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Take Action today have one of our Legal Members help with a comprehensive, custom-tailored for your community updates to all three documents—the Declaration, the Bylaws, and the Articles of Incorporation

Take Action today have one of our Legal Members help with a comprehensive, custom-tailored for your community updates to all three documents—the Declaration, the Bylaws, and the Articles of Incorporation

  • Posted: Mar 14, 2021
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Are your community Documents Updated?

Homeowners Associations and Condominium Associations have three governing documents: the Declaration, the Bylaws, and the Articles of Incorporation.
The Declaration is the “contract with the membership” – it contains things like pet restrictions, vehicle restrictions, guest rules, the ability to do background screening on incoming buyers and tenants, insurance obligations, and other things that affect every community member’s everyday life.
The Bylaws are your go-to for procedures such as who gets to vote? How many members comprise the board? When are your elections? Who can be on the board? Who can call meetings? When is the annual meeting?
And the Articles of Incorporation are your contract with the State of Florida that incorporate you as a corporation-not-for-profit.
All three documents reference one another, and it’s important to have congruency.

Take Action today have one of our Legal Members help with a comprehensive, custom-tailored for your community updates to all three documents—the Declaration, the Bylaws, and the Articles of Incorporation

Covid-19 has brought many changes; every community should have these added to their governing documents.

 

The Process of updating governing documents.

The board shoulders a bit more responsibility – giving us lots of information about your association—and then we collaborate together on the tougher provisions, ensuring you have the very best guidance and governing documents that are perfect for your community.

  • Search of original documents and amendments all the way through the mailing of proxies and finally recording of your new documents..
  • Our presence at town hall meetings, board meetings, or assistance with mailings.
  • There will be a lot of questions from owners, we can help answer these for your community.

Legal Members can provide not only guidance about your community standards, but also lots and lots of ideas from all of the other communities with whom we work! Some of the most popular updating provisions these days include: preventing AirBNB and sober homes, creating a non-smoking building (while grandfathering in current residences), eliminating investors, protecting the association from corporate takeover, and screening new residents and tenants for criminal histories and good credit references!

We are here to help protect and modernize your community!

 

How much time does it take to update documents?

This depends quite a bit on you! As soon as you retain our services with payment, we send you a packet of information you need to get started. We also are ready to schedule your telephone conference within the following fourteen days. That said, some associations need a bit of extra time—someone’s on vacation, or it’s hard to coordinate calendars with everyone. (And that is perfectly alright!)

You will also have an opportunity, after our phone conference, to review everything before we create your docs. Rewriting 60-100 page documents takes a bit of time! We ask for six-to-eight weeks to create your new documents, and then we send them to you.
Once you get them, you’ll start “getting the vote” in your community! Some Associations can do this within a few weeks—and for others, the process can be months! This timeline is what fits best for your community, and we are happy to provide support in any way needed.

Updating governing documents can be an exciting time for your community—there are so many incredible updates to protect and modernize your association!

 

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Widespread immunization is key to ending the coronavirus pandemic, but a significant number of Americans are reluctant to get their vaccines because of financial worries, despite the fact that it’s free to every American

Widespread immunization is key to ending the coronavirus pandemic, but a significant number of Americans are reluctant to get their vaccines because of financial worries, despite the fact that it’s free to every American

  • Posted: Mar 06, 2021
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Money worries are holding Americans back from getting the vaccine

Widespread immunization is key to ending the coronavirus pandemic, but a significant number of Americans are reluctant to get their vaccines because of financial worries — especially people of color.

More than a third of adults are concerned about having to pay out of pocket for the vaccine, despite the fact that it’s free to every American, according to a recent survey from the Kaiser Family Foundation. Additionally, a third are worried about missing work if the side effects make them sick, while 1 in 6 are concerned about having to take time off to get the vaccine.

“If you’re a low-wage worker, you’re far less likely to have access to paid sick days,” Elise Gould, senior economist at the Economic Policy Institute (EPI), told Yahoo Money. “So that simple fact of getting to a vaccine site, spending the time there, doing it again, and then potentially having side effects could make economically fragile families pass.”

“It’s very much of an issue,” she added.

 

‘Definitely a role for employers to play here’

The addition of Johnson & Johnson’s vaccine is crucial in addressing some of the vaccine hesitancy. Because it’s only one dose, workers don’t have to worry about missing extra days of work.

“The Pfizer and Moderna vaccines were the two that were available first to people in this country and both require two doses,” said Maura Calsyn, acting vice president for health policy at the Center for American Progress. “That’s two days potentially of missing work, two days potentially of having some side effects. With the J&J vaccine being authorized by the FDA, that’s really important because it’s one dose so that halves the concern potentially.”

There are no federal requirements for paid sick leave. However, eight states and the District of Columbia have enacted their own statewide paid family and medical leave laws. Some companies, like Trader Joe’s and Dollar General, have offered their employees paid time off to get their vaccines, but this isn’t the case for every business across the country.

“There’s definitely a role for employers to play here, which is making it clear to their employees that they want them to get vaccinated and having policies at work that say you can take paid time off to get the vaccine but if you get sick from the side effects of the vaccine, you can take time off,” Liz Hamel, vice president at the Kaiser Family Foundation, told Yahoo Money.

This is especially important for hourly workers, who are often low income and lose pay if they take any time off, along with essential workers, Gould said.

“It’s definitely not a negligible hurdle,” Gould said.

 

Research has found that people of color represent a disproportionate amount of essential workers, and they also account for a large amount of deaths from COVID-19.

And while 34% of those unvaccinated are worried about missing work because of vaccine side effects, that number is even higher among Black and Hispanic adults at 49%. And 45% of them are concerned about having to pay for the vaccine.

“It’s particularly important to address some of those concerns and information needs for those populations if we want to get to a more equitable outcome in terms of who’s getting the vaccine,” Hamel said.

According to Calsyn, the most important factor is vaccine education, specifically ensuring that people understand they don’t have to pay for the vaccine and making sure they understand that side effects should not be a deterrent. But paid sick leave and providing more vaccine locations near people’s work are key, especially for those in communities most vulnerable to the COVID-19.

“It’s emblematic of inequities across the health care system,” Calsyn told Yahoo Money. “I hope that there’s some additional flexibility on when you can get the vaccine, hopefully as supply increases, more appointments available for people, and mobile clinics and the retail pharmacy program.”

Adriana Belmonte is a reporter and editor covering politics and health care policy for Yahoo Finance.

Keep up to date with Covid News for our Industry and State on SFPMA

 

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NEW Video Section: CONDO AND HOA VIDEO’S & COURSES on sfpma

NEW Video Section: CONDO AND HOA VIDEO’S & COURSES on sfpma

  • Posted: Feb 25, 2021
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CONDO AND HOA VIDEO’S & COURSES

Educational Videos & Webinar Presentations

Videos and Webinar presentations offered to Clients that work and live in Condo, HOA’s and the Management Industry. Learn at your own pace, some of the presentations provide course certificates of completion while others offer you the ability to learn valuable lessons on the many questions you may have for your Condo and HOA.  Below you can find videos on; Legal and Legislative presentations, Q & A for Condo and HOA, Collections, Accounting and Taxes, Education and Licensing, Become a CAM and many more….

 

Educational Providers: Florida Member Companies with The State of Florida Property Management Association.

In our efforts to bring educational courses to our industry in a safe way, Our Members provide many courses online through Zoom and Video presentations. Take advantage of these online Courses many are approved by the State of Florida where after watching, joining and taking part in will give you credits and certifications for the Courses. These lively, interactive and informational Video courses are approved for board member certification and property manager continuing education credits. (ECU Credits) some are held in a Video setting while others are online through Zoom and other platforms. SFPMA is happy to bring to you these Educational Resources for you to take part in.

View and Learn through Videos & Courses offered to Condo & HOA Board Members throughout the State of Florida. 

View our YouTube Channel and keep up to date with Members, Courses, and Learn through the Great Videos for our industry!

 

 

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DBPR reminds you that hurricane season is just around the corner. free hurricane guide

DBPR reminds you that hurricane season is just around the corner. free hurricane guide

  • Posted: Feb 25, 2021
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DBPR reminds you that hurricane season is just around the corner. We have produced a free hurricane guide

preparedness before a storm hits and offers tips and resources for what to do after a storm has made landfall.

Download here: http://bit.ly/2Jcfwp0

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Broward County Condo & HOA Expo Tuesday, February 23, 2021!

Broward County Condo & HOA Expo Tuesday, February 23, 2021!

  • Posted: Feb 17, 2021
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Join Us Tuesday, February 23, 2021!

Property Management Expo & Seminars

Seminars: 9:00 am – 4:30 pm
Exhibits: 10:30 am – 3:00 pm

For one day only, The Signature Grand will be packed with the latest products and services as well as an array of industry experts. It’s an unparalleled opportunity to make valuable connections and speak directly with local and national experts about the topics that are relevant to you and your property.

Register Today

In the interest of public health and safety, and in accordance with state guidelines, the Broward County Condo & HOA Expo has reduced capacity in meeting rooms and public spaces.  At this time, it will be mandatory for all participants to wear a face mask or protective covering, and we ask that everyone observes social distancing in all public event spaces.

Get legal insights, financial advice, communication tips, proactive management solutions and much more from some of the region’s top professionals. This one-day event will also give you a sneak peek at the latest design trends gracing today’s most prestigious developments, plus innovations in building and remodeling and the newest energy efficiency options.

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Differentiating Class A, B, and C Office Space by SFPMA

Differentiating Class A, B, and C Office Space by SFPMA

  • Posted: Feb 17, 2021
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Differentiating Class A, B, and C Office Space

 

Many of our members take the time to complete projects using the County Codes that are in place, While there are so many companies that cut corners or a Management company that looks at prices we have to ask? How do you Value the Buildings you manage?

We have one of the Top Condo, HOA and Property Management Directories in Florida. Through the many Categories clients can find only the Best of the Best to have their maintenance requests performed on time, up to Code in their buildings and properties from Jacksonville to the Keys.

Search our Directory

When only the best will do, Find companies all over Florida ready to help you!

Remember: “Skilled labor isn’t cheap; cheap labor isn’t skilled”. by James Terry of GreenTeam Service Corp.

 

Office buildings are generally classified into one of three categories: Class A, Class B, or Class C. Standards vary by market, and each category is defined in relation to its counterparts. Building classification allows a user to differentiate buildings and rationalize market data — that said, classification is an art, not a science. While a definitive formula for each class does not exist, the general characteristics are as follows:

Class A
These buildings represent the newest and highest quality buildings in their market. They are generally the best looking buildings with the best construction, and possess high-quality building infrastructure. Class A buildings also are well located, have good access, and are professionally managed. As a result of this, they attract the highest quality tenants and also command the highest rents.

Class B
This is the next notch down. Class B buildings are generally a little older, but still have good quality management and tenants. Oftentimes, value-added investors target these buildings as investments since well-located Class B buildings can be returned to their Class A glory through renovations such as facade and common area improvements. Class B buildings should generally not be functionally obsolete and should be well maintained.

Class C
The lowest classification of office building and space is Class C. These are older buildings and are located in less desirable areas and are often in need of extensive renovation. Architecturally, these buildings are the least desirable, and building infrastructure and technology is outdated. As a result, Class C buildings have the lowest rental rates, take the longest time to lease, and are often targeted as re-development opportunities.

The above is just a general guideline of building classifications. No formal standard exists for classifying a building. Buildings must be viewed in the context of their sub-market; i.e., a Class A building in one neighborhood may not be a Class A building in another.

 

 

 

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Preventive Maintenance for your Properties this season, here is a list of Tasks to check off before temperatures drop.

Preventive Maintenance for your Properties this season, here is a list of Tasks to check off before temperatures drop.

  • Posted: Feb 16, 2021
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Exterior Clean-Up and Maintenance
Here are the tasks to check off before the temperature drops.

 


Clean Up Yards
Clean up those fall leaves and remove fallen branches or other organic debris. Letting all that rotting material linger on the ground, especially under a layer of snow, discourages grass growth in the spring.

Don’t prune your bushes, though. Many people do that to prepare for spring, but pruning bushes that are slowing down growth to prepare for winter can inhibit further growth when the weather warms.

Clean the Gutters
Clear gutters of leaves, branches, and other debris. Clogged gutters can’t handle runoff from melting snow, which can puddle and freeze on roofs, causing ice dams and leaks.

Even if you’re not in a snowy area, rain that can’t drain through the gutters will find another way off the roof, usually through gaps that lead into the walls.

Assess the Roof
While your team is up there, have them take a good look at the roof. Make sure there are no loose shingles or areas of decay. Check around vents to make sure they’re sealed properly. Gaps are a great place for water and melted snow to leak down into the home.

Line Up a Snow Removal Company
If you haven’t already, hire a snow removal company now to clear driveways and walkways. Don’t wait for the first major storm to start calling around. You probably won’t find anybody.

Pro tip: If you’re using a customizable property management system, use custom fields to track maintenance projects across your properties. Then you can create customized reports to monitor the status of your fall maintenance checklist.

Tend to Your Gardens
Fall is the time to get flower beds ready for spring and summer. Prep your beds by adding compost and turning the soil. You’ll want to plant your spring bulb, as well.

Winterize the Sprinkler Systems
When you’re done watering your lawns for the year, make sure you have them drained properly. Water left in sprinkler systems can freeze and crack your pipes.

Winterize Pools and Decks
If your properties have pools, get them ready for winter by cleaning, balancing and adding winterizing chemicals, lowering the water levels, and covering them.

For decks, store the furniture and inspect them for loose boards, railings, or screws. Have any weak spots repaired. Then, give the deck a good cleaning and a layer of water seal, if it needs it.

Pro tip: Have your snow-removal company take care of decks, too. Prolonged contact with snow can damage wood, and all that weight puts a lot of pressure on the deck’s structure.

 

 

Interior Maintenance
Your properties are all set on the outside. Now it’s time to take a look inside. Schedule a time to inspect your properties and make sure all of these tasks are performed.

Check Insulation
Take a look in attics to make there is sufficient insulation. If it’s an older home, consider having it assessed for heat efficiency and getting insulation blown into the walls, if necessary.

Pipes that run along external walls should be insulated, as well, to keep from freezing and bursting in extremely cold weather.

Pest Control
As the weather gets colder, animals are going to find your cozy home pretty attractive. To keep pests out, plug up gaps, cracks, and other access points. Taking care of it now is a lot cheaper than removing a family of raccoons or a mouse infestation in the middle of winter.

Check Furnace and HVAC Systems
Schedule a furnace cleaning to have filters replaced and buildup removed, particularly for oil-burning furnaces. Check HVAC systems and keep replacing the filters on a regular basis.

Inspect Windows and Doors
Check the seals on windows and doors to make sure they’re airtight. Caulk or add rubber seals to areas where cold air or water could seep in.

If the windows are older, switch out screens for storm windows.

 

Safety Maintenance
Regular safety checks are always a good idea. Perform one in the fall to address season-specific concerns.

Flood Prevention
In areas that experience heavy rains or melting snow, make sure your properties are ready for flooding. Seal up cracks in foundations and make sure water from roofs and gutters is channeled away from the home.

Make sure driveways and walkways have proper run-off and drainage. You may even want to consider planting rain gardens, which can absorb large amounts of water to prevent flooding.

Fire Prevention
Fire prevention measures can be performed on both the interior and exterior of a property. For the exterior, remove dead trees and branches from the yard, and take down tree limbs that hang over roofs.

Pro tip: Taking down large limbs hanging over roofs can prevent damage from branches that break in winter ice storms or under the weight of snow.

Inside the home, make sure tenants aren’t using space heaters and that drapes and other cloth materials are kept away from radiators.

Carbon Monoxide/Smoke Detector Maintenance
Check all carbon monoxide and smoke detectors on a regular basis. Replace batteries and make sure detectors are placed on every floor in the house.

If a tenant has removed them, educate them on the importance of the detectors and make sure they keep them up.

Fireplace and Chimney Maintenance
Have a chimney-cleaning company come in to inspect and clean chimneys and fireplaces. They will make sure the chimney is structurally sound and that there is no debris inside it. They’ll also clean both the fireplace and chimney to remove ash and creosote.

Fall maintenance is essential to keeping your tenants safe and happy, while keeping your owners from having to spend money on expensive repairs. Take this checklist and set up a plan to knock each one of these tasks out before the weather gets too cold. Your tenants and your owners will thank you.

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    Now we know many here in Florida probably will not need to hire a snow removal company? but this was published by our Staff and sent to a national management company who asked us for a list for winter. We are pleased to republish this list of things to do for all of your board members, property managers to use.  We are also promoting our members; these companies we have listed on our members directory work hard every day tending to the requests we get, these companies are listed for all to find and use.

    Select a Category, Find a company,  search for a Sale in each category.  Then Simply Call speak with and Hire Members of SFPMA – State of Florida Property Management Association

     

     

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    Learn how to manage the unrelenting tidal wave of parcel deliveries

    Learn how to manage the unrelenting tidal wave of parcel deliveries

    • Posted: Feb 08, 2021
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    Watch our webinar on the challenges faced by many residential communities during COVID-19.

    Learn how to manage the unrelenting tidal wave of parcel deliveries.

    https://hubs.ly/H0FvlYr0

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    January Events for Board members and Managers: View our Calendar

    January Events for Board members and Managers: View our Calendar

    • Posted: Jan 18, 2021
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    FIND COURSES TRAINING AND EVENTS IN FLORIDA.

    New Courses Training & Events in Florida have been Added!

    Educational Webinars, Online Seminars, Radio Shows that are Available

    OnLine! Licensing – Start your new Career as a Property Manager …

    TUE19

    CONDOMINIUM BOARD MEMBER CERTIFICATION

    WEBINAR Florida

    CONDOMINIUM BOARD MEMBER CERTIFICATION  01/19/2021  12:00 pm – 2:00 pm  https://us02web.zoom.us/webinar/register/WN_z99HrslSTwOBYvSRCFGWFQ  Webinar Event Instructor: Andrew B. Black, Esq., B.C.S. Course #: 9630075 | Provider #: 0005092 CAM CE credit: 2 credits in IFM or ELE This webinar covers the essentials of condominium board membership, and is updated regularly to remain current with amendments to Florida legislation. In addition, this webinar satisfies Florida’s requirement for new condominium board members. It also serves as an excellent refresher course. This course is for Condominium Association Board Members only.

    CH-CH-CHANGES – MATERIAL ALTERATIONS / SPECIAL ASSESSMENTS

    WEBINAR Florida

    CH-CH-CHANGES – MATERIAL ALTERATIONS / SPECIAL ASSESSMENTS by Katzman Chandler Wednesday, January 20, 2021 from 1:00 PM to 2:00 PM EST Learn what does and does not constitute a material alteration which requires membership approval. At some point, your Board will want to make alterations in the Community. Learn how to handle this process correctly from the start. Please join our Statewide Educators, Bill and Sue Raphan, as they present this fun and informative educational course online via Zoom Webinar Services. Space is limited to the first 150 registrants, so please do not delay! Provider #0007237 Course #9628492 1 hour Manager Continuing Education Elective Credits Register Today

    Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL

    Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL Jan 24 @ 11:00 am – 12:00 pm Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL The show is streamed live on the web at www.850wftl.com and on your mobile device. Presents a forum for Board members and owners to tell their side of the story. The show randomly has guest speakers who are experts on the daily problems associations encounter. All issues that our associations encounter each day are proper topics for discussion. Expect to hear from politicians, Board members, owners, tenants, community association managers, developers, community association accountants, construction industry personnel and other government officials. Listeners call in and ask questions of attorney Eric Glazer and his legal team as well as any guest present.

    FIDUCIARY DUTY, BUSINESS JUDGMENT & FRAUD PREVENTION IN CONDOS AND HOAS / BOARD MEMBER PROTECTION

    WEBINAR Florida

    FIDUCIARY DUTY, BUSINESS JUDGMENT & FRAUD PREVENTION IN CONDOS AND HOAS / BOARD MEMBER PROTECTION by Katzman Chandler Wednesday, January 27, 2021 from 1:00 PM to 2:00 PM EST Learn about your Fiduciary Duty as a Board Member, when and how the Business Judgment Rule applies to Board decisions, and what protections are offered to Board Members through the Association’s Directors and Officers insurance. Find out the most common reasons for Board Members being sued, and learn how to discover and prevent fraud in your Association. Please join our Statewide Educators, Bill and Sue Raphan, as they present this fun and informative educational course online via Zoom Webinar Services. Space is limited to the first 150 registrants, so please do not delay! Provider #0007237 Course #9629161 2 hours Manager Continuing Education Elective Credits Register Today

    Tips To Restore Your Shoreline and Prevent Erosion by SOLitude Lake Management

    WEBINAR Florida

    Tips To Restore Your Shoreline and Prevent Erosion by SOLitude Lake Management Wednesday, January 27 @ 2:00 pm (EDT) Kick off the new year with our first educational webinar of 2021! Shoreline erosion is a concerning reality that all lake and pond owners will face, but with informed management it is possible to reverse sedimentation and set up your waterbody for continued success. Unlike common fixes, which tend to lack aesthetic appeal or long lasting stabilization, stakeholders can now combine new solutions with modern buffer management techniques to achieve both! Join our experts to learn about the best strategies to reinforce your shoreline AND make it a focal point on your property. Registration Is Free. Spots Are Limited. Register Today!

    GET BOARD CERTIFIED AND FULFILL YOUR 2021 LEGAL UPDATE CREDITS! by Condo Craze and HOAs

    GET BOARD CERTIFIED AND FULFILL YOUR 2021 LEGAL UPDATE CREDITS! by Condo Craze and HOAs JANUARY 28th, 6:00 P.M Managers: Our Course is now approved for Three 2021 Legal Update Credits. Course Number: 9630640 TO REGISTER: CLICK HERE: OR CALL OUR OFFICE AT: 954-983-1112 CONDO AND HOA EDUCATION IS BACK! GET BOARD CERTIFIED FROM THE COMFORT OF YOUR OWN HOME. REMEMBER, IF YOU DON’T GET CERTIFIED WITHIN 90 DAYS OF GETTING ON THE BOARD – YOU ARE OFF THE BOARD.

    Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL

    Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL Jan 31 @ 11:00 am – 12:00 pm Condo Craze & HOAs HOSTED BY – ERIC M. GLAZER, ESQUIRE SUNDAYS AT 11:00 a.m. ON 850 WFTL The show is streamed live on the web at www.850wftl.com and on your mobile device. Presents a forum for Board members and owners to tell their side of the story. The show randomly has guest speakers who are experts on the daily problems associations encounter. All issues that our associations encounter each day are proper topics for discussion. Expect to hear from politicians, Board members, owners, tenants, community association managers, developers, community association accountants, construction industry personnel and other government officials. Listeners call in and ask questions of attorney Eric Glazer and his legal team as well as any guest present.

     

     

     

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    CAM LICENSING COURSES: START YOUR NEW CAREER | SFPMA

    CAM LICENSING COURSES: START YOUR NEW CAREER | SFPMA

    • Posted: Jan 12, 2021
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    CAM LICENSING COURSES: START YOUR NEW CAREER

    Online Courses for Licensing can be completed while your at home.

    This might be a great time to Take your online Testing and become a CAM

    CAM License Courses and Board Members Certification in Florida


    Our Industry Partners provide: Licensing Classes, Training and Licensing for CAM – Board Member Courses

    Enjoy our self-paced online class and comply with the State Education Requirement for Community Associations.

    As you were thinking of starting up property Management Services sometimes working with a broker for sometime can help you create relationships with other sales associates in that office that can prove to be good referrals. If you’ve had your license for 5 years you would qualify to get your broker’s license and when you feel comfortable it may be a good time to transition to your own company or even a different franchise. the property management association is a good tool, there is an enormous amount of liability and property Management

     

     

     

     


     

    Property Management Forms

    Now that you are getting your License you will need Management Forms!

    We have partnered with USLegalForms to give our clients Every Form you will need to help you set up your business, Lease Forms, Incorporation Documents, and so many others………

    Property Management Packages contains the essential forms to assist you in leasing your premises, complying with legal requirements, and keeping relations with your tenants amicable. Forms include the 1. Landlord Tenant Closing Statement to Reconcile Security Deposit, 2. Residential Rental Lease Application, 3. Residential Rental Lease Agreement, 4. Commercial Building or Space Lease, 5. Security Deposit Agreement and other forms.

     

    We offer Subscriptions – Where for a small fee you can download and get access to EVERY FORM YOU WILL NEED FROM THOUSANDS OF FORMS

     

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    Mortgage rates begin 2021 at a place no one would have believed a year ago | SFPMA

    Mortgage rates begin 2021 at a place no one would have believed a year ago | SFPMA

    • Posted: Jan 02, 2021
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    Mortgage rates begin 2021 at a place no one would have believed a year ago

    Ethan Rotberg

    An unbelievable year for home borrowers has ended with mortgage rates lingering just a notch above their latest all-time low — which was the 16th set during 2020, according to a popular survey.

    “All eyes have been on mortgage rates this year, especially the 30-year fixed-rate, which has dropped more than 1 percentage point over the last 12 months,” says Sam Khater, chief economist at Freddie Mac, the mortgage giant that has been tracking rates for nearly 50 years.

    The new year has begun with jaw-dropping rates helping homebuyers beat rising housing prices, and allowing homeowners to refinance and save thousands of dollars a year.

     

    Mortgage rates ticked up slightly last week to 2.67% for a 30-year fixed-rate home loan, from the record-low 2.66% a week earlier, Freddie Mac said on Thursday.

    One year ago, 30-year mortgages were averaging 3.72% — which seems almost astronomically high compared to today’s rates.

    “[It] was a fitting conclusion to a year that has seen mortgage rates plunge to levels that seemed unfathomable a few years ago,” says Matthew Speakman, an economist with Zillow. “But as a new year is set to begin, some notable upward risks to mortgage rates loom.”

    Though the newly passed COVID-19 relief bill had been expected for months, Speakman says the possibility of even more fiscal relief, along with important Senate runoff elections in Georgia, could prompt sharper movements in rates going forward.

     

     

    Freddie Mac is forecasting stronger economic growth in the new year, which could push rates away from their historic lows of 2020. In its latest forecast, the company predicts mortgage rates will rise to an average 3% in 2021.

    But, before that happens, homeowners have time to capitalize on rock-bottom rates by refinancing.

    More than 19 million mortgage holders still haven’t gotten in on the action, says mortgage technology and data provider Black Knight. Those borrowers could save an average $308 per month by refinancing now.

    A good refi candidate — with a solid credit score and at least 20% home equity — may want to lock in an ultra-low rate while those are available.

    If rates should pop unexpectedly, you’ll need to find other ways to reduce your housing costs. For example, you could comparison shop when you buy or renew your homeowners insurance, and potentially save hundreds of dollars on your coverage.

     

    With mortgage rates so low, Americans hoping to buy a home in 2021 are in a good position.

    “The steep rise in home prices during the second half of 2020 was muted by mortgage rates,” says Realtor.com’s senior economist George Ratiu.

    But the forecast is a bit cloudy, and Ratiu expects first-time buyers will eventually find it challenging to get a good deal on a loan while COVID cases are surging, unemployment is high and home affordability is shrinking. Like homeowners, buyers also must shop around to find the best mortgage deal.

    Rates on other popular types of home loans dropped last week, the Freddie Mac survey shows.

    The average for a 15-year fixed-rate mortgage fell to a record-low 2.17%, down from 2.19% the previous week, and nearly a full percentage point lower than a year ago, when the average was 3.16%.

    For 5/1 adjustable-rate mortgages, or ARMs, the average decreased from 2.79% to 2.71% — far below the year-ago average of 3.46%.

     


    Learn more about helping Condo, HOA Financing from our Banking and Finance Members of SFPMA

     

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