In our previous blog post in this series, we discussed what to do when fines and fees must be enforced within a community association. There is a systematic process including forming a committee, scheduling a hearing, and assessing fines. However, there are even more...
The financial crisis was full of dark days for condo owners here in Miami (and across South Florida). Even those of us that were personally fine, the fact that their neighbors were not took many condo associations to the breaking point. When a condo owner slips into...
Few things bring out the torches and pitchforks for community association Board Members like Special Assessments. Nevertheless, as Robert Frost said, “Nothing gold can stay.” Every community association across South Florida is going to have restorations, repairs or...
In Miami, there’s no getting around the fact that we need strong roofs over our heads. When you’re part of a condo association, roof maintenance, repair, and replacement is often the responsibility of the association at large, and, depending on your governance...
From a personal finance perspective, you know the importance of saving for a rainy day in case your car needs a new transmission or your air conditioning unit suddenly goes out. Because we know these things may happen at some point in the lifetime of the item, we plan...
Condo associations, no matter how big or small, will come up against some major expenses at various points in their operation. The key to being prepared to handle these hurdles with ease is by fully funding your reserve. What is a reserve fund? Reserves are monies set...
