Fight Against Rent Skimming Condo Investors Advances As Recent Florida Court Ruling Permits Blanket Receivership W/out Need To File Foreclosure Action
In Miami, Florida, the South Florida Business Review reports:
- South Florida businesses and attorneys are developing new tools for homeowner associations struggling with unpaid fees and foreclosures. The latest developments are a legal precedent that allows associations to collect rents immediately when a landlord fails to pay association fees, and a property management company that advances loans to struggling condos with no risk attached.
- Attorney Stuart Zoberg, of Katzman Garfinkel Rosenbaum, won a ruling for his client, Nirvana Condominium Association in Miami, allowing it to collect rents for unpaid fees as soon as a landlord unit owner falls behind. It’s an evolution of the limited “blanket receivership” tool that took hold in local courts last year, where receivers can collect rents directly when a unit is in foreclosure. But, in the new ruling, associations are not required to wait for a foreclosure action.