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Differences in Fees Between Florida Condominium & Homeowners’ Associations
Timeshare Defense Attorneys explain the differences in fees between Florida condominium & homeowners’ associations. Learn more here!
Florida Homeowners Association and Condo Fees Distinguished
Suppose you’re purchasing or have purchased a timeshare. In that case, you’ll be required to pay specific fees and maintenance costs annually, including those determined by the Homeowners’ Associations (HOAs) or Condominium Associations (COAs), depending on the type of facility you paid for.
While both organizations provide maintenance, upkeep, and safety in neighborhoods where they are active, there are critical differences between Florida COAs and HOAs in their regulatory framework, functions, and the type of fees that can be assessed and paid to each.
As a timeshare owner, you’re automatically a member of the relevant community association for your timeshare property, so you must understand their fee structure and how it works.
Keep reading for a rundown of the differences in the type of fees charged by both associations and how timeshare attorneys can help you.
What Is a Homeowners Association?
Homeowners Associations (HOA) are non-profit corporations that typically oversee residential communities. These associations may provide several services, such as standard area upkeep and maintenance, landscape design approval for individual properties in the community, and enforcing any rules or regulations established by its governing documents.
In Florida, each Homeowners association is regulated by state law- the Homeowners Association Act, which outlines the scope of their operations. Each association, in turn, has specific regulations that serve as bylaws for the smooth running of the area.
One of the critical functions of HOAs is to assess members’ annual dues, collect the necessary fees and utilize them for important projects within the association’s jurisdiction.
What Is a Condominium Association?
On the other hand, timeshare owners or homeowners occupying condominiums belong to a Condominium Association for the area where their condo unit is located.
Condominium Associations in Florida are profit or non-profit corporations in charge of the organization of a collection of condo units, with the owners of each unit operating as the corporation’s shareholders.
Like HOAs, they oversee the smooth running of the condos, including common areas, and collect the necessary fees to achieve this goal.
Since condominium units typically share some common walls or areas within buildings, the condominium association must implement emergency plans for the community in case of natural disasters.
The Florida Condominium Act regulates the collection of fees and other functions of condo associations. Under the Act, timeshare estates cannot be created for condo units unless the condominium declaration expressly allows it.
So if you’re purchasing a timeshare for a condo in Florida, ensure the developer complies with this requirement to avoid future challenges. You can ask your timeshare attorney in Florida to review the contract before you commit.
Differences in the Fees Assessed By HOAs and Condo Associations
Condo associations are empowered by law to collect assessments from unit owners. Assessments are a component of the funds required to offset a condo association’s common expenses. The specific fee assessed, although payable by the unit owner, is charged to the unit. Hence, a current condominium unit owner is jointly liable for any unpaid condo fee the previous owner leaves.
This also applies to timeshare owners of a condo unit. Each timeshare owner is liable individually and as a group for the payments of assessments levied against their property.
The fees are directed toward common expenses, including the operation, maintenance, or replacement of the association’s common elements, such as a swimming pool, lobbies, recreational services, or other general property owned by the association.
However, by Florida statutes, the fees assessed do not usually include charges for the use of common elements or association property unless;
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The condo declaration permits it
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The members of the association agree upon it via a majority vote
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The expense was incurred by a unit owner who exclusively used the specific common element or property.
Condo association fees may also include member contributions for property insurance.
On the other hand, Florida homeowners associations also collect fees or assessments. However, by the definition of the term in the Homeowners Association Act, the costs are charged for the use of common areas serving the homeowners association members. They are payable to the association or other bodies, including:
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The developer
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The owner of a specific common area
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Recreational facilities such as pools or fitness centers.
If a member is delinquent in paying fees for 90 days or more, the association can suspend the member’s rights or create a lien over their property.
Accordingly, the critical difference lies in the scope of the assessed fees payable to each association. Condo association fees cover a more comprehensive range of functions such as common area operation, repair, and maintenance costs, transportation services and insurance for the association officers, and other running costs.
This means that the fees paid to condo associations are typically higher than those payable by homeowners association members, who are only required to pay for the use and, in some cases, the maintenance of common areas. The individual owner handles property repairs, so the HOA does not collect fees for such expenses.
This distinction is essential when you’re looking at purchasing a timeshare. Your maintenance costs are likely to be higher if your timeshare is for a condo unit, so if this is a concern, try to opt for an alternative kind of property instead.
How a Timeshare Attorney Can Help
Timeshare contracts contain details of the nature of the property you’ll get after your purchase. However, many people might need help to correctly interpret the contractual clauses on their own.
In such cases, a timeshare attorney can help review the agreement so you know the property you’re getting and the financial implications of purchasing that specific timeshare.
Consider consulting a lawyer before signing those papers so you’re not saddled with high fees and maintenance costs that could have been avoided. A timeshare attorney can also update you on any changes in Florida’s laws that might affect the fees and assessments you pay.
Contact a Skilled Timeshare Attorney in Florida
If you’re considering purchasing a timeshare, it’s essential to distinguish between the fees associated with Florida condominiums and homeowners’ associations. The fees can differ, so it’s necessary to understand the implications of purchasing a timeshare for each type of property.
At Timeshare Defense Attorneys, we’ve helped thousands of property owners resolve their timeshare disputes. Our knowledgeable team can review your contract and help you understand the fees payable under either a condo or homeowner’s association. We’ll also help you assess any relief options available under the law.
Contact us today for a free consultation. Our attorneys have years of experience and are committed to helping you get the best outcome for your case. We’ll review your contract and help you make informed decisions about the. Call us now for top-notch legal advice and representation.
Frequently Asked Questions
What Is the Highest Homeowner Association Fee?
Homeowner association fees can vary depending on the location and size of the development, as well as the amenities available. Generally, HOAs with more significant properties, such as those offering golf courses or private marinas, have higher fees than smaller developments that may offer fewer services or features.
What Is the Average Association Fee for a Condominium in Florida?
The average monthly Condo association can range from hundreds of dollars to thousands per month. The fees depend on the size and amenities of the condo complex and any special services the association provides, such as landscaping or maintenance.
Fees may also depend on whether a unit owner holds a mortgage, with some lending institutions requiring higher HOA fees for insured condominium mortgages. It is essential to check with the Condo Association and your lender before purchasing a timeshare in Florida.
What Are the Legal Remedies for Nonpayment of HOA Fees?
If an HOA member fails to pay their dues, the association can impose late charges, suspend certain privileges, or place a lien on the homeowner’s property. If the lien is unsatisfied, the association may pursue collection through a lawsuit or foreclosure sale. A timeshare attorney can help homeowners navigate these processes and protect their rights.