Quick-Read Summary (TLDR) In Florida, homeowners go about removing an HOA board members through a “recall” process outlined in Chapter 720 of the Florida Statutes, which allows a majority of homeowners to vote for removal even without stating a specific reason. The process begins with creating a written recall agreement that clearly identifies the board…
If a prospective homeowner is looking at properties within an HOA it is worth doing a cost-benefit analysis to see if the relative inconvenience of purchasing a home and living within an HOA-governed area is worth the additional value of the property. On the whole, properties within an HOA are worth more than their counterparts…
How do investors minimize their rental property liabilities to ensure a higher return on their real estate investments? As investments in the capital markets are expected to yield lower returns in coming years, many investors are turning to real estate, and in particular single-family or multi-family rental properties, to create growth in their investment portfolio….
Homeowners Association (HOA) open meetings can be held in open sessions where all members can attend. Alternatively, HOA meetings can also be held in closed, private sessions that are not announced to the community of members. Deciding which topics warrant discussion in a closed session or open session must be done with care. HOA or…
A legal framework supporting electronic voting by homeowners associations (HOAs) and condominium owners associations (COAs) has existed in Florida since 2015. However, it was during the two years following the pandemic of 2020 that the use of electronic voting by associations went into overdrive. Now that the use of secure Internet-based platforms to gather and…
Commercial real estate transactions involve properties that are used for business purposes such as office buildings, hotels, warehouses and vacant land. Buying and selling commercial property involves a more complex closing procedure with a longer list of to-do items than that found in residential property closings. Due Diligence Commercial real estate transactions require in-depth financial…
Quick Read Summary (TLDR) Many Florida homeowners live in HOA-managed communities and statistics showing that as many as 72% of these home owners experienced HOA disputes that were difficult to resolve. When homeowners have disagreements with an HOA, they often find that the legal framework in Florida favors the association rather than them. HOA members…
Homeowners Associations (HOAs) and Condo Associations (COAs) have been given broad legal authority to create and enforce rules within their communities. Associations are permitted to restrict, control and regulate the activities of their members all with the ultimate goal of increasing the market values of the properties they govern. Although the powers of associations are…
What does a closing attorney do? Closing attorneys draft, review and organize documents in support of the sale or purchase of a property. They work with their clients to achieve optimal results in terms of timing, costs and risk. In addition to being involved with the process leading up to the day a property changes…
Moving into a homeowners association (HOA) or condo owners association (COA) comes with the necessity to pay assessments and fees. While most home and condo owners pay these assessments when they are due, inevitably, some are not willing or able to do so on time and must be referred to collections. Since assessments are associations’…
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