What is a Condominium or Homeowners Association (HOA)?
It is a non-profit corporation registered with the State and managed by a duly elected Board of Directors. Its purpose is to maintain all common property or areas and to govern the community in accordance with the provision of the Association’s legal documents: Declaration, Articles of Incorporation, and Bylaws. The corporation is financially supported by all members of the Association and must follow all regulatory agencies’ requirements. Membership is both automatic and mandatory. Additionally, condominium associations are governed by the requirements of Florida Statute 718 and homeowner’s associations by Florida Statute 720.
