What is the minimum annual budget threshold for a community requiring a CAM license?

The correct answer reflects the minimum annual budget threshold of $100,000 for a community association to require a Community Association Manager (CAM) license. This threshold is important because it establishes which communities must adhere to the more stringent regulatory requirements surrounding management practices.

A community association with an operating budget below this amount may not necessitate the hiring of a licensed CAM, allowing for more flexibility in how the community is managed. This threshold is often set to ensure that communities with larger budgets, which likely involve more complex operations, have adequate professional oversight to protect the interests of the residents and maintain the integrity of the community.

Understanding this threshold is crucial for anyone involved in community association management in Florida, as it determines whether a CAM license is necessary. This regulation safeguards the interests of homeowners in larger communities that may have more comprehensive needs and responsibilities, such as financial management, maintenance, and compliance with legal requirements.