How Many Florida Condo Associations Are Financially Sound?
This is another trick question, because the definition of financially sound varies depending on who you are asking. In terms of whether or not a Florida Condominium Owners Association has enough money to responsibly operate, maintain, and protect the building and property, the answer to our headline question is “Not as many as there should […]
Time to Pay the Piper: New Mandatory Reserve Requirements for Florida Condominiums
“Florida law requires every condominium’s annual budget to include both operating expenses and reserves for capital expenditures and deferred maintenance. Operating expenses are those incurred during the day-to-day operations of the condominium (e.g., landscaping, pool maintenance, and management fees). Capital expenditures and deferred maintenance, on the other hand, are those incurred during the sporadic repair […]
Condo ‘Hunger Games’: Race for Resources Underway as Building Safety Act Deadline Looms
Condo owners and associations are engaged in a fight for resources as they compete for necessary repairs in order to comply with the Building Safety Act. It’s like the “Hunger Games,” according to Colliers’ Greg Main-Baillie, who works with condo associations, as he said there’s a race to meet the Building Safety Act’s deadline of December 2024 […]
How to Choose a Property Management Company
“No two communities are identical. That being said, each community has various factors which influence what type of management will most effectively help them accomplish their goals. Some of these factors include availability of resources and the complexity of the community itself:” READ MORE HERE
Residents ordered to evacuate building near deadly Surfside condo collapse in Florida
“Residents of a Miami Beach building on the same street where a condominium collapse killed nearly 100 people were forced to evacuate on Thursday evening after officials determined the structure was unsafe and ordered them to leave.” READ MORE HERE!
One year after Surfside collapse, two California startups create Carfax-like reports for HOAs – Orange County Register
“As family and survivors commemorate the one-year anniversary of the deadly Surfside, Fla. collapse on Friday, June 24, two Southern California companies are offering new tools to help condo buyers and owners assess the strength of their own owners’ associations. Their goal is to avoid pitfalls like those that may have contributed to the tragedy […]
Florida’s Coastal Condominium Communities Brace For Complying With The Newly Passed Condominium Safety Bill
Florida’s Coastal Condominium Communities Brace For Complying With The Newly Passed Condominium Safety Bill NEW SMYRNA BEACH, Fla. (PRWEB) August 18, 2022 When the 12-story Champlain Towers South in Surfside collapsed on June 24, 2021 and took the lives of 98 people with it, it put into motion sweeping legislation designed to address decades of a […]
Sensible public policy: CAI meets with White House to discuss condo safety
H.R. 8304. The Rapid Financing for Critical Condo Repairs Act H.R. 7532. The Securing Access to Finance Exterior Repairs (SAFER) in Condos Act “ Representatives from the Community Associations Institute (CAI) joined forces with Senator Jason Pizzo of Florida to engage in a productive meeting with White House officials on September 20th. Their primary focus was to address […]