Your regular dues fund operations, maintenance, and reserves; special assessments cover large or unexpected costs and are approved under Chapter 720 and your bylaws. The 2024 reforms added mandatory reserve studies and stronger financial reporting. When you sell, the HOA must deliver an estoppel certificate within 10 business days, and estoppel fees are capped by statute.
What are HOA assessments and special assessments?
Regular assessments (your monthly or quarterly dues) fund operations, maintenance, and reserves. (Ch. 720)
Special assessments are extra charges for unexpected or large expenses; how they are approved is governed by Chapter 720 and your bylaws. (Ch. 720)
The association may charge interest and fees on unpaid assessments, as allowed by law and your governing documents. (Ch. 720)
What financial reports must an HOA provide?
Associations must prepare financial reports. The required level — compiled, reviewed, or audited — depends on the association's annual revenue. (Ch. 720)
The 2024 reforms added mandatory reserve studies and stronger financial-reporting obligations. (HB 1203)
What is an estoppel certificate?
When you sell, the title company requests an estoppel certificate — an official statement of what you owe the HOA at closing.
The association must deliver the estoppel certificate within 10 business days of a request. (§720.30851)
Estoppel fees are capped by statute. (§720.30851)
Is HOA financial misconduct a crime now?
For the first time, HB 1203 criminalized kickbacks, fraud, and the concealment of records by board members and managers. (§720.3035 / HB 1203)
Florida statutes cited
Ch. 720, HB 1203, §720.30851, §720.3035
Frequently asked questions
What is the difference between dues and a special assessment?
Dues are your regular (monthly or quarterly) payments; a special assessment is an extra charge for a large or unexpected expense, approved under Chapter 720 and your bylaws. (Ch. 720)
How fast must I get an estoppel certificate when selling?
Within 10 business days of the request, and the fee is capped by statute. (§720.30851)
Can my HOA charge interest on late dues?
Yes, as allowed by Florida law and your governing documents. (Ch. 720)
Does my HOA need a reserve study?
The 2024 reforms added mandatory reserve studies and stronger financial reporting. (HB 1203)