FL S0734

Increases minimum damages for willful denial of access to homeowners association records from $50 to $500 per day (up to 30 days) and allows members to sue community association managers or management firms directly for violations.

Requires community association managers or management firms to submit annual reports to the Division of Florida Condominiums, Timeshares, and Mobile Homes beginning November 22, 2018, and resubmit upon material changes in association information.

Revises developer control transition triggers for homeowners associations based on community size, including timelines of 3-20 years and percentage thresholds (75-90%) of parcel conveyance to nondeveloper members.

Authorizes the Department of Business and Professional Regulation to provide binding arbitration for disputes involving covenants, assessments, and official records; allows mediators or arbitrators certified by county or circuit courts to conduct proceedings.

Requires sellers to provide prospective buyers with association governing documents at least 7 days before closing and grants buyers a 3-day termination right; creates causes of action against developers for abandoned amenities and unauthorized use of association funds.