S2E16 - New Florida Law Update: Condo Records & Mandatory Websites (Aired 5/5/24)

Florida Statute 718.111(12) is being amended to state that the association’s accounting records must include, but are not limited to:

All invoices, transaction receipts, or deposit slips that substantiate any receipt or expenditure of funds by the association.

18. A copy of all building permits.

19. A copy of all satisfactorily completed board member educational certificates.

In addition, as I say whenever I teach the Board Certification class, the Certificate I give you after the class is an official record of the association. Unit owners have the right to ask for a copy.

Plus, the official records must be maintained in an organized manner that facilitates inspection of the records by a unit owner. In the event that the official records are lost, destroyed, or otherwise unavailable, the obligation to maintain the official records includes a good faith obligation to obtain and recover those records as is reasonably possible.

If the requested records are posted on an association's website, or are available for download through an application on a mobile device, the association may fulfill its obligations under this paragraph by directing to the website or the application all persons authorized to request access.

0:00 START
1:43 Exploring Updates To Florida Statute 718.111
13:23 Q&A
31:44 Q&A
45:47 Q&A