Florida Community Association Manager Practice Exam

The maximum fee for an estoppel certificate is?

1. $200

2. $250

3. $300

4. $100

The correct answer is: $250

The maximum fee for an estoppel certificate is set at $250. This amount is significant because it reflects the regulations governing community associations in Florida, specifically regarding the costs involved in obtaining a document that certifies certain financial and operational aspects of a property or community association. The estoppel certificate serves as an important tool for prospective buyers or lenders, as it provides them with essential information, such as outstanding fees and the financial status of the association, ensuring transparency and clarity in transactions. The established limit of $250 helps protect consumers from excessive fees while ensuring that community associations can still cover reasonable administrative costs associated with preparing these certificates. This fee cap emphasizes the balance that Florida law seeks to maintain between the interests of homeowners and the financial health of community associations.