As you may know, there have been substantial changes to the laws that affect condominium associations. As of yesterday, July 1, 2010, the following laws have taken effect. Please note that the below items are a summary of the actual law. If you want additional information on any of the below items, please contact me.
1. Collecting Rent Directly from Tenants: Section 718.116(11) was added to the Condominium Act. It states as follows: If the unit is occupied by a tenant and the unit owner is delinquent in paying any monetary obligation due to the association, the association may make a written demand that the tenant pay the future monetary obligations related to the condominium unit to the association, and the tenant must make such payment. The association may sue to evict the tenant as if the association were a landlord if the tenant fails to pay a required payment to the association. A tenant who acts in good faith in response to a written demand from an association is immune from any claim from the unit owner.
2. Denial of Common Areas: Associations are now allowed to deny owners or occupants the use of common areas and recreational amenities (not to include utility services, elevators or parking spaces) when the owner is more than 90 days delinquent in paying financial obligations due to the association and may deny the owner's voting rights.
3. Past-Due Assessments on Foreclosures: Lenders are now required to pay twelve (12) months or 1% of the mortgage, the lessor of. This is an increase from the six (6) months or 1% of the mortgage, the lessor of.
4. Sprinkler Systems: The requirement for mandatory retrofits of sprinkler systems in condos over seventy-five (75) feet high has been removed.
5. Insurance: The provision that required every individual unit owner to obtain hazard insurance has been repealed.
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