Florida Community Association Manager Practice Exam

What are the developer's requirements outlined in FS 719 Part II?

1. Building maintenance expectations

2. Requirements of the developer

3. Owner rights in cooperative settings

4. Rules regarding common expenses

The correct answer is: Requirements of the developer

The correct answer pertains to the specific obligations and duties of the developer as outlined in Florida Statutes, particularly in the context of cooperative housing. FS 719 Part II focuses on the legal framework that governs the operation, management, and oversight of cooperative properties in Florida. Within this part, the developer is required to meet certain standards and regulations regarding the establishment and functioning of the cooperative. These requirements include the responsibilities for financial disclosures, the development and maintenance of the property, and adherence to the rules that govern the association's formation and governance. Moreover, developers are expected to ensure that the cooperative operates in compliance with state laws, including fulfilling their fiduciary duties to the cooperative and its members. This encompasses obligations such as the proper formation of the cooperative association, the provision of necessary information to the members, and the management of common areas and amenities. Understanding these requirements is crucial for community association managers, as they play a key role in ensuring that developers operate within the legal confines set out by state law, thereby protecting the interests of the cooperative members and maintaining the integrity of the cooperative living environment.