Thursday, December 10, 2009

Small Association's MUST still enforce Documents

Many Associations, both Condo's and HOA's, are considered small because of the number of homes and residents within the community. A small community typially consists of 50 or less units/homes. These "small" communities typically survive "paycheck to paycheck", maintain small reserves, and do not have much funds available in their budget to enforce their rules and regulations. Although, sometimes larger communities greater than 100 units/homes are finding themselves in the same situation.

Board of Directors must be reminded that they have a fiduciary responsibility to enforce the rules and regulations and to raise sufficient funds to do so whether by special assessments or whatever other authority the Board may have. A Board who fails to properly enforce their communities Rules and Regulations can be held accountable for failure to enforce the Associations bylaws and/or declaration no matter the size of the community associaiton. It's important to remember that no matter the size of a community, every community has Documents that must be followed and enforced, in addition to the Florida Statutes.

No comments:

Post a Comment