This is an excellent example for:


Summary of Assessments and Collection Procedures

as found in FL State Law, Chapter 718 and Association Documents


Payment Schedule


1.       Annual Assessments are due and payable in advance or on January 1st of each year or in quarterly payments on January 1st, March 1st, June 1st, and September 1st of the year. After the 10th of such dates, lack of payment will be considered delinquent.

2.       If a Unit Owner defaults in payment of an installment (i.e., quarterly payments), the Board may accelerate the remaining installments and the accelerated assessment immediately becomes due upon the date stated in a notice to the unit owner (not less than 15 days). 


3.       Special assessments are due and payable on the date determined in the notice by the Board of Directors. They are subject to items 1 and 2 above. 


4.       Assessments must be paid even if the owner is not using or has moved out of and still owns his/her unit. § 718.116 (1)(a), FS. § 718.116 (2) FS.


Delinquency Notification Process


5.       For all balances that are ten (10) days past due, the following notification process applies:


Initial Phone Contact. Phone calls will be made within the 10 day grace period to remind unit owners of payment due. If payment arrives in a timely manner, nothing more need be done.


First NoticeFirst Notice of Past Due Charges including detail of assessments, late fees, NSF charges, interest and other charges that apply will be sent by First Class Mail to an owner whose balance is ten (10) days past due.


Second NoticeSecond Notice of Past Due Charges including detail of assessments, late fees, NSF charges, interest and other charges that apply will be sent by First Class Mail Certified with Return Receipt Requested to an owner whose balance is thirty (30) days past due.


                This is a 10 Day Demand for Payment and includes Notice of Intent to Lien at sixty (60) days past due. A lien will be filed after 60 days plus 5 days for demand payment. Notice will include intent to turn the matter over to an attorney for collection enforcement if balance is not paid within 10 days. Send Certified mail with Return Receipt Requested. § 718.116 (6)(b), FS.


Legal Services.


6.       If a delinquent account is referred to an attorney for collection, the owner shall be charged the Association's reasonable attorney fees and related costs.

7.       All legal expenses related to collection including, but not limited to, attorney fees and court costs associated with lawsuits incident to collection of assessments or enforcement of the Association’s lien by foreclosure will be the responsibility of the unit owner.  § 718.116 (5)(a) FS.

Late Fees, Not Sufficient Funds (NSF) & Interest Charges


8.       Any balance older than 30 days will incur an interest charge of 10% per month until paid. § 718.116 (3) FS.

9.       Failure to pay any assessment within ten (10) days from the date due entitles the Association to levy a $25.00 late charge. § 718.116 (3) FS

10.    Payments received shall be first applied to interest accrued; then to late charges; then to attorney fees incurred; and finally to the principle balance of the delinquent assessment or assessment installment. § 718.116 (3) FS




1.      Lien for Assessments.  All assessments levied pursuant to this Policy, together with interest thereon and actual costs of collection, constitute a lien on such unit and on the undivided interest in the common elements appurtenant thereto, in favor of the Association, provided that a statement of lien is filed within two (2) years after the date on which the assessment becomes due.  The lien is effective against the unit at the time the assessment becomes due regardless of when within the two (2) year period it is filed.  A statement of condominium lien signed and verified by a director of the Association is filed in the office of the Clerk of Circuit Court of Broward County and shall contain the legal description of the unit, the name of the record owner thereof, the amount of assessment due and the period for which the assessment was due.  Upon full payment of an assessment for which the lien is claimed, the unit owner shall be entitled to a fileable satisfaction of the lien.


2.      Such lien shall be superior to all other liens and encumbrances on such unit, except only for:


(a)  Liens of general and special taxes.


(b)  Liens of a first mortgage recorded prior to the making of the assessment.


(c)  Construction  liens  filed  prior  to  the  making of   the assessment.   


All other liens created after the date of the recording of this Declaration shall be inferior in priority to liens of the Association for any assessment, whether or not so specifically set forth in the instruments creating such liens. § 718.116 (3) FS


  1. Enforcement of Lien.  A lien may be enforced and foreclosed by the Association in the same manner and subject to the same requirements as a foreclosure of mortgages on real property.  The Association may recover costs and actual attorney fees and may bring suit for any deficiency following foreclosure in the same proceeding. § 718.116 (3) FS.


With small changes this can as well be used for homeowners' associations!