The Community Association Leadership Lobby conducted a survey of Florida Homeowner Associations and their viewpoints on the current state of the housing market, as well as their predictions and forecasts for the future. The survey showed that a majority of the state's homeowner associations were an immense amount of stress and felt discouraged about the condition of the market.
Out of 777 associations that participated in the survey, over 90 percent said that financial problems will persist or get worse in 2010. Additionally, approximately 60 percent of the associations raised assessments to cover revenue losses from the past year and half, much of which was caused by owners who were in default. About 66 percent said that a large increase in the amount of property owners who are more than 60 days late paying their fees is also responsible for the raised assessment fees.
Homeowner associations are in favor of supporting legislation that would permit them to collect additional late fees from investor-owned properties, as well as from any tenants that are renting out any properties. This survey and its results may further help Florida homeowner associations, along with those in other states, to change legislation to allow more fees to be collected.
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