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Can an Florida HOA keep condo hotel rental income if owner is behind in HOA dues?
Kellyb2010
Probably, yes.
Read your governing documents to understand the responsibility for collecting the assessments that you owe -- and your responsibility to pay them -- and the steps that the HOA can take to settle your debt.
Stepping into your revenue stream is one way of collecting your assessments. This strategy may cost you extra fees, however, since there will be administrative expenses associated with enforcing the guidelines you agreed to when you purchased your unit. It will be less expensive for you to simply pay your assessments on time and in full.
Thanks- the condo dues have gone so far up that I cannot afford them (250%). I put 70k down on the condo and I can't even sell it for what I still owe ( welcome to Florida).
I used to own a business and it has not made it through the recession….
Thanks for you input- I will spend a few bucks to get my attorney to look at it. It is about 4,000. They are keeping for two quarters….
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∙ 13y ago
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