Developers Often Use Community Development Districts (CDD) to Fund Community Infrastructure and Amenities.
Solar Energy Program Creates Positive Returns; Governmental Program to Pay for Renewable Energy
Becker
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Customers Able to ‘Sell’ Energy Produced by Solar Panels back to Gainesville Regional Utilities for next Twenty Years.
Q&A: Condo Receivers; Collecting Rent from Tenants
Becker
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Subscribers recently posed interesting questions concerning the information in Condo Receivers Help Collect Assessments such as the following:
Does the Blank receivership work for HOA’s as well?
How would the association/manager/board find out if tenants live in a specific unit and the association docs does not include the …
Condo Receiver Helps Collect Assessments
Becker
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Court Rules in Favor of Use Blanket Receiver to Collect Rental Income When Investment Owners Fail to Satisfy Financial Obligations to Association. The Miami Herald and Sun-Sentinel both reported that the Third District Court of Appeal denied a challenge to an Order appointing a ‘blanket’ receiver to …
Incidental Damages, Who Pays?
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Certainly, if the association is negligent in performing its maintenance and such negligence causes damage to the owner’s unit or personal property, the association is liable for the damage. But, what about situations where the association must cut into unit ceilings, floors or walls to repair common element pipes? The resulting damage is not the result of negligence in these instances. But is it fair for the unit owners to pay for the repairs when they had nothing to do with causing the damage?
Protect the Association’s Funds from Fraud or Theft
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Community Association Boards of Directors Must Safeguard Association Funds.
Recent Arrests and Reported Losses Demonstrate Lack of Financial Oversight.
Community Associations simply cannot function without adequate cash flow. Community leaders have a fiduciary obligation to monitor and protect the Association’s …
Bankruptcy An Option for Financially Distressed Condos and HOAs
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At Least Five Community Associations in Florida have filed for Bankruptcy Protection and Relief.
Reorganization through Bankruptcy Allows Communities to Restructure Obligations and Reduce Debt.
FHA Approval Huge Factor in Marketability of Units
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HUD Implements New Approval Process for Condominium Projects to Qualify for FHA Insured Mortgages.
Website Allows Users to Search for FHA Approved Projects.
On June 12th the Department of Housing and Urban Development (HUD) published Mortgagee Letter 2009-19 announcing the new process for approval of condominium projects. As previously reported on this Blog, Fannie Mae, a federally backed lender, announced several changes to its standards, including the imposition of PERS review.
Hurricane Preparedness & Insurance Claims Recovery Webinar
Becker
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Members of Becker & Poliakoff’s Hurricane Preparedness and Claims Recovery Team presented “Hurricane Season 2009: Are You Ready to Weather the Storm?”
Shareholders Ken Direktor and Herb Brock explained the importance of developing a disaster plan that includes safeguarding documents by making digital backups, advising residents of local shelters …
Condominium Education Providers
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A reader recently posed the following question:
In preparation of next years election of board members, where or how do I find a division approved education provider? How will the new member become aware of the educational curriculum to obtain a certificate of satisfactory completion.
The reader may have …
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