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BILL: CS/CS/SB’s 2086 & 2498

Page 19

Section 718.111(11)(l), F.S., permits any condominium in a multicondominium association that has not consolidated its financial operations under s. 718.111(6), F.S.,29 to opt out of the provisions in s. 718.111(11)(j), F.S., with the approval of the majority of total voting interests in that condominium. Such a vote may be approved by the voting interests without regard to any mortgagee consent requirements. 30

Section 718.111(11)(m), F.S., requires that any association or condominium voting to opt out of the provision in s. 718.111(11)(j), F.S., to record the notice with the date of the opt-out vote and the official records book and page where the declaration is recorded. The opt-out is effective on the date of recording of notice in public records of the association. An association that has opted out may reverse that decision by the same majority vote required for the opt-out and record the notice in the official records.

Section 718.111(11)(n), F.S., provides that an association is not obligated to pay for reconstruction or repair costs due to casualty loss for any improvements installed by a current or former unit owner or developer as part of the original construction that only benefits the unit for which it was installed and is not a part of the standard improvements installed by the developer on all the units as part of the original construction. If there is insurance for a specific improvement, the bill further provides that any party is not relieved of its obligations regarding recovery.

Section 718.111(11)(o), F.S., provides that the insurance provisions of this subsection do not apply to timeshare condominium associations. It further provides that timeshare condominium associations must maintain insurance as provided in s. 721.165, F.S.

Common Expenses The bill amends s. 718.115(1)(a), F.S., to provide that, unless the manner of payment or allocation of expenses is addressed elsewhere in the declaration, condominium expenses or items required by the federal, state or local government, including fire safety equipment and water and sewer service, are common expenses whether or not identified as common expenses in the declaration of condominium, articles of incorporation, or the bylaws of the association.

Assessments The bill amends the “estoppel certificate” requirement in s. 718.116(8), F.S., to include a unit owner’s designee or a mortgagee designee among the persons that are entitled, upon request, to a certificate signed by an officer regarding the assessments owed by the unit owner to the association. The bill provides that the fee for the certificate must be set forth in the certificate.

The bill provides that the authority to charge a fee must be established by a written resolution adopted by the board in advance of the charge or provided by a written management, bookkeeping, or maintenance contract. The bill provides that the fee must be payable upon the

29 Section 718.111(6), F.S., permits two or more residential condominiums in which the initial condominium declaration was recorded prior to January 1, 1977, to operate as a single condominium for purposes of financial matters, including budgets, assessments, accounting, recordkeeping, and similar matters. Each condominium must provide for the consolidated operation in their declarations or bylaws. The condominium may also opt to consolidate their financial operations.

30

Mortgagee consent is generally provided for in s. 718.110(11), F.S.

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