When most people move into a managed community, they accept the fact that they will need to pay a fee each month for the homeowners association to take care of things like lawn care, leaf removal, rule enforcement and pool maintenance. The preference for this type of living situation is evident in the prominence of managed properties popping up around Florida and the rest of the country. Equifax.com reports that the number of HOA communities has risen from just under 50,000 in 1980 to over 300,000 in 2010. These neighborhoods also account for 80 percent of all new construction in the United States. With the high likelihood that Florida residents will live in a managed community at some point in their lives, it is important for them to realize that neglecting to pay their monthly fees can lead to serious consequences.
Did you know that here in Florida, a person or company who rents a commercial property must pay sales tax on their lease? If you're a business owner who is currently renting commercial property, chances are you do. But for those who aren't, or are considering renting real estate, sales tax on leases is something you not only want to consider but plan for down the road.