The Orlando Condo Blog

The statutes governing community associations require notice of meetings to encourage owner participation. HOAleader recently published an article on this subject: HOA Meetings: Does Your State Have Rules for Your Meeting Agendas? Here are some handy reminders – there are additional options in the statutes. This list is not intended to be all inclusive. var [...]

Question: What can the homeowner association do with bank owned properties that go delinquent or let their tenants break the rules? Answer: Bank owned properties can become common in HOAs when the real estate market is not moving homes quickly enough. Foreclosed homes can remain vacant for long periods, may have yards full of weeds, [...]

As of July 1st 2010, although condo owners are no longer required to carry home owners insurance, if they do carry insurance (and they should), then that policy must include coverage for “special assessments” by the board of directors. To quote the new statute 627.714(1): For policies issues or renewed on or after July 1, [...]

Condominium conversions became tremendously popular (because they were profitable) during the housing boom.  Many old tired apartment buildings were converted to condominium ownership, remodeled and then the units sold.  In some cases the developer substantially remodeled the building and improvements by updating plumbing and electrical systems, replacing the roof, replacing or modernizing elevators and “gutting” the [...]

If you’re a regular reader of the Orlando Condo Blog, then you’ll know by now that most condos have to be FHA approved to attract lending these days (but see our blog below on a bank that claims it can now do Orlando condo loans). So how does one find out which Orlando condos are FHA approved? Well, [...]

Question: Our pool and clubhouse are 15 years old. The board wants to build a larger pool and upgrade the clubhouse which would require a $200,000 special assessment and drain our reserves. Answer: The board has no authority to expand the common area amenities. Its authority is to maintain existing amenities in good condition. However, [...]

Well, it was just a question of time – and it’s been a very long time it’s true - but it sounds as if Orlando condo loans may slowly be creeping back onto the mortgage radar, at least for certain kinds of purchases. Yes, there are caveats, and we still don’t know of any loans for those wretched Orlando condo [...]