To protect Florida homeowners against exorbitant expense, community management firm Associa recently testified against Florida Senate Bill 722 in a Senate committee hearing in Tallahassee, warning against legislation that could wreak havoc with household budgets.
Associa spoke in front of the state’s Senate Regulated Industries Committee. If enacted, the measure would unnecessarily increase government’s regulatory power, creating higher homeowner association fees for over 9 million Floridians living in planned communities, the firm's executives asserted. Currently, homeowners' associations (HOAs) are strictly controlled in Florida.
Ordinarily, HOAs are compensated for providing financial data to prospective buyers. If SB 722 passes, associations would be obligated to delay their fee collection, potentially leading to conflict and confusion. Additionally, supporters appear to want a ceiling on the price tag for the exchange of this information.
"The information provided by HOAs is critical for a prospective buyer to fully understand any potential money owed to the association and there is no reason to short change the HOA or delay the service costs collected to research and produce that information," John Krueger, Associa's VP of government affairs, said.
"[By] eliminating the certainty of payment and arbitrarily capping that payment, the legislature is going to shift the costs for this information from the seller and buyer to the rest of the homeowners in the community when the HOA will be forced to raise dues to cover its operating budget," Krueger continued. "In the end, this bill is simply a 'solution' in search of a problem.”
Associa works with homeowners in a wide range of settings, from condo, mixed-use and master-planned zones to luxury high-rise, single-family, active adult, resort, and commercial properties. Its Gulf Coast branches include offices in Fort Myers, St. Petersburg and Tampa.
With over three decades of experience, Associa provides management, maintenance and real estate services to over 9,000 communities internationally.
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