HOACompliant
Glossary

Assessments

Also called: dues, maintenance fees

Assessments are the regular charges every owner pays so the association can operate, maintain common areas, and fund reserves. The amount is set through the annual budget the board adopts, and unpaid assessments are what the collection and lien process addresses.

Governing statute

Annual budgetFla. Stat. 720.303(6)(a)Assessment collection noticesFla. Stat. 720.3085(4), (5)Annual budget adoption and noticeFla. Stat. 718.112(2)(e)1.

Related obligations

Adopt an annual budgetAssessment collection noticesAnnual budget adoption and notice

Related terms

Special assessmentReservesEstoppel certificate

General information, not legal advice. Confirm with association counsel.

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