Many communities impose a capital contribution (sometimes called an initiation fee) on new owners. This is a one-time, nonrefundable fee paid by the buyer at closing. These fees usually go into a special account used to fund capital improvements and repairs in the community. Both Fla. Stat. §720.308(6) and §720.308(4)(b), prohibit a developer from using any part of the assessments designated for capital contribution funds to pay for operating expenses. Read the article……………………………
Residents in one Orlando condominium complex are fighting back after their condo association board asked…
The law addresses a gap in the state’s condominium insurance requirements, previously marked by vague…
Assets worth about 300,000 euros have been seized by the Financial Police of Naples from…
Today Vantaca, the leading community management performance software company, announces a partnership and integration with…
A Vancouver strata that denied a condo owner's request for an exemption to rental rules…
Social media in Sun City Center was ablaze recently when residents learned Tampa Electric Co.…