We recently held an educational webinar with Will Simons, RS from Association Reserves to discuss three major topics regarding reserve accounts in Community Associations. The webinar covered these major topics: The first section answers the philosophical question of “Why Have Reserves?” by examining the pros and cons of Associations with well‐funded Reserve accounts. The second […]
Tags Association Reserves, Condo, funded, HOA, percent-funded, Pooled, Reserve Study, straight-line
We recently held an educational webinar with Will Simons, RS from Association Reserves to discuss what a reserve study is and how such studies are used during an association’s budget planning process. The webinar covered: A review of the Florida Statutes pertaining to reserves Best practices for budgeting Plus, more! Click here to watch the […]
Tags Association Reserves, Budget, Condo, funds, HOA, Reserve Study, Webinar
Below is a great message from The Beach Condominium Association of Boca Raton and Highland Beach (BCA). This is an “Association of Condo Associations” in South Palm Beach for condos on or near the beach. The President of the BCA, Emily Gentile graciously agreed to let us share her letter to her member Associations, which […]
Tags BCA, Beach Condo Association, Boca Raton, Condo, Highland Beach, Miami, surfside
Do you have questions on how to keep your waterfront hi-rise condominium safe? We recently held an educational webinar with Evan Swaysland from Swaysland Professional Engineering Consultants and Michael Bianchini from Carousel Development & Restoration. The webinar covered: The typical concrete deterioration process for South Florida Corrosion of rebar Dealing with deteriorated concrete when it […]
Tags Beachfront, champlain, Condo, Hi-rise, Miami-Dade, Safety, waterfront
The recent condo collapse in Surfside has left many condo residents with questions and concerns. Below is a sample response to residents of a hi-rise condo. Dear Owners & Residents of Del Boca Vista, What happened last week to the condo building in Miami was devastating. I’m certain it leaves all of us with a […]
Tags Beachfront, champlain, collapse, Condo, Hi-rise, Miami, surfside, surfside condo collapse
Electric vehicles are becoming extremely popular. It is projected that by 2028, there will be over 3 million electric vehicles in the U.S. Many condo board members wonder what this means for them. In Florida, condo associations are required by law to accommodate an owner’s request to enable EV charging; however, the cost for this […]
Tags Association, Charging Station, Condo, Electric Vehicle, EV, Florida, HOA
It is not uncommon for boards to try to keep assessments down especially during times like COVID-19. One way that a board can accomplish the “appearance” of keeping assessments down while still covering the day-to-day expenses is to waive or underfund the reserves. At the time, waiving or underfunding reserves may not seem like a […]
Tags Assessments, Associations, Condo, Florida, HOA, Raphael Law, Reserves
Cypress Head, a Homeowners Association in Parkland, with over 450 homes has, and always will be considered a high-end community with an understated elegance. In recent years, the Board of Directors have elected to renovate many of the amenities to bring them up to date. One of the amenities that was not up to par […]
Tags Cypress Head, Fitness Center, Florida, HOA, Parkland, Project, Renovation
Do you find that your Association constantly has unexpected repair or replacement costs that you don’t have money budgeted for? If so, it may be a good idea for your Board to look into having a reserve study done for your community. I recently spoke with Will Simons, RS, President of the Florida office for […]
Tags Association Reserves, Condo, Florida, HOA, Projects, Repair, Replacement, Reserve Study, Reserves, Will Simons
Maintaining and contributing to Reserve funds is specifically designated within the Florida Statutes as a means of planning and preparing financially for maintenance, repair, and replacement of common area assets in a community association. Separate from an association’s Operating account, Reserve accounts are to be used for specific types of expenses, and not co-mingled with […]
Tags Association, Association Reserves, CEU, Condo, Florida, Funding, HOA, Reserve, Reserve Study, Will Simons