Many associations are not diligent in timely updating their Frequently Asked Questions and Answers Sheet (“FAQ”), which may be a violation of Florida law. Rule 61B-23.002 of the Florida Administrative Code requires each condominium association to prepare and maintain the FAQ sheet and update same every 12 months.
The Department of Business and Professional Regulations (the “DBPR”) created DBPR Form CO 6000-4 which consists of 7 questions that must be answered relating to the following:
- Unit owner voting rights;
- Restrictions that pertain to the use of the unit;
- Leasing restrictions;
- The amount of assessments levied for each unit type;
- Whether an owner is required to be a member of any other association and if so, how much are the assessments;
- Whether payment of rent or land use fees for recreational or other community used facilities is required; and
- Whether the association or other mandatory membership association is involved in any court cases in which it may face liability in excess of $100,000.
The answers to the above questions may be summarized but the answer must refer to identified portions of the condominium documents.
The FAQ sheet must be provided to prospective purchasers and sellers of a condominium unit in connection with the resale of a unit at no charge.
The FAQ sheet should be kept with the Association’s official records. The Association’s legal counsel can assist with preparing the FAQ if an association so desires.
For more information, contact Jean Deglon +1 (954) 770-5348 or Jean@RealtyServicesFlorida.com
Original article: Sun Sentinel, August 2014