Understanding homeowners’ association tax requirements can be one of the most overwhelming responsibilities for Florida HOA board members. Rules differ for unit owners versus the HOA as a whole, as do an HOA’s federal versus state tax responsibilities, the...
Recent legislative efforts are underway to bolster hurricane protections for condo associations. One new opportunity available to condominiums is the My Safe Florida Condominium Pilot (MSFCP) Program. This program was revised in the most recent...
Keeping an emergency fund adequately supplied is a best practice for all homeowners, and the same is true for condo associations. Although an HOA’s reserve funds only go toward the repair and replacement of common elements rather than individual upgrades, their...
Ending the fiscal year on a high note with surplus funds in your budget can be a positive situation for your Florida condo association. Though it may sound increasingly rare, it does happen, and your board of directors needs to know what to do if such a situation were...
Your condominium association’s annual budget should be highly informed by your HOA’s financial statements. Keeping close watch over the association’s financial health will tell you how well the board of directors is doing in managing the HOA’s income and expenses and...
