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  1. #1
    Join Date
    Oct 2006

    Default Maximum Interest Rate On Delinquent HOA Annual Assessments

    I live in a subdivision that is managed by a Homeowners' Association (non-profit corporation) that is managed by member volunteers that serve on the board of directors. There are members that are delinquent in their annual assessments--some back to 2001--. The Covenants, Conditions and Restrictions state that the HOA can charge a 10% penalty plus the maximum interest rate allowed by the State of Florida on delinquent dues/assessments. I've read Florida Statues, Chapter 687-INTEREST AND USURY; LENDING PRACTICES, and Chapter 720-HOMEOWNERS' ASSOCIATIONS and believe the rate is 18% but I'm not sure.

    Also, I authored a question at but the response was essentially a list of Florida Statues. In addition, I contacted my local County Clerk-Small Claims but was again unsuccessful.

    So, is there anyone here that can tell me the maximum rate of interest that a Homeowners' Association (non-profit corporation) in the State of Florida can charge a homeowner for delinquent annual assesments(dues).

    Thanks for any assistance provided.

  2. #2
    Join Date
    Mar 2005

    Default Re: Florida maximum interest rate on HOA delinquent annual assessments

    I've been told that the FL usury cap only applies to transactions secured by real property (like land & your house). I don't think HOA dues would fall under that category... if they fall under the usury cap, then it would be 18%, if not, then I don't think there is a cap for them.

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