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Elevate Your HOA and Condo Collections with Axela!

Elevate Your HOA and Condo Collections with Axela!

  • Posted: Feb 02, 2024
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Discover why Axela stands out as the ultimate choice for managing your community’s finances and collections.

Axela is here to revolutionize your HOA experience from streamlined processes to advanced features.

 

HOW THE FUTURE COLLECTS

Axela Technologies is dedicated to helping create streamlined accounts receivable and collections tools for management companies, condo and homeowners associations and others in the real estate industry.

Our proven collection tools help community associations realize higher returns and lower delinquency ratings.

Axela is not a debt collector. But, our team understands collections and has expertise in the real estate accounts receivable space. Axela licenses its software to specially-selected third-party collection agencies who emphasize a culture of debtor choice and empowerment and compliance with applicable law, including the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA).

Our focus is on building tools that assist community association capital recovery. Our team of developers is constantly working to build new and improved technologies to ease and speed up the collections process.

Integrates with your Accounting Platform

In order for Condo and HOA collections to be successful, action must be taken quickly, and information must be accurate. Our tools integrate with various accounting software to gather the data required to begin a collections file.

Accurate, Up to the Minute Records

Using Axela’s software, you can effortlessly gather thousands of data points from our integration partners to have a complete picture of what position a delinquent unit and its owner are in.

The tools available in Axela’s toolbox range from calculating the value of a property, to determining if it’s in an equity position, to assistance in locating a unit owner and determining their financial position.

Respectful Treatment of Homeowners

We empower the engagement of your HOA members in a respectful manner to resolve your cash flow issues. When owners are not paying their assessments you need a HOA collection solution NOT a lawyer.

Committed to Condo & HOA Collections Technology and Advancement

An HOA collection agency must use an FDCPA-compliant process, first and foremost. But our exclusive focus on Community Associations and Management Companies makes us go deeper than the basic requirements when designing collections tools.

Our team has years of experience in the industry, from directly managing condos and HOAs, to serving on boards, to working with other industry vendors.

We work constantly to cultivate relationships in the industry so you can benefit from technologies built to suit your specific needs.


 Axela’s platform can easily review your delinquency issues and provide a customized collections plan.

We help recover funds utilizing information acquired from your association, third-party data aggregators, and credit reporting agencies.

We will refer you to highly trained and accredited collectors who work respectfully with your association members to resolve delinquencies as quickly as possible.

Call Us
 305-392-0389

Technical Support
 support@axela-tech.com

Sales & General Inquiries
 admin@axela-tech.com

 

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Deep Dive on Insurance Deductibles – by Cohen Law Group

Deep Dive on Insurance Deductibles – by Cohen Law Group

  • Posted: Feb 02, 2024
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In almost every homeowner’s insurance contract, there is a deductible that the homeowner is
required to pay before insurance proceeds become due and owing. Many times, the amount of the
deductible is dependent on whether the claim is a hurricane loss or a non-hurricane loss. Although
homeowners can obtain lower deductible amounts, usually by paying higher premiums, a vast
number of policies in Florida contain higher deductibles for hurricane losses than non-hurricane losses.
A very basic way of looking at the deductible, if the homeowner has a deductible of $5,000 on a
hurricane claim, the loss must have a value of more than that $5,000 before the insurance company is
required to pay any funds for the loss. If the value of the claim is below $5,000 that is typically referred
to as being below deductible. If the claim is valued at $6,000 then the insurance company will reduce
the payment by the $5,000 deductible, as the homeowner is responsible for paying this for the repairs,
and will make a payment to the homeowner for $1,000.

I often speak with homeowners who will receive a small payment for their damages that was
reduced by the deductible. Many homeowners are under the impression that because the amount paid
was reduced by the amount of the deductible, that the deductible has been paid. This is not the case. In
its simplest form, if the homeowner needs $20,000 for the damages and there is a $5,000 deductible,
then the homeowner will receive $15,000 and will be required to pay out of pocket the $5,000
deductible.

Florida statute 489.147 (2023) addresses prohibited property insurance practices. The statute
states that the “consumer is responsible for payment of any insurance deductible.” Subsection (3) states
that it is a felony of the third degree to pay, waive, or rebate any part of the insurance deductible with
the intent to injure, defraud, or deceive.

It is important for homeowners to understand how their policy works and specifically, what type
of costs the homeowner could be liable for when shopping for insurance. Many times, I believe, it is
better to pay a little extra in premium for a lower deductible than to be subject to much larger hurricane
deductibles.

Brandon Pharis, Esq.

Cohen Law Group

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Attention all aspiring Community Association Managers! Start your journey to success with ProLicense Florida’s pre-license course.

Attention all aspiring Community Association Managers! Start your journey to success with ProLicense Florida’s pre-license course.

  • Posted: Jan 31, 2024
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Attention all aspiring Community Association Managers! Start your journey to success with ProLicense Florida’s pre-license course.

  • Posted: Jan 26, 2024
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Our online education program is designed to give you the knowledge and skills needed to excel in this field.

Don’t miss this opportunity to earn your license and boost your career!

Become a Property Manager

sfpma has partnered with the top educational platform for Licensing and education. We offer CAM Licensing, Real Estate Licensing, Take the opportunity today to change your life! Get Licensed. Enjoy our self-paced online classes – Start your new Career – Become a Property Manager.

Florida Community Association Manager License Courses

To become licensed in Florida, you need to first meet the requirements to enter an approved educational program. Once you’ve completed the program successfully, you apply for a license.

After being electronically fingerprinted, you’ll need to take and pass the licensing exam. You don’t need a license if you are only managing personally owned properties. Some rental properties, however, need a licensing by the Division of Hotels and Restaurants.

If a property owner hires a salaried employee to manage the property no broker’s license is required, but if they are paid by commission or transactional basis they must have a license.

Community Association Managers (CAMs) differ from property managers. CAMs must hold a valid Community Association Manager license. Obtaining this FREC license follows a similar process, but requires a different educational program.


If you need to verify a License in Florida:

Check each applicant’s license status before hiring any person. Use the Florida Department of Business and Professional Regulation’s Licensee Search webpage to determine their licensing.

State of Florida Requires; Property Managers to be Registered with the DPBR

THE FEDERAL CORPORATE TRANSPARENCY ACT REQUIREMENTS AFFECTING ALL COMMUNITY ASSOCIATIONS

THE FEDERAL CORPORATE TRANSPARENCY ACT REQUIREMENTS AFFECTING ALL COMMUNITY ASSOCIATIONS

What Every Board Member and Manager Must Know

In January 2021 the Corporate Transparency Act (CTA) was enacted by Congress. In 2024 its far-reaching requirements are planned to go into effect. The CTA was adopted by Congress to provide additional transparency in entity structures and ownership in an effort to combat tax fraud, money, laundering, and other illicit activities. It is designed to capture more information about the ownership of specific entities operating in or accessing the United States marketplace. A recent Small Business Administration reports over 27 million small businesses that are considered non-employer firms and thus have no employees. Learning of the beneficial ownership of these entities, Congress hopes to crack down on their misuse. The CTA is particularly targeted to these types of small businesses operating as so called “shell companies.”

By the time you are finished reading this article, each reader should be familiar with some new terms, such as, “FinCen,” and “beneficial owner,” to name just a couple. While the practical enforcement procedures of the CTA are currently unknown, the reason why you must be familiar with the registration and continuing reporting requirements of the CTA is because failure to comply with requirements of the CTA can lead to fines from $500–$10,000 per violation and jail time of up to two years.

While there is little doubt that community associations do not pose a threat for terrorist activity, tax evasion, money laundering, and other illegal activity that is the target of the CTA, sadly, community associations are not currently exempt from the initial registration and continual updating requirements of the CTA. While the CTA requirements for compliance are not particularly difficult, they are onerous and will reveal certain personal information about board members and possibly managers, too. Also, at the present time there does not appear to be any type of exemption from the requirements of the CTA for law enforcement personnel and others who may have gone to extra lengths to keep certain personal information private. However, the CTA does require that this information remains confidential and only used for its intended purposes.

The CTA, amongst its other requirements, requires domestic reporting companies such as corporations, limited liability partnerships, and any other entity, created by the filing of a document with the secretary of state, or any similar office under the laws of the state, to comply with its reporting requirements. This includes community associations as they are organized as a business entity (i.e., a not-for-profit corporation). In addition to providing the information regarding the entity (meaning the association), the CTA requires certain information regarding the association’s “beneficial owners.” A “beneficial owner” is defined, in part, as a person who exercises substantial control of the reporting entity.

Therefore, minimally, according to the CTA, the president and vice president are deemed to “exercise substantial control over the entity” thereby seemingly requiring certain personal information to be provided to the federal “Financial Crimes Enforcement Network” or “FinCen” for short. These beneficial owners must report their name, date of birth, address, unique identifier number, such as a Social Security number, possibly a driver’s license number or passport number, and a photocopy of the non-expired document that evidences such information, too. Whether other officers and directors will be required to similarly provide personal information remains to be seen but it is likely.

Those filing the requisite documents to assist an entity with its compliance with the CTA must provide similar information too. Those qualified to file such documents for corporate entities with FinCen are as follows either:

i) the individual who directly files the document that creates the entity (this could be the attorney that files the articles of incorporation with the state to create the community association corporation); or,

ii) the individual who is primarily responsible for directing or controlling the filing of the relevant document by another (this prong could refer to the authorized individual as directed by the board of directors, such as the attorney, accountant, or management company personnel to file the necessary documentation with FinCen to comply with the CTA).

In addition to the initial compliance requirements, which must be accomplished within 2024 for already existing corporations, reports must also be updated within 30 days of a change to the beneficial ownership, or within 30 days after becoming aware of or having reason to know of inaccurate information previously filed. Under a strict reading of these provisions, this means that every time there is a change in board members and officers, a report of the change must be made to FinCen within 30 days of the event. As mentioned above, failure to comply with requirements of the CTA can lead to fines from $500–$10,000 per violation and jail time of up to two years.

There are procedures set out in the CTA for information sharing among the federal governmental agencies when in relation to terrorist activity and money laundering as well as requirements for compliance with FinCen when it seeks additional information in regard to such matters. The Internal Revenue Service, the Customs and Border Protection agency, and FinCen can all issue summons for purposes of civil enforcement of the CTA. There are even rewards for persons who report on another that lead to recovery of a criminal fine, civil penalty, or forfeiture that exceeds $50,000 where the payment of the reward is limited to 25 percent of the net amount of the fine or $150,000, whichever is less.

Federal community association lobbyists are seeking an amendment to the CTA so that community associations are expressly made exempt and not caught in its web. But, unless that happens, compliance with the CTA is required for Florida’s community associations. Whether such compliance will be performed by the community association‘s attorney, accountant, or manager remains to be seen, and hopefully additional guidance will be provided by the appropriate federal government agencies in the near future. Should you have the opportunity, please reach out to your federal legislators in regard to the need for an exception for community association compliance with the requirements of the CTA.

For those that would like to read up on the CTA, the starting point for the Act itself can be found at 31 U.S.C 5336. This is the CTA-enabling legislation passed by the United States Congress and signed into law by the President that provides lawful authority to executive departments and agencies of the federal government to both adopt and enact, after public notice and hearings, their own laws that have the same force and effect, as if our Congress enacted them. (As an aside in case you ever wondered how our country ended up with so many laws, it is because of this particular process.) Once 31 U.S.C 5336 was enacted into law, the requisite executive departments and agencies of the federal government went to work adopting all sorts of laws to carry out the intent of the enabling legislation. These laws are published in the Code of Federal Regulations (CFR).   The CTA is set out in section 1010 FCR 380 and is actually called “Reports of Beneficial Ownership Information;” however, its nickname is the “Corporate Transparency Act,” which has a better ring to it. The CTA can be cited to more fully as Part 1010 of the Code of Federal Regulations (CFR) Subpart C, section 380. It is a sub-part of CFR Title 31 titled “Money and Finance,” Subtitle B “Regulations Relating to Finance and Money,” Chapter X “Financial Crimes Enforcement Network Department of the Treasury.”

Due to the far reaching aspects of the CTA and its many nuances that could lead to many traps for the unwary, consultation with the association’s attorney and certified public accounting firm should be considered regarding any questions you may have in regard to the CTA, along with its registration and compliance requirements, too.

Read other great articles on:

REMBAUM’S ASSOCIATION ROUNDUP | The Community Association Legal News You Can Use

 

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Now is the perfect time to start planning for the upcoming construction season!

Now is the perfect time to start planning for the upcoming construction season!

  • Posted: Jan 26, 2024
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Now is the perfect time to start planning for the upcoming construction season!

At Falcon, we understand the challenges communities face when it comes to site improvements. That’s why we offer comprehensive engineering services to help you tackle these projects effectively.
Contact us today for a free consultation and proposal and let us help you transform your community into a better place to live.

Are you tired of the deteriorating condition of the roadways in your community?

Is drainage becoming a major concern during heavy rains?

Are the retaining walls in your neighborhood showing signs of wear and tear?

If so, it’s time to take action! 


Planning and executing site improvement projects can be a complex process. From roadway resurfacing to tennis court replacement, these projects require careful planning and development.

Now is the perfect time to start planning for the upcoming construction season.

At Falcon, we understand the challenges communities face when it comes to site improvements. That’s why we offer comprehensive engineering services to help you tackle these projects effectively.

Our team can assist you with feasibility studies, design plans, construction documents, bidding, and even construction management services.

Don’t wait until it’s too late. Take advantage of the construction off-season to plan your site improvement project.

Contact us today for a free consultation and proposal and let us help you transform your community into a better place to live.

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10 Management Professional things agents should know and do | SFPMA

10 Management Professional things agents should know and do | SFPMA

10 Management Professional things agents should know and do.

 

  1. Immediate Response: As a real estate agent you need to make your response time, when your prospective buyer calls or emails, as quick as possible. If the buyer doesn’t find you available then he may call somebody else. Buyers want instant response and will not wait for you to call them back or respond to mails only when you are in office.

2. A person he can trust: An agent needs to tell the buyer the truth even if it means losing the sales. While you speak volumes about the virtues of a home, you need to point out the possible defects as well so that the buyer can think twice and not be blinded by only the positive features. The buyer should feel that you are on his side and fluff and untruth will make him lose his confidence in you.

  1. Keep learning on the job: A person is smart when he hires people smarter than he is (Henry Ford). A buyer wants to use your education and experience in order to feel that he has employed the right person to do the job. You should come across as an expert in the field. The best and only way it is done is through constant learning. This can be through trainings and also reading relevant stuff. You should have a ready knowledge about the property that you are highlighting.
  2. Good communication skills: You need to be extremely good at handling your communications. There are all kinds of buyers and while some prefer an e-mail others may like you to call them. The best course is to ask them their preferred mode of communication. Always remember to promise less and deliver more.

 

 

  1. Professional and friendly: Being friendly and at the same time maintaining professionalism is the best way, although a bit difficult. Friendliness is preferred by most buyers as you give out the vibe that you are on their side. At the same time they also want you to be assertive and professional. They want you to handle anything that may come up while they are probably viewing the house or saying €no’ to a particular seller.
  2. Information about the neighborhood: When you are trying to sell a property in a particular neighborhood you should have good knowledge about it in terms of amenities and facilities. Your buyer may be interested in knowing about train stations or bus stops that are close by. The interest could even be a park for children. Make a search and find out all you can about areas where most of the properties that you deal in are located.

  3. Price guide: You need to be the professional who has inside information about the price. The client may be interested in your opinion so prepare yourself well. You need to be careful that you do not quote a price that is too low or too high. You need to be ready with market trends and facts for the particular area and similar properties. Guide them to make an informed decision.

  4. A good inventory: When a buyer visits you he wants to know about as many properties as he can. He expects a wide inventory and you need to be ready with one. Since you cannot predict the kind of home each buyer requires as buyers buy for their own reasons, you need to have all kinds of properties ready. The choice of properties should take care of a wide arena of needs and requirements.

  5. Dedicated time: When a buyer comes to you he expects you to devote all your time to him until he leaves or makes a decision. Remember you may be selling 10 houses in a week but for him it is one single home that he may be buying in a lifetime. You need to show your enthusiasm and zeal and help him to decide on the perfect home. Try and focus on him and the transaction he is going to make and leave all work aside for the time being.

  6. Time saving transactions: The modern real estate buyer is hard pressed for time. He wants the transaction to be fast and take up as little time as possible. And he would like you to handle things in such a way that the total time is cut down and he can proceed with other things. So do your homework and be prepared to save time, both his and yours.

 

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The Falcon Group – An industry-leader providing professional, cost effective and innovative architectural and engineering designs, solutions and services through the use of highly qualified staff and outstanding customer service.

The Falcon Group – An industry-leader providing professional, cost effective and innovative architectural and engineering designs, solutions and services through the use of highly qualified staff and outstanding customer service.

The Falcon Group is an industry-leader providing professional, cost effective and innovative architectural and engineering designs, solutions and services through the use of highly qualified staff and outstanding customer service.

Our structural engineers will design, plan and execute your project, tailored to suit each individual’s specific needs and budgets. Our engineers will inspect all materials used to ensure the strength and stability of your structure from low-, mid-, to high-rise structures and facilities. Falcon’s engineers pride themselves on ensuring the services and recommendations provided to each of our clients are held at the desired level of individualized care and attention.

  • High Rise & Mid Rise Façade Inspections & Repair/Restoration/Replacement

  • Stucco & Exterior Insulation Finish Systems (EIFS) Evaluations & Repair

  • Mid Rise & Low Rise Siding Inspections & Repair Replacement

  • Roof Inspections & Repair/Replacement

  • Water Infiltration Investigation & Remediation

  • Window & Door Replacement Design

  • Balcony & Deck Repair/Restoration/Replacement

  • Foundation Inspections & Waterproofing

  • Firewall / Fire Separation Assembly Inspections & Remediation

 


View our new brochure, learn how we can help you with the services we provide. 

Falcon-Florida Brochure

MIAMI
15405 NW 7th Avenue in Miami, FL 33169
Phone: 305-663-1970
marketing@thefalcongroup.us
WEST PALM BEACH, FLORIDA
5651 Corporate Way, Suite 4, West Palm Beach, Florida 33407
Phone: 561-290-0504
marketing@thefalcongroup.us
TAMPA BAY
1211 1st Avenue, N., Suite #106, St. Petersburg, FL 33705
Phone: 813-438-3568
marketing@thefalcongroup.us
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YEAR-END TAX SAVINGS OPPORTUNITIES by Steven J Weil, PhD, EA, LCAM

YEAR-END TAX SAVINGS OPPORTUNITIES by Steven J Weil, PhD, EA, LCAM

YEAR-END TAX SAVINGS OPPORTUNITIES

RMS AccountingTax planning is one of the best ways we know to reduce your tax bill, and at RMS Accounting we take a proactive approach to helping clients pay the lowest amount of tax allowed by law.

We do this through a two-step process. Step 1 requires us to keep up to date with the latest changes to the tax laws, and tax savings strategies. Step 2 is all about you our clients, it requires us to keep you updated on just what steps you can take to ensure that you can take advantage of ever tax saving strategy that will help you.

Since everyone’s situation is different the only way, we can assist you is to be available when you have questions and prior to year-end to review your situation with you, so that you can take the steps required to maximize your tax savings.

That is why every tax preparation engagement includes year-round access to our tax professionals and year-end tax planning, free when we have prepared your tax return for the prior year.

Below are links to this year’s tax planning letter which is mailed to all our clients along with links to planning worksheets for individuals and business.  You can use these documents to help you get the most out of your tax planning consultation.

 

 

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4 “Tricks” to a Healthier Lake! by Allstate Resource Management

4 “Tricks” to a Healthier Lake! by Allstate Resource Management

  • Posted: Jan 23, 2024
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4 “Tricks” to a Healthier Lake!

 

Regularly test the water quality.

The first step in keeping your lake healthy is regularly testing the water quality. Ensure that your lake management company is testing the water before treatments.

Use algae control.

Algae is a common problem in Florida lakes, but there are methods you can use to control it. Partnering with a professional lake company is key! A lake maintenance company can put together a comprehensive plan designed specifically for your lake. Each lake is different and each HOA property might have specific goals and aesthetics they want to achieve.

Use aeration to promote healthy oxygen levels.

Aeration is essential for maintaining healthy oxygen levels in your lake. The water can become stagnant without adequate aeration, leading to low oxygen levels and an unhealthy lake ecosystem. Use a lake aerator to keep the water moving and to promote healthy oxygen levels.

Control invasive plant species.

Invasive plant species, such as cattails or water hyacinths, can quickly take over your lake and create an unhealthy environment for aquatic life. Let our lake specialists work with your HOA to help control and eradicate invasive plants/

Contact us today:

info@allstatemanagement.com or 954-382-9766

 

 

 

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