A new police force could soon be deputized to monitor the operations of thousands of Florida condominium associations, some of which are victims of fraud.
Florida State Rep. Julio Robaina, R-Miami, and his counterpart Florida State Sen. Rudy Garcia, R-Hialeah, have filed companion bills in the state legislature to create a four-person police force to be based in Fort Lauderdale to "investigate, enforce and prosecute" violators of five statutes that govern condominiums, homeowners associations, cooperatives, mobile home parks and timeshares, according to the South Florida Sun-Sentinel.
"We are getting so many cases of potential fraud that most local police departments are too overwhelmed to deal with them," Robaina told the South Florida Sun-Sentinel. "And most often they are low priorities for police who must worry about robberies and murders. So, nothing happens. But all this police force will do is condo fraud cases."
Currently, evidence of potential fraud at a condominium association must be collected and presented to police in order to initiate an investigation.
This type of initiative is what led to two cases - both in Broward County - where police arrested board members and maintenance workers in connection to service contracts that were inflated or where the work was never completed.
The condominium police force would be funded from Florida's $10.5 million Condominium Trust Fund, which is supported by a $4 annual fee collected from every unit in Florida.
Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter's blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report for detailed condo reports. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures DatabaseTM . Our new book Miami's Great Condo Crash: A Chronicle of the Boom and Bust is now available. Want to see every foreclosure filed in South Florida since 2007? Check out our Foreclosure DatabaseTM.
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