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There have been some interesting recent developments involving the new law establishing term limits for condominium board members, which has been the subject of at least two of my recent columns.
The Florida Condominium Act was amended effective July 1, 2018 to provide that a board member may not serve more than …
Florida condominiums, cooperatives and, to a lesser degree, homeowners’ associations are subject to the imposition of fines and penalties by the Division of Florida Condominiums, Timeshare and Mobile Homes (“Division”) for a variety of mistakes and missteps. The Division plans to pass sweeping changes to Chapter 61B-21 of the Florida Administrative Code which may …
Question: Our board of directors has been talking about switching over to “pooled” reserves. Can you explain what this means?
L.A. (via e-mail) Answer: The concept of funding condominium reserves through the “pooling” method, sometimes also known as the “cash flow” method, came into …