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Florida HOA Laws 2024: Updates And Changes

HOA Managememt

These bills affect both homeowners associations and condominium associations. This certification confirms that they have read the association’s governing documents, will uphold them, and will faithfully carry out their duties. They must also complete a state-approved condominium education course.

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HOA Reserve Study Requirements By State

HOA Managememt

HOA Reserve Study Requirements by State A reserve study is an integral tool for any homeowners or condominium association. However, an HOA’s governing documents may require a reserve study. However, an HOA’s governing documents may require a reserve study. Florida These are the Florida HOA reserve study requirements.

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Condo and strata chargebacks

Condo Control

A condominium or strata may charge costs that it sustained because of an owner’s actions or omissions back to them through common expense fees. In Ontario, the Condominium Act explains when condo corporations can charge back costs to the common expenses of an owner. What are chargebacks? As such, some provinces do fine condo owners.

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Reserve study requirements by state

Condo Control

Motivated by the Surfside condo collapse, lawmakers don’t ever want to see another community in the same position as the Miami condominium ended up in. Condominium disclosure statements must include the current balance in reserves, and the most recent reserve study, states Section 81-409.

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AI In HOAs: Is It Good For The Industry?

HOA Managememt

These include managing maintenance schedules, handling financial transactions, enhancing security measures, and facilitating communication with residents. Preventive Maintenance AI can predict maintenance needs before issues become critical, saving time and money. It covers various aspects of association management.

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What’s the Difference Between an HOA vs. COA vs. POA?

Bay Property Management Group

These HOAs are run by a board of directors and usually collect monthly or annual fees as a means to cover the costs of common areas, amenities, and general maintenance of the community. A condominium owner’s association (COA) is another one that is very similar to an HOA. What is a COA? How do we make sense of it?

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1031 Exchange in Multifamily Real Estate

American Apartment Owners Association

A good QI will help you navigate deadlines, documentation, and the specific regulations associated with 1031 exchanges. Property Condition: Make sure the replacement property is in good condition or has manageable renovation needs to avoid high maintenance costs. Final Thoughts: Is a 1031 Exchange Right for You?