Recieiver in Florida

It appears at our annual meeting this month we will not have enough owners to serve on the board and may have to get a receiver. Does anyone know a ballpark on what this would cost for a 101 townhome assocation in North Florida AND how to go about hiring one. What steps are necessary? etc? Our meeting is 2/27 and I would like to advise the few owners who show up what this entails. We do have a management company

susan,

The point is the board does not want to stay in plce. Thanks for the search site.

Ellen,
NO, NO!!! You don't want to go that way. It is so expensive and the Association foots the entire bill. Below is from 720:305. Please read it and get everyone out on the streets to find candidates. This should be your last resort to do a recievership.

4) If an association fails to fill vacancies on the board of directors sufficient to constitute a quorum in accordance with the bylaws, any member may apply to the circuit court that has jurisdiction over the community served by the association for the appointment of a receiver to manage the affairs of the association. At least 30 days before applying to the circuit court, the member shall mail to the association, by certified or registered mail, and post, in a conspicuous place on the property of the community served by the association, a notice describing the intended action, giving the association 30 days to fill the vacancies. If during such time the association fails to fill a sufficient number of vacancies so that a quorum can be assembled, the member may proceed with the petition. If a receiver is appointed, the homeowners' association shall be responsible for the salary of the receiver, court costs, attorney's fees, and all other expenses of the receivership. The receiver has all the powers and duties of a duly constituted board of directors and shall serve until the association fills a sufficient number of vacancies on the board so that a quorum can be assembled.

History.--s. 37, ch. 92-49; s. 55, ch. 95-274; s. 2, ch. 97-311; s. 51, ch. 2000-258; s. 20, ch. 2004-345; s. 17, ch. 2004-353.

Note.--Former s. 617.305.

Joe,
If I was really bored, I would run a cost sheet up for all of these associations to see what giving up their rights to run their own HOA would cost. I read an article a couple of years ago about a Palm Beach condo association that went into a recievership for 4 months at a cost of over $200,000, all billed to the membership (280 members) Do the math---YIKES!

Mary,

At present it looks like we MAY have two board members out of five. Nobody else is willing to step up to the plate and at our annual meeting this month I would like to let owners know what the cost would be. Actually since so few owners attend the annual meeting it would be good to nofity them beforehand. I agree with you that unless it hits them in the pocketbook apathy prevails.

Joseph,

Thanks. If a receiver is in charge does the assn have to continue with a manaement company or does the receiver use one?

Ellen,

When you're speaking with the members, be certain to clue them in on the valuable info Joe has given you. Hopefully the fact that the members will not have any say in the operation of the assn if a receiver is in control will be the turning point, together with the added cost.

Ellen,
If you were in the south area, I could give you a name but I do not know the JAX area. There is a company that one of our posters is involved with but as per our rules,I cannot reccomend the name. This is a tough thing to go thru but your management company needs to be as good as you can get.

(ps) I did not post the receivership stuff because I thought that you were going that way, you said that if all else fails, you "may" need it. I did read it but thought that your Board and members should be made aware of the huge concequences of going that way)

Lori,

My address is [email protected]