New condominiums are continuously on the rise, which means more condo associations are in effect. Those who go from a homeowner’s association to a condo association may not know or be unaware of the differences.
Those unfamiliar with condo living may find it helpful for a board member to go over the rules with them. New residents may also find understanding the bylaws puts them more at ease with their brand-new living situation, and they should know what those bylaws cover.
The bylaws of the association govern its operation. It is a document put forth by the board members that requires the resident’s signature stating he or she understands the rules and regulations of the condominium association. Chapter 718 of the Florida statutes regulates the bylaws and lists the required provisions. Here are a few essential components of these bylaws:
- Board meetings
Notice of all board meetings must go out at least 48 hours before the meeting, with posting on the property. The notice must go out by email, delivery or mail if there is not a place to put up the notice.
- Budget meetings
Fourteen days before a meeting of the proposed annual budget, the board must email, deliver or mail each unit owner a notice of the upcoming meeting. The notice must contain a copy of the proposed annual budget.
- Transfer fees
There cannot be a transfer fee unless the declaration, the articles or the bylaws state the association can approve it. There may be a preset fee, but it cannot exceed $100 per applicant. In the case of a lease, the association may require a security deposit that cannot exceed one month’s rent.
In addition to the bylaws required by the government, a condo association may add items such as use, maintenance and appearance of the units. Others may include pet restrictions and parking limitations.