Unit 1 Quiz

Which statement is TRUE about community associations?

How many primary types of community associations are there in Florida?

What defines the responsibilities of the community association and owners?

What is the term for the covenant that runs with the property being purchased?

When did Florida enact laws governing homeowners associations?

Which is a benefit of community living?

Which is a community asset that the community association manager must manage?

What type of manager serves communities from a remote office?

What is the term for the type of employment where you have the option to work independently for the community association or to create your own business entity?

One key quality to being an excellent community association manager is

Community Associations

Community associations can be part of planned developments
Membership is often a condition of ownership
Associations can impose fees
Many different types of community associations exist in Florida

Responsibilities

Governing documents outline responsibilities for associations and owners
Federal and state laws also play a role
These responsibilities are further outlined in governing documents

Covenants

Covenants are agreements that are associated with property purchases and run with the property
They are often included in governing documents

Florida Laws

Florida has laws governing homeowners associations
These laws were enacted at various times(1985,1990,1992,1995)

Community Living Benefits

Community living offers benefits such as swimming pools, clubhouses, and reduced maintenance

Community Assets

Community assets such as property, and finances must be managed by the association

Community Managers

Community managers may work remotely (remote office)
They may oversee various aspects of the community (portfolio management, asset management)
Some community managers work independently or as part of employment