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DEVELOPERS ARE ON THE PROWL

DEVELOPERS ARE ON THE PROWL

  • Posted: Dec 08, 2021
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DEVELOPERS ARE ON THE PROWL

by Condo craze @HOAs

I got a call this week from The Sun Sentinel.  They asked if I had heard about the prominent developer who approached the owners of the other Champlain Towers buildings that are still standing, offering to buy out all of their units.  I had not, but I’m not surprised in the least about it.  In fact, it’s going to be happening more and more.  Developers are going to be approaching lots of owners in condominiums that are distressed.

Why approach the owners in the remaining Champlain Towers condominiums?  I’m sure the developer is thinking that these owners may now have a hard time selling their condo units on the open market because there may not be many buyers interested in purchasing a unit in a condominium by that name.  The Champlain Towers will forever be remembered as the building that collapsed and where nearly a hundred innocent people died.  I think the developer is right.  It will be tough to sell your units in the remaining Champlain Towers condominiums.

The truth is……if that’s the case…and it is next to impossible to now sell your condo unit in these buildings, the developer can look like a knight in shining armor, if the price they offer is fair and reasonable.  It may very well make sense for the owners to seriously consider the developer’s offer.  At the remaining Champlain Towers buildings, the developer’s offer is contingent upon 95% of the owners agreeing to sell to the developer.  If less than 95% of the owners agree to sell, the deal is off the table.  That’s because if at least 5% of the owners vote against a plan of “termination” the developer’s plan to “terminate” the condominium, knock it down and build a more expensive one fails.  So, the developer needs to acquire at least 95% to ensure their plan succeeds.

We know that it’s about to get more expensive to live in a condominium because it looks like it will become more difficult to waive reserves and buildings will be undergoing more frequent inspections.  Repairs will be needed more than ever before which means money will be needed like never before.  When unit owners don’t have the money or don’t want to spend the money on a building that’s already old, rest assured that developers will be there ready to make an offer to everyone so that the property can be bought, knocked down, rebuilt and sold.

Over the last few years the law has made it more difficult to terminate a condominium.  As a result of the tragedy at The Champlain Towers I certainly expect the pendulum to swing back the other way.  Terminations will become easier.  Developers will use their eyes and airs searching for the most vulnerable properties, meaning the ones that will require the greatest cost to repair.  The laws regarding termination continue to evolve, but if I am a developer I may want to be cautious about buying units in a condominium that requires 100% of the owners to agree to termination and that does not have Kaufman language or “as amended from time to time” language.  In these types of condominiums, one owner who refuses to sell may wind up screwing up the developer’s grand plans.

 

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You don’t get to take a holiday break from condo rules.

You don’t get to take a holiday break from condo rules.

  • Posted: Dec 05, 2021
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If you’re one of the 62 million Americans living in condo and homeowners associations (HOAs), you don’t get to take a holiday break from condo rules.

Humbug, you say? Well…

“A hallmark of a shared ownership community is that you give up some of your rights for the good of the community. If there are restrictions involving holiday decorations, including lights and signage, you’re generally bound by them

Option 1: Nothing may happen if the HOA rules aren’t enforced.
Option 2: You might get a letter asking you to take down your decor.
Option 3: You might get fined for breaking condo rules.

 

Be safe, Ask your board for rules they may have for decorations on the Grounds….

Constructive ways to balance your need to deck the halls with condo rules that ban decorations:

  • Talk to your neighbors.
  • If it’s your first holiday in your new home, check your association’s rules and regulations to find out what’s really allowed.
  • Condos that ban lights and signage most of the year may be lenient about decorations during the holiday season. “But do understand these rules and regulations are enforceable by boards of corporations that are created contractually,”

Take your holiday case to the board. Call the president and ask if you can speak at the next meeting. Show up with a short written proposal to modify the HOA rules to allow specific kinds of decorations, like lights on balconies or door wreaths.

Check state laws on condo rules. Got no satisfaction from your trip to the condo board? You might be able to appeal to a higher authority. Some states have a large body of home owners association laws that may override HOA rules in certain instances, while other states have few home owners association laws.

 

 

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Corey Parshall is the founder of Parshall Tree Care Experts, a full-service tree company offering reinvented solutions to outperform and challenge the industry

Corey Parshall is the founder of Parshall Tree Care Experts, a full-service tree company offering reinvented solutions to outperform and challenge the industry

  • Posted: Dec 03, 2021
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Corey Parshall is the founder of Parshall Tree Care Experts, a full-service tree company offering reinvented solutions to outperform and challenge the industry.

They deliver services to residential, commercial, municipal, and utility clients in Michigan and Florida! With a desire to break stereotypes and bring the tree service industry into the 21st century, Corey designed a business with unparalleled service.

Entering the market, Corey saw opportunity in the outdated practices that ensnare other companies. He understood the pitfalls in the tree service industry and decided to do his part to change it. He saw under-serviced clients and poor service in general. Using his entrepreneurial spirit, he started his own company to address these problems. Leveraging changes in technology, Parshall Tree Care aims to challenge themselves with creative ways of thinking, always looking to push the industry further.

Corey’s biggest challenges are the unknowns. In the early stages of running his business he experienced a lot of trial and error, discovering this was the most expensive way to learn and grow. Rather than bleeding money, Corey started investing in resources to grow his team instead. He found mentors that could help with problem-solving and educate the team. Before he knew it he had a clear roadmap that prevented him from constantly having to relearn everything.

 

With a mind focused on the positive, Corey believes your goals are within reach. A negative outlook can erode your confidence in taking calculated risks, while a positive outlook brings opportunity. Corey has noticed that when he keeps a positive mindset relationships line up, doors open, and he is generally luckier as an entrepreneur. By overcoming his biggest obstacle of thinking small, he found great success by intentionally setting unobtainable goals just to see what he and his team can achieve. Corey pays attention to fears that creep up when goal-setting. To him, fear is a communicator that action is needed to reach the desired opportunity.

For anyone interested in starting their own business, Corey recommends setting outrageous goals. He recommends anything considered to be a “good goal” should be multiplied by 1000 because you will probably underestimate rather than overestimate. Low expectations lead to boredom and if your business is boring you’re more likely to give up. Once you have a plan set, Corey suggests finding mentors, even if you have to pay for them. Learning from the experience of others saves you time and money in the long run.

Success, to Corey, is building a team that includes his family. In doing so, they find freedom from being tied down by that which is out of their control. He finds financial freedom knowing he and his family enjoy a better quality of life, and he has a legacy to share with generations to come. He loves sharing his success with his team as they experience the same freedom. At the end of the day, Corey’s dream is to see the entire tree service industry revolutionized—that they can leave a generational impact and improve an outdated industry.

Corey is so grateful to his staff for everything they do to help carry out the company’s mission, and to his clients who trust him to provide his service. He knows he can’t make a difference in the tree industry without either piece missing. This company isn’t about Corey Parshall, but the Parshall Tree Care Experts revolution. Parshall Tree TV, a free educational platform, is the latest division of the company.

 

Parshall Tree Care Experts

also have plans to grow their new offices in Ohio and Indiana, then expand toward the eastern US to Florida. But Corey’s ultimate goal is to be known as the industry leader in the tree service community.

Corey Parshall
Founder
Parshall Tree Care Experts
corey@parshalltreecare.com
877-250-2060
http://parshalltreecare.com

 

 

 

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Financial Screening of Purchasers: How Far Is Too Far? by KBRLegal

Financial Screening of Purchasers: How Far Is Too Far? by KBRLegal

  • Posted: Dec 03, 2021
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Financial Screening of Purchasers: How Far Is Too Far?

A few months back a case came before the county court in the 20th Judicial Circuit for Collier County, wherein a prospective buyer challenged the validity of a board-adopted rule which required that all prospective buyers provide two years of tax returns with their application for ownership approval. This requirement was in addition to the background check and credit check that were also required. While this is only a county court case and, therefore, has no precedential value other than to the parties themselves, there are principles addressed of which associations and managers should be aware; even though many learned attorneys would opine that the conclusions of the court are legally flawed under the facts of the case and, if appealed, would likely be overturned. Nevertheless, there are still nuggets of knowledge that can be gleaned from this case.

In this case, Mech v. Crescent Beach Condominium Association, Inc., Case No. 19-SC-3498, decided June 2020, the purchaser, who was the plaintiff, was seeking to buy a unit at Crescent Beach Condominium for $400,000, which was to be paid in cash. The purchaser purportedly had a clean background and a credit score of 800. Nonetheless, the board required that, like all other prospective purchasers at the condominium, this purchaser needed to produce his tax returns in order for the association to approve the transfer. The purchaser refused to provide his tax returns and cited his good credit score and clean background as evidence enough for approval. Eventually, an impasse was reached, and the purchaser canceled the contract. Then he brought the county court lawsuit challenging the requirement. (Generally speaking, typically under current Florida law, the purchaser would not have legal standing to even bring the claim against the association; but it does not appear that this legal infirmity was raised by the association, which allowed the case to proceed.)

The purchaser challenged the rule, arguing that the rule was not within the scope of the association’s authority to adopt, nor did it reflect reasoned decision-making. (It is noteworthy to point out that, after the initiation of the lawsuit, the association amended its declaration of condominium to provide that the association may require tax returns in an application for approval of a sale. However, this is not relevant to the conclusions of the Court in this case since it occurred after the litigation was filed.)

The association argued that the tax returns are necessary because they provide more information than a credit report and could help ensure that the potential purchaser is “a good credit risk.” The Court, however, did not agree, calling the argument “nonsensical.” The Court goes on to identify what this judge considers to be the best indicator of a person’s financial history, and as a result, it is the only information the association is allowed to seek. (We note that this conclusion is also without a stated legal basis.)

In the final judgment, some might argue that the Court goes way beyond what proper judicial consideration and conclusions typically contain and indicates that she could find “NO justification for the invasive requirement that a full, or even partial, return would be required when, in fact, the board already requires a full background check and credit check.” While no legal support for the conclusion was provided, the Court held that the request for tax returns was invasive and unnecessary and that the requirement was “shocking.”

The Court objected to the blanket requirement that applied to every applicant regardless of the results of their background and credit checks. Had the tax returns only been required when an applicant’s credit history showed a history of financial instability or delinquencies, the rule may have been upheld by the Court. How-ever, the Court held that “to take a position that ‘every person’ who applies to be a member at [the association] is patently unreasonable and shall be stricken.” Lastly, also without a legal basis or ability, the Court ordered the association to strike all reference in its condominium documents which require potential purchasers to produce tax returns unless the association can show good cause to request the information.

A brief discussion regarding the adoption of rules and regulations is necessary to highlight lessons that can be learned from this case. Generally, both condominium and homeowners association governing documents will typically provide that the board of the directors has the authority to adopt rules and regulations for the community. While some governing documents may contain restrictions requiring a membership vote to approve new rules, it is common for the governing documents to provide the board with the authority to adopt rules and regulations. (Careful review of the documentary authority for each community is recommended as some may limit the rule-making authority to common areas only and not to the residential property within the community.)  Although the board is generally authorized to adopt rules and regulations, those rules and regulations must not conflict with any provision expressly set out in the governing documents or reasonably inferred from them, and they must be reasonable. (This should be contrasted with covenants recorded in the County’s official records, which may be unreasonable and still be legally enforceable under long-standing Florida case law.)

In Beachwood Villas Condominium v. Poor, et. al., a 1984 Fourth District Court of Appeal (4th DCA) case  in which several owners challenged rules enacted by their association’s board of directors, the Court noted that there could be two sources of use restrictions: (i) those set out in the declaration of condominium and (ii) those adopted by the board. As to the use restrictions set out in the declaration, the court held that such restrictions are “clothed with a very strong presumption of validity,” as initially provided in Hidden Harbor Estates v. Basso (a 1981 4th DCA case).

In examining board-adopted rules, the court first must determine whether the board acted within its scope of authority—in other words, whether the board had the express authority in the documents to adopt the rule in the first place. If the answer is “yes,” the second question to determine is whether the rule conflicts with an express provision of the governing documents or one that is reasonably inferred. (If the documents are silent on an issue, the inference is that it is unrestricted. Adopting a rule to restrict a topic that the declaration is otherwise silent about would conflict with the inferred unrestricted use and therefore be unenforceable.)  If these first two issues are found to exist, the court will then determine if the rule is reasonable. The board’s exercise of its reasonable business judgment in adopting a rule is generally upheld so long as the rule is not “violative of any constitutional restrictions and does not exceed any specific limitations set out in the statutes or condominium documents.”

In examining your own board-adopted rules, ask the following:

  • Did the board have the power to adopt the rule?
  • Is the rule in accord with with the declaration, articles of incorporation, or bylaws?
  • Is the rule reasonable under the circumstances? (While ultimately only a court can make this final determination, the board should use its best judgment, with assistance of its counsel, to reach this decision.)

If the answer to these three questions is “yes,” then the rule should be found to be valid and enforceable by the court upon an owner challenge.

Ultimately, what can be gleaned from Mech v. Crescent Beach Condominium Association Inc. is that even if the association acts reasonably when adopting rules and even when amending the declaration, a lower court judge can reach almost any decision it wishes. Had the provision at issue only required tax returns when the background or credit checks revealed that the prospective purchaser had a history of financial irresponsibility, the provision may have withstood judicial challenge by this particular judge. Additionally, had the provision requiring tax returns been set out in the declaration before the initiation of the lawsuit, the outcome may have been different under existing, well-established case law.

Bottom line, whenever the board is considering new rules, it is recommended that the board consult with the association’s legal counsel before adopting them.

(Reprinted with permission from KBR Legal)

Jeffrey Rembaum’s, Esq. of Kaye, Bender, Rembaum attorneys at law, legal practice consists of representation of condominium, homeowner, commercial and mobile home park associations, as well as exclusive country club communities and the developers who build them. Mr. Rembaum is a Certified Specialist in Condominium and Planned Development Law. He is the creator of ‘Rembaum’s Association Roundup’, an e-magazine devoted to the education of community association board members, managers, developers and anyone involved with Florida’s community associations.  His column appears monthly in the Florida Community Association Journal. Every year since 2012, Mr. Rembaum has been selected to the Florida Super Lawyers list and was also named Legal Elite by Florida Trends Magazine. He can be reached at 561-241-4462.

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Royale Management Services, Inc., call today for a free quote and proposal!

Royale Management Services, Inc., call today for a free quote and proposal!

  • Posted: Dec 02, 2021
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CONDOMINIUM, COOP & HOME OWNERS ASSOCIATION MANAGEMENT

Royale Management Services, Inc. is a full-service, Condo Association Management (CAM) licensed, residential property management company, specializing in management, consulting and accounting for Condominium Associations and Home Owners Associations in South Florida: Broward, Dade & Palm Beach County.

 

We provide the highest quality, most cost effective management services your community and homeowners will find anywhere.

Accounting & Bookkeeping

Financial Management

Property Management

Web Services

Royale Management Services, Inc., exists to meet the needs of association owners, board members, and officers by providing, with the highest quality and integrity, association management, accounting and financial services, while controlling costs and making each community a better place for every owner.

We offer unprecedented access and transparency to the owners, board members and officers of each community we serve. Association records are open and available 24 hours a day, 365 days a year for inspection via our secure web portal. These records include all check, invoices, contracts, receivables, deposits, payments and correspondence.  Our revenue comes from management fees and disclosed charges included in our management agreement. We do not provide or perform services through related companies or divisions that add additional margins and profits to our bottom line. We maintain no preferred contractor lists based on any form of revenue sharing or other fees and associations and their boards are free to use existing contractors or others outside service.

We aim for and reach superior, measurable standards of quality with every service we provide. We serve only local associations (Broward County) where owners, board members, and officers can have access to all our professional staff and where we can be sure that all activities are supervised by our senior staff.

Our clients will regard us not only as a national leader in the world of association management and financial problem solving but also as a trusted friend and ally; as a partner in the pursuit of their community goals and objectives.

The Royale Management Services name will be synonymous with superior service-superior not only in quality and quantity but also in spirit. Mere adequacy of quality and quantity of service is not sufficient to satisfy the commitment we have made to our clients. In fact, it’s the spirit in which we deliver our service that makes us unique. In a large part, it is the spirit which accounts for the Royale Management Services difference.

 

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There is plenty of time to let the community members know what the new monthly assessments will be for the coming year.

There is plenty of time to let the community members know what the new monthly assessments will be for the coming year.

  • Posted: Dec 02, 2021
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Budgets: Boards How are you doing?

Most community associations have their budget meeting in the month of November for the upcoming year.  By doing it in November there is plenty of time to print new coupon books and let the community members know what the new monthly assessments will be for the coming year.

In terms of notice, in a condominium the budget must be sent to the owners at least 14 days before the budget meeting.  In an HOA, The association shall provide each member with a copy of the annual budget or a written notice that a copy of the budget is available upon request at no charge to the member.

Don’t forget that in a condominium, in addition to annual operating expenses, the budget must include reserve accounts for capital expenditures and deferred maintenance. These accounts must include, but are not limited to, roof replacement, building painting, and pavement resurfacing, regardless of the amount of deferred maintenance expense or replacement cost, and any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000.

Condo boards need to be well aware of the reserve requirement.  To be clear, the Board MUST send out a budget that includes fully funded reserves.  That is all they are required to do.  However, if they want to, they can give the owners the opportunity to vote for an alternative budget such as a budget that contains no reserves or partially funded reserves.  Remember that if a majority of a quorum of owners does not vote for a budget that does not contain full reserves, fully funded reserves shall go into effect.

In a post Champlain Towers world, I think things may be a little different this year.  I think lots of Board members will want to have fully funded reserves in their budget.  They don’t want to be short millions of dollars when the time comes, and it will, for millions of dollars in repairs.

Delinquencies are starting to pick up as well.  So, make sure you have a line item in your budget for “bad debt.”   For example, if your assessments are $6,000.00 per year and you’re pretty sure that 5 owners won’t pay  a dime, you should put $30,000.00 as an line item in your budget for bad debt.  That way you collect enough money to pay the bills.

Keep in mind that electricity prices are expected to rise 18%.  Also remember that some of your long term contracts may have clauses requiring automatic rate increases every single year.  F I still get the same question all the time…who passes the budget; the board or the unit owners? The answer is…the board and only the board.  Food prices are going up, the cost of materials are going up, electricity is going up, the cost of labor is going up, and worst of all, insurance rates for condominiums are simply skyrocketing, with some associations complaining that their rates have tripled.  So, all this means in no uncertain terms, that condo assessments are about to go up as well.  It also seems pretty clear that it will become extremely difficult if not impossible to waive reserves starting next year.  Yes, it’s about to get a lot more expensive to live in a condominium, especially if you were kicking the can down the road and always waiving reserves.  I don’t envy condo boards at their next budget meetings where they will be forced to tell the members of their community that their monthly assessments are about to go up, in fact way up.  Buckle up everyone in a condo, you’re in for a bumpy ride going forward.

 

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Water leaks are one of the leading causes of homeowners’ insurance claims, Our AKWA Technologies system does this for you automatically 24/7/365 whether you are at home or not, minimizing the damage caused…

Water leaks are one of the leading causes of homeowners’ insurance claims, Our AKWA Technologies system does this for you automatically 24/7/365 whether you are at home or not, minimizing the damage caused…

  • Posted: Nov 30, 2021
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Water Damage – The most common cause of loss for condo owners

WATER DAMAGE: THE MOST COMMON CAUSE OF LOSS FOR CONDO OWNERS

From burst pipes to appliance leaks, to HVAC malfunctions and more, according to PURE’s claims data, water damage is the number one cause of loss among condo owners. In fact, more than 70% of condo claims reported to PURE have been the result of water damage. Although some instances are out of a condo owner’s control—like a toilet overflow originating from the unit above that allows water to leak through the ceiling to a PURE member’s condo below, or water backup from a building’s rooftop pool—the majority of claims can be prevented by taking proactive steps today to reduce the likelihood of water damage in the future. ​

Research and analysis conducted by our claims and risk management team uncovered some of the most frequent types of water losses experienced by PURE members and steps you can take to protect your condo and the other valuable belongings within it. ​

Appliance Malfunction When the water filtration system installed underneath a member’s sink failed overnight, water flowed throughout the kitchen and surrounding rooms for several hours until the member woke up the next morning. Luckily, the building was able to shut off the water and begin immediate remediation to prevent the damage from becoming even more severe but not before the marble tile flooring, kitchen cabinets, wall panels and drywall were extensively impacted. Damage was even caused to the neighbor’s unit below, resulting in more than $100,000 of damage. Home appliances with pipes or other fixtures that feed into a water line—including refrigerators, dish washers, ice makers, washing machines, toilets, HVAC systems and more—have the potential to malfunction, develop blockages or spring leaks that can lead to significant water damage. However, there are a number of inexpensive devices ranging from $50-$200 that can help detect or even prevent such an event from occurring.

To mitigate your risk, consider taking the following steps:​

  • Install water leak detection sensors on individual appliances prone to water loss. These devices have the ability to detect and notify you of a water leak. In addition to sounding an alarm, Wi-Fi connected devices can notify you even when you’re away from home by sending an alert to your smartphone.

  • Automatic water shut off devices, go a step further by automatically turning off the water supply when a leak is detected to prevent further damage.

  • Install an HVAC safety switch or float switch on the water pan underneath your unit to automatically stop the system from operating when an overflow is detected. While your unit may have been equipped with a safety switch at the time of installation, older units are less likely to be equipped with these devices.

  • Install a drain pan beneath your washing machine to catch leaks due to washing machine overflow or hose failure. The drain pan, which slides underneath your washing machine and provides the first line of defense against leaks, is connected to a drainpipe to move water away from the area. Because drain pans are typically made of plastic or another composite material that may break or crack over time, it’s important to be observant of the drain pan’s condition and replace it periodically to be adequately protected.

  • Opt for braided metal supply lines. Ensure all appliances that are connecting to a water source are equipped with braided metal hoses which are far more resistant to leaks compared to standard rubber hoses. At about $10 each, this simple and inexpensive step can help to prevent a costly claim.

  • Prevent toilet blockages. To avoid a toilet overflow, consider the types of materials and quantity of products flushed. Note: ‘Flushable’ wipes should not be flushed and put into the sewage system.


Water leaks are one of the leading causes of homeowners’ insurance claims.

  • Leaks can occur on every level of your condominium from the penthouse to the ground floor common areas. Oftentimes they begin at your washing machine, water heater, toilets, sewer/sump pump, refrigerator, dishwasher, sinks, showers, HVAC system, and more insidiously when pipes start leaking in the walls. This makes water damage something most homeowners will experience in their lifetime.
  • Single unit water damage is troublesome enough – in a condominium environment, adjacent units and even units several levels below can be adversely affected.
  • Stopping the flow of water immediately is the key to mitigating the extent of the damage.

Our AKWA Technologies system does this for you automatically 24/7/365 whether you are at home or not, minimizing the damage caused and in many cases preventing the disaster that would follow.

 

Protect your assets from water damages caused by water leaks

For High-Rise Condos / Multi-family Homes / Commercial buildings

Offices in Florida and Canada
Valérie Mélignon
Executive Director, Strategic Alliances
941-726-7806
valerie@AKWAtek.com
www.AKWAtek.com

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Real Estate Boom Meets the Crypto Boom Here in Miami – HUGO ALVAREZ

Real Estate Boom Meets the Crypto Boom Here in Miami – HUGO ALVAREZ

  • Posted: Nov 21, 2021
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Real Estate Boom Meets the Crypto Boom Here in Miami

Like our climate, there is no denying that South Florida’s real estate market has been scorching hot.  But while South Florida is well known for its real estate booms and busts, the current cycle is also running right into the latest technological wave – cryptocurrency.

Home prices have climbed to record numbers.  Those prices have been driven by a lack of supply but also by COVID related work and travel restrictions, which make year-round warm weather climates like South Florida very attractive.

At the same time, and while more people are staying at home to work, we have also seen a surge in cryptocurrency demand.  At the time this is posted, Bitcoin is trading at prices greater than $65,000 and analysts are predicting that its price will rise higher by year’s end and beyond.

Miami is currently undergoing a tech boom of its own.  This tech boom coincides with the ongoing and growing demand for cryptocurrency coupled with its unique geographic location.  Miami has hosted, and will continue to host, numerous high profile cryptocurrency events.  And with those high-profile events we will see more demand for our real estate.

All this to say, it is only a matter of time before using cryptocurrency to purchase real estate becomes routine.  We are not there yet but that day is coming.

Opening potential real estate transactions to crypto holders broadens the pool of buyers that sellers can sell to.  But doing so is not without risk.

Crypto is unregulated and prone to fraud.  Crypto transactions may violate certain laws and regulations intending to govern “traditional” transactions.  For instance, the anonymity associated with cryptocurrency may prove challenging when trying to trace the source of the funds which is often a requirement for a “traditional” real estate transaction.  Additionally, given the volatile nature of the crypto price fluctuations it may be difficult to peg the actual sales price of the real estate until the “very last minute.”  And then there are numerous tax implications associated with any crypto transaction that may further complicate a real estate transaction.

While there are numerous challenges in rendering a crypto transaction common place today, with the advent of Web 3.0, and the continued growth of cryptocurrency, it is only a matter of time before real estate transactions are routinely funded in this way.

And Miami, with its booming tech movement and thriving real estate market, will be at the forefront of this coming trend.

Feel free to contact me should you wish to discuss Miami’s ongoing tech movement, crypto, or real estate in general.


Hugo Alvarez

HALVAREZ@beckerlawyers.com

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Sika Day for Condo Restoration Nov 18, 2021 >Presentations on: concrete restoration, strengthening of concrete, and waterproofing.

Sika Day for Condo Restoration Nov 18, 2021 >Presentations on: concrete restoration, strengthening of concrete, and waterproofing.

  • Posted: Nov 16, 2021
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Sika Day for Condo Restoration Nov 18, 2021 >

Presentations on: concrete restoration, strengthening of concrete, and waterproofing.

Please join Sika Corporation for informative presentations on your buildings
Structural Engineering

Learn About: concrete restoration, strengthening of concrete, and waterproofing.

Date and time

Thu, November 18, 2021

9:00 AM – 2:00 PM EST

Location

Shula’s Hotel and Golf Club

6842 Main Street

Miami Lakes, FL 33014

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Sunshine Laws” for Condominium Associations

Sunshine Laws” for Condominium Associations

  • Posted: Nov 16, 2021
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Sunshine Laws” for Condominium Associations

by Becker

Florida’s Sunshine in the Government Act, (“Sunshine Laws”) requires transparency and disclosure in government and business. Although the Sunshine Laws do not apply to condominium associations, the Florida Condominium Act (“Act”) found in Chapter 718, Florida Statutes, contains its own set of “sunshine” requirements for these communities, with transparency being the key to compliance. Issues generally arise in condominiums when there is or appears to be a lack of transparency between the board of directors and the association members.

First, boards need to determine which gatherings must be open to association members. While boards may desire to avoid certain topics in open meetings, the Act requires board meetings to be open to members; in fact members have a statutory right to attend such meetings. A “meeting” of the board occurs when a quorum of the board members is present. There are two statutory exceptions to the requirement that board meetings must be open to the members: 1) meetings with the association’s attorney to discuss proposed or pending litigation, if the meeting is held for the purpose of seeking or rendering legal advice, and 2) when “personnel matters” are under discussion. Personnel matters should be limited to discussions of specific issues pertaining to association employees. So, can individual board members meet or call one another to discuss association business as long as the meeting or phone call comprises less than a quorum of the board? Yes. However, remote meetings of a quorum of the board still constitute meetings that must be open to members. Notwithstanding the foregoing, the Act provides that members of the board of administration may use e-mail as a means of communication but may not cast a vote on an association matter via e-mail.

The second important “sunshine” law is the noticing of meetings. The requirement that meetings be open to members is of little benefit if owners do not know when or where the meetings are taking place. Under the Act, notice of all board meetings must be posted conspicuously on the condominium property for at least 48 hours before the meeting. However, certain meetings, such as meetings where non-emergency special assessments or amendments to rules regarding unit use are considered, require notices to be mailed, delivered, or electronically transmitted to the unit owners AND posted conspicuously on the condominium property not less than 14 days prior to the meeting. The notices also need to clearly identify the agenda items that will be discussed at the meeting.

The Act also provides owners certain rights at board meetings. Owners have a right to speak at all open board meetings on all designated agenda items. The right to speak does not mean that every unit owner is entitled to endlessly debate motions, but it does mean that the owners are entitled to be heard regarding matters the board intends to consider at the meeting. The association may adopt written reasonable rules governing the frequency, duration and manner of unit owner statements. Owners may also record or videotape such meetings.

What about committees? The sunshine laws also apply to committees that are empowered to take final action on behalf of the board, or committees that make recommendations to the board regarding the association budget. Under the Act, all committees are subject to sunshine requirements unless the association bylaws specifically exempt committees from the sunshine laws.
If you have questions about these laws and how to handle meetings in your community, contact your community association attorney.

 

ASK THE ATTORNEYS  with KBR Legal 11/16/2021  6:30 pm – 8:00 pm

ASK THE ATTORNEYS  with KBR Legal 11/16/2021  6:30 pm – 8:00 pm

  • Posted: Nov 15, 2021
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ASK THE ATTORNEYS  with KBR Legal 11/16/2021  6:30 pm – 8:00 pm

WEBINAR Florida

ASK THE ATTORNEYS  11/16/2021  6:30 pm – 8:00 pm  https://us02web.zoom.us/webinar/register/WN_onq_UDCzQ0-Bm-WLk3RVrw A town hall-style presentation. Attendees ask association-related questions, and our panel, featuring Florida Bar Board Certified Specialists in Condominium and Planned Development Law, attorneys Robert L. Kaye and Michael S. Bender, answer them live. The format will be as follows: Attendees will use the “Raise Hand” feature on the Zoom interface. We will enable your mic to ask your question, similar to a radio talk show! Hosted by City of Tamarac with Kaye Bender Rembaum.

RSVP Free HERE

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