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New Bill 1196 will help ccmmunity associations to collect from Tenants.

By
Real Estate Agent

The new law establishes a process by which the community association ( condominium. HOA or coop) may collect rent and dues from tenants of owners who are delinquent on fees and assesments to satisfy the outstanding association fees.

This will help small and large private and homeowners owned communities to mantain and keep their basic expenses covered and at the same time keep on vendors contract such as cleaning, janitors, pool services, gardening, roof assesments, etc.

   

Tenant obligation to the association may not exceed the amount due from the tenant to his or her landlord(s).  Tenant get a credit for prepaid rent and the landlord must give the tenant a credit for amounts paid to the association.

 Law does not direct property managemers who collects rent on behalf of the owners and remit association fees to the HOA, however in the case they don't receive their dues the association may evict the tenant.

There are more provisions to this new law that provide protection to the owners and associations.

All the new bill can be found at flsenate.gov/data.

 

Comments(1)

JM Padron, CCIM, CCP
THE JMTEAM NETWORK - Destin, FL
CCIM, CCP, International Commercial Broker

Interesting note, thanks for the info.

Oct 29, 2010 05:29 AM