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    krako's Avatar
    krako Posts: 1, Reputation: 1
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    #1

    Jan 1, 2008, 01:43 PM
    Condo maintenance guidelines
    State of Florida condo's regulations of raising maintenance fee per year
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 1, 2008, 01:49 PM
    What makes you think there is one? The HOA's maintenance fee is supposed to be based on each unit's proportional share of the maint budget for the year. The condo board prepares a budget based on contractual and projected costs. They then apportion the costs over each unit. The board doesn't make a profit. If you object to budget you should be attending board meetings and participating in the budget process. So I doubt if there are any laws that restrict how much the fees can be.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jan 1, 2008, 02:50 PM
    Yess, Scott is very righ, the HOA ( condo association) will basically look at last years budget, project increased cost, electric, maintaince costs, repairs needed and set up a new budget for the next year, this cost is then divided to the residents
    froggy7's Avatar
    froggy7 Posts: 1,801, Reputation: 242
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    #4

    Jan 1, 2008, 05:55 PM
    I know that in California the HOA can raise the fees 10% per year without any approval from the homeowners. If it's over that amount, they are supposed to get approval from the property owners. However, the problem is generally that your options are to pay the new fees, which are generally sent out with a budget, or to contest them, in which case you get to figure out what part of the maintenance is going to be cut.
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