Tackling Drought: Taking Action to Preserve Florida’s Water Resources
In recent months, concerns about drought conditions in Florida have been circulating. According to the latest U.S. Drought Monitor report, approximately 24 percent of the state is currently experiencing moderate drought conditions, with an additional 5 percent classified as severe drought and 33 percent labeled as abnormally dry. With a few more weeks remaining in […]
Requiring Workers’ Compensation
The inclusion of workers’ compensation insurance in every contract is of utmost importance, and its significance cannot be overstated. It is quite astonishing to learn that many community association board members and managers, who strive to safeguard their community association, appear bewildered when asked whether they mandate vendors to possess workers’ compensation insurance as a […]
What Makes a Good Reserve Study?
Achieving an effective reserve study is a goal shared by many. But what exactly does it entail? Here’s a comprehensive guide: Complete Reserve Component List: A good reserve study should include all the necessary components without any omissions or items that should be covered by the operating budget. Ensure accurate estimates of Useful Life (UL) […]
How Many Florida Condo Associations Are Financially Sound?
Defining Financial Soundness for Florida Condominium Owners Associations Determining whether a Florida Condominium Owners Association (COA) is financially sound can be subjective, as opinions vary depending on who you ask. In this article, we will consider “financially sound” as an Association’s ability to responsibly cover current operating costs and adequately prepare for future anticipated repair […]
Florida’s New Condo Reserve Law: Balancing Safety and Financial Impact
In the wake of the tragic collapse of the Champlain Towers South in Surfside last year, Florida Governor Ron DeSantis passed legislation requiring emergency reserve funds for condominiums across the state. While the intention behind this law is to enhance safety, there are concerns about its potential financial impact on condo owners, landlords, and Airbnb […]
CONDOMINIUM SAFETY PUBLIC POLICY REPORT
“Following the tragic collapse of the Champlain Towers South Condominium Association in Surfside, Fla., condominium residents and volunteer board members around the world questioned the safety of their own communities. CAI compiled information and resources to help concerned residents better understand structural integrity, maintenance, and reserves.” http://CONDOMINIUM SAFETY PUBLIC POLICY REPORT
The Impact of Short-Term Rentals on Community Dynamics
In a dynamic article featured in HOA Resources, Laura Otto delves into the far-reaching consequences of short-term rentals on residential communities. With the growing popularity of platforms like Airbnb and VRBO, communities are grappling with the challenges posed by transient occupants and the potential implications for community standards. Let’s explore the key findings and considerations […]
‘It’s Not Fair’: Hialeah Condo Owners Upset Over Assessment Fee
Story by Ryan Nelson • Jan 18 Many El Pueblo de Vera condos owners in Hialeah told NBC 6 they’re facing a huge financial burden as a result of a special assessment. ‘It’s Not Fair’: Hialeah Condo Owners Upset Over Assessment Fee© Provided by NBC Miami The condo association’s secretary, Juan Gomez, says the roofs of the three buildings […]
Mastering Self-Management: Key Benefits, Challenges, and Strategies for Small HOAs
Self-management of a small homeowners’ association (HOA) offers a myriad of advantages, including cost savings, increased efficiency, and greater control over community affairs. However, it is crucial to acknowledge that self-management also presents unique challenges. To ensure a successful self-managed HOA, the board must employ the right tools and strategies. In this article, we will […]
Florida condo owners brace for rising insurance rates
SINGER ISLAND, Fla. — Many South Florida condo owners are getting a holiday surprise they weren’t expecting — paying more for insurance. It’s all part of the state’s insurance crisis that has hit homeowners all year. “The insurance this year is hitting us hard,” Johannes Neckermann, who sits on a condo board on Singer Island, […]