Frequently Asked Questions
Q: What are my voting rights in the condominium association?
A: Each unit Owner shall be a member of NBC Boat house Condo Assoc. Inc., and shall be entitled to (1) vote for each unit.
Q: What restrictions exist in the condominium documents on my right to use my unit?
A: Condominium units shall only be used for boat and vessel storage which abide by the “Rules and Regulations” of the Association. These rules restrict, among other things, length, size and weight of boats or vessels to be stowed, and numbers and locations of vehicles on condominium property.
Q: What restrictions exist in the condominium documents on the leasing of my unit?
A: No unit may be leased or sublet for a period less than thirty (30) days, and no more than one (1) year.
Q: How much are my assessments to the condominium association for my unit type, and when are they due?
A: Assessments are levied by the NBC Boathouse Condo Assoc. Inc. quarterly, and the quarterly amount per unit is $1,000.00, in accordance with the Operating Budget, exclusive of any special assessments.
Q: Do I have to be a member in any other association? If so, what is the name of the association, and what are my voting rights in this association? Also, how much are my assessments?
A: NBC Master Association, with the same rights as above. Assessments are included in the NBCBCAI dues.
Q: Am I required to pay rent of land use fees for recreational or other commonly used facilities? If so, how much am I obligated to pay annually?
A: There are no recreational or commonly used facilities for which the Unit Owners are obligated to pay rent or land use fees. However, this condominium does have a Sovereignty Submerged Land Lease which includes lease payments to the Board of Trustees of the Internal Improvement Trust Fund of The State of Florida, which are made by the Condominium Association through the Wet Slip Association.
Q: Is the condominium association or other mandatory membership association involved in any court case in which it may face liability in excess of $100.00? If so, identify each such case.
A: The NBC Boathouse Condo Association is not a party to any lawsuit in which it may face liability in excess of $100.00.
Q: Are the yearly financial statements audited?
A: Yes, Florida law requires associations with annual budgets more than $500,000.00 to have audited yearly financials.
Q: Is the management company a licensed condominium association management company?
A: Yes, the Association Manager is licensed with the Division of Business and Professional Regulation and is a licensed CAM.
Q: Is the condominium building insured?
A: Yes, The association maintains coverage to protect the condominium property, the association, the association property, and the common elements. Each unit owner is responsible for insuring their own boat and personal property.
Q: Who signs the checks for the Association?
A: The President and another Director are signatories on the accounts.