Podcast
Questions and Answers
The duties and responsibilities of a manager and management firm are primarily specified in:
The duties and responsibilities of a manager and management firm are primarily specified in:
In relation to authority, a manager and management firm must abide by:
In relation to authority, a manager and management firm must abide by:
When acting on behalf of a community association, a manager or management firm should discharge duties with all the following qualities EXCEPT:
When acting on behalf of a community association, a manager or management firm should discharge duties with all the following qualities EXCEPT:
The authority to act on behalf of a community association comes primarily from:
The authority to act on behalf of a community association comes primarily from:
Signup and view all the answers
What is one of the requirements for community association management services as per Section 468.4334(1), F.S.?
What is one of the requirements for community association management services as per Section 468.4334(1), F.S.?
Signup and view all the answers
What action should a licensee take upon receiving a Notice of Violation from an agency seeking to impose a regulatory penalty on the association?
What action should a licensee take upon receiving a Notice of Violation from an agency seeking to impose a regulatory penalty on the association?
Signup and view all the answers
In what documents should a licensee state their license number when offering services?
In what documents should a licensee state their license number when offering services?
Signup and view all the answers
What action is prohibited for licensees during the performance of community association management services?
What action is prohibited for licensees during the performance of community association management services?
Signup and view all the answers
What is a key requirement regarding possession of community association official records for licensees?
What is a key requirement regarding possession of community association official records for licensees?
Signup and view all the answers
What is the appropriate step for a licensee when they encounter a potential conflict of interest?
What is the appropriate step for a licensee when they encounter a potential conflict of interest?
Signup and view all the answers
How should licensees handle requests for original books, records, and accounts of a community association?
How should licensees handle requests for original books, records, and accounts of a community association?
Signup and view all the answers
According to Section 468.4334(1), F.S., what is one of the professional standards required for community association management services?
According to Section 468.4334(1), F.S., what is one of the professional standards required for community association management services?
Signup and view all the answers
Study Notes
Community Association Concept
- Restrictive covenants in community governing documents are permanent and remain effective until the community is terminated.
Member Responsibilities
- Members must occupy, use, and maintain their property according to community documents.
- The goal of the association is to maintain property quality and lifestyle.
- Purchasers of condominium units, cooperative shares, or homeowners' association parcels agree to abide by community documents and rules.
Community Association Manager and Management Firm License
- Part VIII of Chapter 468 requires licensing for community association managers and management firms.
- Licensed managers and firms must:
- Maintain records for up to 20 days to complete financial statements or reports.
- Provide access to association official records within a specific timeframe.
- Not create false records or alter official records.
- Maintain records as required by statutes.
Manager and Management Firm Duties
- Manager and management firm duties are specified in contractual agreements with the association.
- Managers and firms must abide by the contract, governing documents, statutes, and administrative rules.
- Professional management duties include:
- Acting as an agent for the association.
- Discharging duties loyally, skillfully, and diligently.
- Dealing honestly and fairly.
- Accounting for all funds.
- Not charging unreasonable fees.
Regulatory Council and Licensure
- The Regulatory Council consists of seven members, including five licensed community association managers and two laypersons.
- Individual community association manager licenses are valid for two years, beginning October 1st of even-numbered years.
- Community association management firm licenses are valid for two years, beginning October 1st of odd-numbered years.
- Prelicensure and continuing education requirements apply to licensed managers and firms.
Community Association Management Firm Requirements
- Firms managing more than 10 units or a budget over $100,000 must be licensed by the department.
- Each firm must:
- Be actively registered and authorized to do business in the state.
- Designate a licensed community association manager to respond to department inquiries.
- Notify the department within 30 days of changes to application information.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge about community governing documents, including restrictive covenants and member responsibilities. Learn about the permanence of restrictions and the obligations of individual association members.
