The ability to collect interest for delinquent assessments is found in a community associations governing documents and is also recognized in Fl. Stat. Chapters 718 for condominium associations and 720 for homeowner associations. Specifically, section 718.116(3), Florida Statutes for condominium associations provides in part that unpaid assessments shall bear interest from the due date until paid. Section 720.3085(3), Florida Statutes for homeowner associations provides in part that assessments and installments on assessments that are not paid when due bear interest from the due date until paid. Read the article………………….
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