The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (160205)	10/26/2008 1:09:30 PM
From: Sr K	Read Replies (1) of 306849

>>they have slapped us with a 1,700 special assessment due within...get this....2 months. If we pay after 2 months, the amount will be 1,950 and if we wait even more, of course they will tack on even more late fees. << Florida law does not allow that. "Also, if the declaration or bylaws so provide, the association may charge an administrative late fee in addition to such interest, in an amount not to exceed the greater of $25 or 5 percent of each installment of the assessment for each delinquent installment that the payment is late."" They can only charge 5% or $85 on the $1,700 "if the declaration or bylaws so provide" by 718.116 (3).

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