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The association suddenly needs a lot of money. How do you get it? Which way makes sense? (FL)

So many of our buildings are approaching the 40 year mark, requiring recertification in electrical and structural. Many buildings are younger yet still need major repairs to the concrete, balconies, pool decks and other portions of the common elements. The board is going to need a lot of money. Assuming you don’t have enough in reserves, how do you get it?    Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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Empire License says Get Ready for New Character for Advertising, TV and Toys: Black Friday

MIAMI, Fla. /FLORIDA NEWSWIRE/ — The day after the American Thanksgiving Day holiday has long been considered the biggest shopping day of the year in the United States. Dubbed “Black Friday” for many reasons, shopping on that day (via brick and mortar or e-commerce) has become part of the holiday tradition for most consumers. Empire License, Inc. is now very excited to introduce to the world their very own version of Black Friday: “Black Friday” the character, in the formation of animation and plush dolls. As the preferences and habits of consumers change and evolve,...

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Pesticides and Your Community (FL)

There is a lot to consider when choosing a pest control company or even keeping a pest control company. The vendor needs to accommodate the needs and ensure the health and safety of all parties, whether they are elderly, children, individuals with certain respiratory or immune disorders, allergies, etc. If you allow pets in your community, even that must be taken into consideration. It’s important for you to ensure that you have a licensed and properly insured company to handle your pest control.   Read the entire article………………………………....

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Community Associations Affected by the 2021 Legislative Session (FL)

This week we shall continue our annual review of the legislative changes which affect community associations, and continue with the main bill, Senate Bill 630, which took effect July 1, 2021. For the first two parts of the series, see Community Associations Affected by the 2021 Legislative Session, published on August 1, 2021, and August 8, 2021.    Part III……………………….      Part IV………………………….      Part V…………………………………....

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Omnibus Bill (SB 630) Brings Changes for Florida Condos, Cooperatives and HOAs

This year’s large community association omnibus bill will likely become law. This bill, which bears an effective date of July 1, 2021, contains changes which will impact condominiums, cooperatives and HOAs. At more than 100 pages, we will discuss only some of those changes in today’s CALL Alert. This bill, along with all the others CALL has been tracking throughout the 2021 Legislative Session, will be summarized in our year-end Legislative Guidebook.  Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing...

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1st Class Real Estate and Expetitle Announce Venture to Provide Tech-enabled Closings Across USA

MIAMI, Fla. /FLORIDA NEWSWIRE/ — Expetitle and 1st Class Real Estate are joining forces to create a national title partnership; offering a streamlined, remote home closing transaction to 1st Class’ customers. 1st Class Real Estate is a nationally recognized top brokerage. They have grown 470% over the past three years, placing them on the Inc 5000 list of the fastest growing private companies in America. “With all the new tech-enabled competitors coming into the market, like iBuyers, digital brokers, and alternative marketplaces, brokerages need to respond with digital innovation...

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Developments Face More Scrutiny After Catastrophic Miami Condo Collapse (FL)

The full consequence of the tragic Surfside, Florida, condominium collapse won’t be fully realized for years to come. For now, the deadly disaster at the Champlain Towers South stripped some luxury condominium buyers of the comfortable assumption that they’re buying a safely constructed property.    Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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Will Aventura’s New Law Help Condominium Owners or Simply Expose them to Liability? (FL)

The City of Aventura’s recently passed an Ordinance, which represents an effort to regulate structural oversight for community associations in the aftermath of the Champlain Towers tragedy in Surfside. The Ordinance requires community associations, including condominium associations and homeowners’ associations, to share all engineering, architectural, and life-safety reports that are conducted on a building with the City, which in turn is supposed to make these reports available for public viewing on a government-run website. The new law imposes this requirement on the “Responsible Person,”...

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Maintaining Civility in Community Associations (FL)

This past year has brought out divisiveness and discord at all levels of governance, including community associations. Although emotions always seem to run particularly high, community associations have been filled with neighbors with differing values, preferences, and opinions as to how the association should be run and maintained. Even pre-COVID, association governance could become intensely personal. The board makes tough decisions that impact members’ property values, enjoyment of the property, and quality of life   Read the entire article………………………………....

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Should Board Member E-Mails be Maintained in the Official Records? (FL)

Both the Condominium Act and Homeowners Association Act delineate a list of documents or items that a community association must maintain as official records of the association. Both statutes also include a catchall provision (i.e., Fla. Stat. §720.303(4) and Fla. Stat. §718.111(12)(a)(15)) generally requiring retention of all records of the association not specifically included in the statute, which are related to the operation of the association.   Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing...

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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