New laws directly affect Property Managers

Do you know ….?
Under §718.111 of the Condominium Act, as amended and effective on July 1, 2017:
1) the new law expressly prohibits any officer, director or manager from receiving a “kickback”. Previously, the law prohibited such persons from accepting anything or service of value without consideration other than services or items received in connection with trade fairs or education programs. A kickback is already the subject to a civil penalty but under the new law, a kickback may also make the recipient subject to a criminal penalty.
2) An association may not hire an attorney who represents the management company of the Association.
3) except for a timeshare condominium, a board member, manager, or management company may not purchase a unit resulting from the association’s foreclosure of its lien for unpaid assessments, or take title by deed in lieu of foreclosure.

Michael E. Rehr, Esq.
June 27, 2017.