HOMEOWNERS' ASSOCIATIONS EDUCATION
SPECIAL ASSESSMENTS IN DEVELOPER-CONTROLLED HOAs
In the light of recent events and inquiries, here is an important reminder for all homeowners living in developer-controlled homeowners' associations regulated by FS 720.
As part of Senate Bill 1196 the Florida legislature passed during the 2010 session -- effective July 1, 2010 -- this new addition to the Florida statutes regulating homeowners' association:
This provision PROHIBITS developers from levying special assessments without the prior vote of approval by a majority of OWNERS OTHER THAN THE DEVELOPER at a duly called special meeting of the membership at which a quorum is present.
If a special assessment is announced by a developer-controlled board, make sure they follow the rules -- see above. And if you feel that NO special assessment should be levied, make sure that you and your neighbors attend the special meeting -- and vote NO.