I wanted to share some more breaking news with you regarding another one of our top legislative priorities. HB 483/SB 398, which caps estoppel certificate fees, was just passed by the Florida Legislature! As many of you know, this is a long-standing issue that we have been working on for several years, and its passage represents a big win for homeowners and Realtors across the state.
This bill caps the fees that community association management companies can charge for estoppel certificates at $250 for unit owners who are current in their assessments. An additional $100 can be charged for “expedited” estoppel certificates (delivered within three business days), and another $150 can be charged for owners who are delinquent in their assessments. Once signed into law by Governor Scott, these statutory caps will go a long way to curb the extraordinary charges that property owners have been forced to pay throughout Florida.
The bill also requires certificates to be valid for 30 days and provides for a standard estoppel certificate form to ensure the same information is provided to owners across Florida.
Thank you very much for all of your help over the past few years on this legislative priority. This truly was a team effort and we could not have pulled it off without your support.
Carrie O’Rourke
Vice President of Public Policy | FloridaRealtors®