Small condo assosiation

[MIKEPIN]

What is the name of your state? FL

We bought a house in a condo association. The association only has two owners in total (two houses).

The guy who had split the two properties and owned both in the past and one for many years was managing the HOA for a small fee.

I tried had to read up on HOA laws, but I am lost.

The guy is continuing to manage the association for now, until we figure this all out. I have agreed to that.

However, it might not be legal, as in FL I believe you need a license to manage property unless it is your own.

Right now both "condo" owners are registered with the department of corporations as directors. Do we even need a property manager? Or can the two of us do that ourselves?

Someone came up with the idea to have our assistant do that, she manages all of our properties. She is not licensed, but we do not manage anybody else's property.

I called a few lawyers, but they are asking for a lot of money!

Appreciate any input.

 

[LdiJ]

What is the name of your state? FL

We bought a house in a condo association. The association only has two owners in total (two houses).

The guy who had split the two properties and owned both in the past and one for many years was managing the HOA for a small fee.

I tried had to read up on HOA laws, but I am lost.

The guy is continuing to manage the association for now, until we figure this all out. I have agreed to that.

However, it might not be legal, as in FL I believe you need a license to manage property unless it is your own.

Right now both "condo" owners are registered with the department of corporations as directors. Do we even need a property manager? Or can the two of us do that ourselves?

Someone came up with the idea to have our assistant do that, she manages all of our properties. She is not licensed, but we do not manage anybody else's property.

I called a few lawyers, but they are asking for a lot of money!

Appreciate any input.

Are you living in the property you bought (or plan to live there) or is it an investment property that you are renting out? You certainly don't need a property manager if the properties are going to be your own homes. If you are going to be renting them out, and its a long distance situation, a property manager is probably needed. If its not long distance, that's another story.

 

[MIKEPIN]

Both are little office houses, about a mile away from me. Managing this would not be a problem. The other half is used by the owner for his office, ours is rented out.

 

[LdiJ]

Both are little office houses, about a mile away from me. Managing this would not be a problem. The other half is used by the owner for his office, ours is rented out.

Ok then you clearly don't NEED a property manager. There is no legal requirement for you to have one either.

However, he apparently is not acting as a property manager, but rather as a condo association manager. If the condo association handles common area maintenance then somebody does need to be in charge of that. Or, the two of you could agree to dissolve the condo association and each handle your own maintenance. That, however, might not be possible if you share a parking lot or anything else like that.

 

[adjusterjack]

Are these separate dwellings or are they connected by a common wall (i.e. - duplex)?

 

[MIKEPIN]

Completely separate buildings. Sharing a big parking lot.

 

[LdiJ]

Completely separate buildings. Sharing a big parking lot.

Then that shared parking lot is the reason why you have a "condo association". That association makes you both responsible for the shared parking lot. Somebody will have to be in charge of common area maintenance under the condo association.

 

[MIKEPIN]

Somebody will have to be in charge of common area maintenance under the condo association.

Sure.

So, can the former owner (legally the "builder" of the condo association) continue to manage it against a fee? I believe not, as he is not an owner anymore and has no license.

Can I have my assistant do it against a fee? I believe so, as she is my employee and I am an owner. (She does not have a license.)

 

[LdiJ]

Sure.

So, can the former owner (legally the "builder" of the condo association) continue to manage it against a fee? I believe not, as he is not an owner anymore and has no license.

Can I have my assistant do it against a fee? I believe so, as she is my employee and I am an owner. (She does not have a license.)

I am still a little confused about what it is you need someone to manage? You have used the term condo association as well as property manager and those are two completely separate things. A property manager would manage your house only. (ie manage renting it out or any repairs) A condo association manager would manage the common areas (ie the parking lot). So which are you talking about?

 

[festival]

According to myfloridalicense website:
A license is required when an individual receives compensation for management services when the association or associations served contain more than 10 units or have an annual budget or budgets in excess of $100,000.

 

[MIKEPIN]

If a property owner employs someone to manage their property, and that employee is paid a salary, as opposed to being paid a commission or on a transactional basis, a broker's license is not required.

I have such an employee.

She managed all our rentals. Now I also want to give her the HOA business. Not much to do, but I travel 90% of my time.

 

[adjusterjack]

You and the other owner can hire whoever you want to manage the association's business. If the other owner is OK with paying your assistant to do it, more power to you. Why not just ask him/her rather than engage in speculation with strangers on the internet?

If all you've got is the parking lot as common area, there isn't much to manage so you might just be over-thinking this. Doesn't seem like rocket science for the two owners to get together and agree on how to handle things.

Assuming that the HOA is a formal entity, you should have liability insurance in the name of the HOA with the two of you as additional insureds for the liability coverage.

 

[MIKEPIN]

You are totally right. I just want to make sure it is legal!

 

[festival]

Yes it is legal. A manager does not need a license as long as you have 10 units or less or have an annual budget or budgets in excess of $100,000, which I found by Google search.

 

[HighwayMan]

Yes it is legal. A manager does not need a license as long as you have 10 units or less or have an annual budget or budgets in excess of $100,000, which I found by Google search.

You are not winning any points by posting the same thing that you posted 8 hours ago. Once is enough.