager
HOA fees and fining practices are under scrutiny this year. That's why Florida implemented the "Homeowners' Association Bill of Rights" to protect members from theft and fraud.
HOA fees are still necessary to keep your community thriving and maintained, but you now have to ensure you are staying compliant with the laws. This is where PMI Broward Sunrise can help.
Our HOA property managers have the expertise to collect and handle fees, budgeting, and other HOA responsibilities to improve your community. Contact us today to discover how we can work with your HOA board.
