What Is a Condominium Association?
A condominium association is a not-for-profit corporation that governs a condominium community. Every unit owner is automatically a member. The association is managed by a board of directors elected by the unit owners and is responsible for maintaining the common elements (lobbies, pools, elevators, roofs, exterior walls), enforcing the declaration of condominium, and managing the community's finances.
Florida Condominium Act
Florida condominium associations are governed by the Florida Condominium Act, Chapter 718, Florida Statutes, which is significantly more detailed and protective than the HOA statute (Chapter 720). Key provisions:
- Reserves — Under Section 718.112(2)(f), the association must maintain reserves for roof replacement, building painting, pavement resurfacing, and any item exceeding $10,000. Following the Surfside collapse, Florida amended the law to require Structural Integrity Reserve Studies (SIRS) and fund reserves based on the study results.
- Financial reporting — Associations with annual revenues over $500,000 must have audited financial statements. Smaller associations require compiled or reviewed statements.
- Assessment authority — The association can levy regular and special assessments. Failure to pay results in a lien on the unit with super-priority for the most recent 12 months of assessments.
- Board certification — Board members must certify they have read the declaration, bylaws, and Florida statutes, or complete a board education course.
- Owner access — Unit owners have extensive rights to inspect association records, attend board meetings, and speak at meetings.
Condo Associations and Real Estate Transactions
When a condo unit is sold in Florida, the buyer must receive the association's governing documents, financial statements, and a condo questionnaire from the association. The buyer has a 3-day right to cancel under Section 718.503 after receiving these documents. The title company orders an estoppel certificate from the association confirming the seller's assessment balance.
Related Terms
- Condominium Declaration — The founding document of the condominium
- HOA — Similar entity for non-condo communities, governed by Chapter 720
- Lien — Assessment liens for unpaid condo fees
- Encumbrance — Assessment liens are encumbrances on the unit
Barnes Walker Condominium Services
Barnes Walker represents condominium associations and unit owners in governance disputes, assessment collections, and transition matters. The firm's title company handles condo closings with full estoppel coordination. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 718
The Florida Condominium Act governs the creation, operation, and management of condominiums, including buyer rights, association powers, and assessment authority.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC