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Important
Facts on Association Fees
Section
718.501(2)(a), Florida
Statutes, requires each condominium association that operates more than
two units to pay to the division an annual fee in the amount of $4.00 for
each residential unit. The fee is due by January 1 of each year. If the
fee is not paid by March 1, the association shall be assessed a penalty of
10% of the amount due.
The money paid will be deposited
into the Condominium Trust Fund -- see
FS 518.509 Rule 61B-23.002(1)(a), Florida
Administrative Code, requires the division to mail to the association an
annual fee statement. Failure to receive the annual fee statement shall
not relieve the association of the obligation to pay the fee.
Rule 61B-23.002(2), Florida
Administrative Code, requires associations to notify the division of a new
mailing address within 30 days of a change of address.
FS 718.501(2)(a)
Each condominium association that
operates more than two units shall pay to the division
an annual fee in the amount of $4 for each residential
unit in condominiums operated by the association. If the
fee is not paid by March 1, the association shall be
assessed a penalty of 10 percent of the amount due, and
the association will not have standing to maintain or
defend any action in the courts of this state until the
amount due, plus any penalty, is paid.
(b) All
fees shall be deposited in the Division of Florida
Condominiums, Timeshares, and Mobile Homes Trust Fund as
provided by law.
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FS 718.509 Division
of Florida Condominiums, Timeshares, and Mobile Homes Trust
Fund.
(1) There
is created within the State Treasury the Division of
Florida Condominiums, Timeshares, and Mobile Homes Trust
Fund to be used for the administration and operation of
this chapter and chapters 718, 719, 721, and 723 by the
division.
(2) All
moneys collected by the division from fees, fines, or
penalties or from costs awarded to the division by a
court or administrative final order shall be paid into
the Division of Florida Condominiums, Timeshares, and
Mobile Homes Trust Fund. The Legislature shall
appropriate funds from this trust fund sufficient to
carry out the provisions of this chapter and the
provisions of law with respect to each category of
business covered by the trust fund. The division shall
maintain separate revenue accounts in the trust fund for
each of the businesses regulated by the division. The
division shall provide for the proportionate allocation
among the accounts of expenses incurred by the division
in the performance of its duties with respect to each of
these businesses. As part of its normal budgetary
process, the division shall prepare an annual report of
revenue and allocated expenses related to the operation
of each of these businesses which may be used to
determine fees charged by the division. This subsection
shall operate pursuant to the provisions of s. 215.20.
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