Florida Community Association Manager Practice Exam

Which provision is NOT typically found in community bylaws?

1. Transfer fees

2. Fidelity bonds

3. Property management fees

4. Arbitration procedures

The correct answer is: Property management fees

Community bylaws are important governing documents that outline the rules and regulations for the operation of a community association. While each community may have unique requirements, there are common provisions that are generally included. Transfer fees refer to the fees charged when ownership of property within the community is transferred from one party to another. These are often addressed because they relate to the financial aspect of property ownership within the community. Fidelity bonds are protections against theft or dishonesty by managers or employees of the association. This provision is significant because it seeks to protect the association’s funds, ensuring that there are safeguards in place against potential financial misconduct. Arbitration procedures are also commonly included in community bylaws. These procedures are important as they provide a method for resolving disputes between the association and its members, specifying how conflicts should be handled without resorting to litigation. On the other hand, property management fees are typically not found in the bylaws themselves. While the association may incur management fees and these fees could be outlined in a contract with a property management company, they do not usually constitute a governing rule or procedure as defined within the bylaws. Bylaws focus more on the governance structure, roles, responsibilities, and member rights, rather than detailed operational costs or specific service fees