We are in search of 3 people willing to serve on the Condo board for the 2021 year. If we cannot seat a board, by law, the condo association will go into receivership. If it goes into receivership according to Florida Statute 718.1124
(5) The association shall be responsible for the salary of the receiver, court costs, and attorney’s fees. The receiver shall have all powers and duties of a duly constituted board of administration and shall serve until the association fills vacancies on the board sufficient to constitute a quorum and the court relieves the receiver of the appointment.
Our association going into receivership will more than likely, by example, do the following
- Increase our association fees. Most often these receivers bill at $150-200/hr. They will consult our attorney many times and more than likely our fees will be raised.
- Give us no decision making in our property. Property values will be affected as fees will continue to rise. This will be problematic for those who want to buy into Marbella Lakes as they won’t know what the fees are for sure.
Please give this serious consideration. The Association must seat at least 3 Board members.
DEADLINE IS THIS FRIDAY, NOV. 6