Florida Condo Collections
The road map of your community’s governance is the budget. As community associations are not for profit entities the math is simple. What you expect to spend to maintain your association should equal the revenue you bring in.
The lion’s share of any community association’s revenue is drawn from the maintenance fees. Any shortfalls in this income can wreak havoc on your budget, which may cause an increase of dues, decreased services, an erosion in the lifestyle of members, special assessments, and even a reduction in property value.
This guide will provide some insight as to what a board of directors can do to protect the property that you have volunteered to govern.
Why you should read this Guide:
- Get a blueprint of the legal steps your board should follow in the collections process
- Learn 3 alternatives to a property lien for recovering maintenance fees
- Learn a surprising thing Florida law allows when investment owners are delinquent
- One thing you should never say in your collection letters if you want to avoid a fine
- Learn the differences between professionals who work in capital recovery
- Learn the key questions to ask your community association attorney about their collections process
All this, and we’ve also included two bonuses:
- Sample language for a uniform collections policy for your board to adopt, and
- A sample letter you can use to collect delinquent funds from tenants