In early 2020, our firm was hired to prepare a reserve study for an unremarkable 136-unit, 12-story condominium in south Florida. It was the kind of association you could drive right by without noticing, not much different from all the othe…
In our current environment of steeply rising costs, it’s more important than ever to safeguard your reserves to ensure that your association has sufficient funds available for immediate and future capital projects. Unfortunately, many assoc…
The Community Associations Institute (CAI) estimates that 74 million Americans live in communities managed by homeowners associations, of which condos account for 35% to 40%. That’s a lot of people - many of whom may be in for a nasty shock…
The Community Associations Institute (CAI) estimates that 74 million Americans live in communities managed by homeowners associations, of which condos account for 35% to 40%. That’s a lot of people - many of whom may be in for a nasty shock…
It’s a question we’re asked all the time: “Can we use reserves to cover an operating fund shortfall?” Under normal circumstances, our standard response would be an emphatic “No!”—because reserves are for major repair and replacement project…
It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…
Questions to our firm about how homeowner and condominium associations should respond to the coronavirus (COVID-19) epidemic have come in waves. When news of the virus broke, we were asked by HOAs and condos how to keep homeowners safe. (S…
For many people, appraisals – why they’re done, how they’re done, and how they’re used – are a mystery. But that need not be the case. For all intents and purposes, appraisals are a straightforward and simple component in the process of com…
*Editor's note: In anticipation of Hurricane Irma's possible landfall in Florida later this week, The South Florida Cooperator is featuring a selection of past articles on storm preparation, emergency planning, and post-storm clean-up. Fl…
There has been a recent push by federal, state and local legislators to get reverse mortgages or Home Equity Conversion Mortgages (HECM) approved for residential cooperatives. The federal Department of Housing and Urban Development (HUD) h…