FL CAM License Exam Prep
Lilliam J. Torres
Florida Dec, 2014
Appurtenances
Accessory rights inherent
in ownership of property in an HOA
Undivided share in common elements, surplus, rights of
use of all easements. Memberships in the association and
full voting rights. Provision and definition of any club
members rights, regarding exclusive use of common
elements, common areas & common property by HOA
members.( exclusive use must be spelled out in documents)
The CAM
License/Statute Part 8 of Chap 468
Needed when Compensation is received
When the association contains more than 10
units, parcels or shares
When the annual budget is in excess of
100,000.
CAM Services
Controlling and disbursing Funds
Preparing budgets
Drafting meeting notices & agendas/Assisting in the noticing and conducting of Meetings
Determining amounts due to association
Collecting a mounts due to HOA before filing of civil actin
Calculating votes for a quorum & approving propositions to amendments
Preparing certificates of assessments/Estoppels
Negotiating contracts
Coordinating/performing maintenance of property
*There is no statutory requirement that an HOA engage a licensed manager or manager firm.
7. 5. 2
Regulatory Council
They set exam content
Do not get involved with discipline
7members. 5 licensed CAMs and 2 Lay persons
Licensed is good for 2 yrs. Begins in October, odd yrs and ends Sept 30,
even years.
MAXIMUM OF CONTINUED ED IS 10 HRS AFTER THE INITIAL YEAR
AFTER EACH LICENSED PERIOD IS 20 HRS
Covenants= Contract between 2
A commitment, agreement that grants rights or
imposes liability on the property or its owners.
They run with the land remain until the
community is terminated. All HOA have
termination clauses ( such as election, market
crash, natural disasters)
Differences In Properties
Condominiums=Joint ownership
Individual owns single unit. Shares joint ownership of
common elements
There is appurtenance to each unit/ and undivided share in
common elements
Membership in the HOA
10 Units+ 10 deeds
Chap 718 FS
Must engage ONLY a management licensee
Unlicensed management can pose a fine up to 5K
Condominiums were created by the concept that ppl didnt
retire. No concept of retirement.
A condo is created when the declaration is recorded with
clerk of circuit court, in public records and with county
where created
Has Common elements= Owned Jointly
& Limited Use= preserved for Specific Units
311
3 yrs warranty on structural component when getting the C of
O
1yr warranty after the HOA takes control
I yr warranty an all other improvements & materials fro date of
completion of structure
No warranty may extend past 5 yrs from the completion date.
Cooperatives
10 Units=1 Deed
Chap 71 9 FS
HOA
10 Properties= 10deeds
With title to specific parcel &
membership to HOA Chap 720 FS
Time Shares
NOT HOA
Mobiles Homes
Common Property= Common Areas
(association owns everything)
& limited Common areas are reserved for
exclusive use and benefits of specific units
Common Property
Condominium Business
Disclosure & Filing requirements
Prospectus
Developer must file copies of all
documents to be furnished to a buyer
Is a summary of all
accounts. It requires the
developer to pay 20.00 filing
fee for each unit offered
prior to accepting any
purchase contract
20.00 filing fee for each unit prior to
purchase contact acceptance
Resicion period- 15 days after signing
agreement( no Penalty)
Annual report with DBPR, Division of FL
condos, Time Shares & Mobil Homes,
and a 2.00 fee per unit by Jan 1st. Must
be a line item in budget
Part VI Conversions to Condos
Protection of Renters/ Get the first
option to buy( first refusal)
Protection to Purchaser
Developer must establish and fund
Reserve account for upkeep( Capital
expenditure)
Requires written notice of conversion
from developer to tenant
Provides the tenant the option to
extend the current rental agreement
If renting for 180days/6mo, may extend
lease for 270 days,
If less than 180 days, for 180 days
Acceptance must be within 45 days of
conversion notice
Post a surety bond in amount equal to
reserve required ( Bonding companies
pay and then bill developer)
Provide like new warranty
Condos depreciating cycle= 20 to 25 yrs
OMBUDSMAN
is a go between Government and the Governed
( a liaison)
Liaison between Division,
HOA Manager, Unit Owner
and Board of directors
The Power he/she holds
Access and Use of all files & records of DBPR
Appointed by Governor
Must be an attorney in FL
Employment of clerical staff
Prepares and issues reports & recommendations to
Governor, The Department, The Division, the HOA
Study Council, the President of the Senate, the
Speaker of House of Representatives, for legislation
relative to division procedures, rules, jurisdiction,
personnel and function
Ombudsman Continued
15% or 6 unit owners
May petition the
ombudsman to appoint an
election monitor to attend
annual meeting, to conduct
the election of directors
Obudsman acts as:
A neutral source for both
the rights and
responsibilities of unit
owners, associations
and board members
Records
Must be accessible to HOA Upon
request from Titan
Finances
( licensee Firm)
Reasonable notice shall not extend
latter than 10 days business days after
termination of Contract, upon written
request.
Manager may retain necessary records
up to 20 days in order to finalize
finances.If HOA prohibits the
withholding of records, the manager is
free from liability for the statement or
Report
Will not be commingled with
Firms finances
Cooperatives Chap 719 FS= One deed
The HOA holds the property
Legal title vested in the
HOA
The co-op is made up of 6 parts
Rights and Obligations of developers
Share holders lease the unit
The lease defines the rights of
use
Rights and Obligations of HOA
General Provisions
Special Type of Co op
Reg and Disclosure prior to its sale
Conversion to Coop/protection to
exisiting renters as for Condos
No Obudsman required
HOA Chap 720, FS
HOA
Developed by the Developer
Individual Parcels, residencies
Consist of:
Documents that govern the
community
Common areas owned by HOA
Administration of common areas
and enforcement of governing
documents
The Declaration is the document
w/highest Priority. It elaborates
on Covenants
Recorded with Clerk of
Circuit Court
In public Records
In the County where the
association and property
is located
Declaration Vs Covenants
The Declaration ( HOA and Condos)
Establishes rights responsibilities, and
regulations for owners and guests
Establishes easements for ingress and egress to
common areas & indv units or parcels
The Covenants
Defines financial obligations of owner
Grants a right or imposes a liability on
he property & owner
Gives binding authority to the Board
Provides for maint. & upkeep of common
elements
Creates & defines appurtenances( rights that go
w/property
Exhibits of declaration: Plot/Survey, By laws and
article of incorporation.
Contract between 2 parties.
Commitment, agreement
Run w/the land
Permanent restrictions/ remain
effective until the comm is terminated.
In a Cooperative
The Declaration is a Different type of ownership
Declaration
The documents recognizing a unit owners title/ or right of
possession to his or her unit.
718. F.S. Condo
719. F.S. COOP
720. F.S.
HOA
721. F. S. Time Share
723. F.S. Mobil Home
HOA
Created by the developer when the
declaration of covenants is recorded
with the clerk of circuit court
Vacation and Time Shares.
Mobil Home Act
An HOA Consist of:
Parcels or residences
10 day recession period. No penalty
Documents that govern the community,
The Common areas owned by the
association, and enforces the
governing documents
The declaration, Articles of
incorporation and by laws create an
elaborate contract among the owners
in the HOA
Covenants impose financial obligations
on the owners which pass with
property to subsequent owners.
Multiple owners during one year
No board: Managed by entity defined
by time share act. The developer, a
manger or firm and owner association.
Not a Community Association
If a time share is a condo, coop or
HOA, it must also comply with 718,
719 or 720, in addition to Time share
act.
Time shares must file an annual report
with Division of FL Condo, Time
shares and Mobile Homes. Must be
file in Jan of each yr.
A fee of 2.00 for each 7 days of use
availability, to the DPR. Fee must be a
line Item. A time share must be
authorized by the declaration of
condo.
Any residential Tenancy in which a
mobile home park in which 10 or
more lots are offered for rent or
lease
Ignore 720 in test. Will be used as
distraction
Property Type
Days advance
notice
Coop
Condo
Assessment
establishment
Intent to lien
notice
Election of
directors
Membership
meeting
Written request
for access to
official records
1st Notice is=60
days/2 mo
2nd Notice is 14
days/along
with meeting
notice
48 hours/days
5 business
days/1week
Time
Shares
HOAs
