A well-run homeowner’s association can play an impactful role in maintaining property values and keeping a neighborhood quiet. A poorly managed HOA can cause the value of your home to go down, forcing you to spend more money than you would have needed to otherwise. HOAs are intended to establish respectful and healthy relationships with homeowners so that they are mutually beneficial. If you suspect that your rights have been violated by an HOA, COA, or a neighbor living near you, then contact Perez Mayoral, P.A. for further assistance. Our Florida Chapter 720 Statute lawyer is ready to speak with you.
Chapter 720 of the Florida statutes controls and empowers the ability of HOAs to enforce rules. Compared to Chapter 718, which is for COAs. Chapter 720 and 718 are alike in many ways, but there are some differences. These statutes give power to HOAs and COAs, but it also restricts what they can do as well. For instance, homeowners and condominium owners have the right to peacefully assemble, request official Association records, display the U.S. flag, and recall the Board. Even with these statutes, each association is different. The rules for a community should be established by the community itself, not politicians. Associations must always abide by the statutes that govern them.
It is important for homeowners and condominium owners to be informed about what the responsibilities of associations are. Ultimately, an HOA or COA develops regulations and guidelines for all members, with the intention to provide structure and peace to the community while also enhancing property values. The HOA ensures the community is pleasant to live in and stays well-maintained. As our knowledgeable Chapter 720 Statute attorney can discuss with you, the duties of an HOA or COA may include, but are limited to, the following:
- Create and approve conditions, rules, covenants, and bylaws
- Amend old rules and regulations when needed
- Enforce penalties for residents who fail to comply with rules in the form of fines and/or legal action
- Hold meetings for members, hear their concerns, decide voting matters, elect a new Board member, etc.
- Schedule meetings for the Board of Directors
- Plan social activities or events
- Communicate with property managers, homeowners, attorneys, and other personnel
- Keep and maintain financial records
- Collect assessment fees
- Seek collections from homeowners who fail to pay their assessments timely
- Maintain a fund reserve
- Budget for neighborhood upkeep
- Allocate spending for insurance coverage
- Respond to emergencies
- Schedule inspections
- Collect bids from contractors
If you are a homeowner or condominium owner who has questions about HOA or COA statutes, then contact Perez Mayoral, P.A. at your next convenience. We understand that you want your neighborhood to be a peaceful living environment where your home value only goes up. We know it can be frustrating dealing with associations on your own, so please let us help. Our Florida Chapter 720 Statute attorney is ready to take your call or email.
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