Tis the season for condominium associations and homeowner associations to get prepared for complying with Florida Statutes. For the typical condominium complex, now is the time to contact a Florida CPA firm that focuses on real estate accounting requirements. Most condominiums are required to provide year-end reporting shortly after the fiscal year end is completed.
Given the number of condominiums in Florida, I highly recommend that you contact CPA Firms in November and December to secure bids. The Florida Statute does not allow for electronic distribution of the financial reports so advance planning is highly recommended. I also recommend that you engage only CPA Firms that have extensive experience with condominium and homeowner associations to avoid surprises later.
Contacting a CPA early also help to ensure that association obtains the best price as most CPA Firms increase the price for rush projects.
At Canner Brody and Yan, we are a Florida licensed CPA firm operating for over 65 years. Very few firms in South Florida that focus on real estate accounting have been around this long. Contact Andrew Brody, CPA, MBA, JD at 305-231-2150 to discuss your real estate accounting needs.