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Sign up freeCheck whether your late fee and interest rate are within the statutory caps, and see the mandatory payment-application order.
Association type
The single delinquent installment the late fee is based on.
Leave blank to just see the cap.
Statutory default is 18% if the declaration is silent.
Check whether a planned increase hits any statutory ceiling.
Enter the monthly assessment to run the check. The late fee, interest rate, and dues increase are optional.
Common Elements is where Florida boards and managers compare collections vendors, talk through the operational realities the statute leaves open, and find counsel when a delinquency turns into a lien.
Take this back to the association's record, or ask a professional to look at the result.