Q: I’m a real estate broker and have been contacted by a residential homeowners’ association (HOA). They want me to manage the HOA. I’ll be responsible for doing things like preparing the HOA’s budget, noticing owners of meetings, and disbursing the HOA’s funds. Would I be required to obtain a Community Association Management (CAM) license before engaging in this activity?
A: It depends. Community Association Management is defined in Section 468.431, Florida Statutes, as “any of the following practices requiring substantial specialized knowledge, judgment and managerial skill when done for remuneration and when the association or associations served contain more than 10 units or have an annual budget or budgets in excess of $100,000: controlling or disbursing funds of a community association, preparing budgets or other financial documents for a community association, assisting in the noticing or conduct of community association meetings, and coordinating maintenance for the residential development and other day-to-day services involved with the operation of a community association.”
If you’re conducting the types of activities outlined in the definition (which you would appear to be doing) for compensation and the association served contains more than 10 units or has an annual budget in excess of $100,000, you would be required to obtain a CAM license. This type of license may be obtained from the Department of Business and Professional Regulation (www.myflorida.com/dbpr).