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Understanding the New HOA Rules in Florida
Did you know Florida is home to nearly 50,000 HOAs, making it the state with the second-highest number of HOAs in the country, behind California? A recent bill signed by Governor Ron DeSantis, effective this July, aims to offer more leniency to homeowners while providing HOAs with clearer guidelines and restrictions.
Effective July 1, DRE Has Increased Their Filing Fees
The California Department of Real Estate (DRE) is implementing new regulations that impact buyers and sellers. These new regulations will implement higher fees, revised mapping regulations, and new building configurations. Real estate professionals and stakeholders—particularly developers—must familiarize themselves with these updates to navigate the evolving regulatory framework and continue providing high-quality services. We’ve created a blog post with helpful information on the updated filing fees and a full analysis of the changes.
How Your HOA Is Affected By Inflation
Aside from the fact that we’re all paying higher prices at the grocery checkout and the gas station, inflation is also impacting organizations like homeowners’
HOA Budget Impacts: What They Don’t Warn You About
Start-up budgets that meet DRE review criteria result in HOA dues that are much higher than you expect them to be. While buyer’s HOA dues
PARKING, PETS, AND POOLS – the three “P’s” of HOA living
As the old saying goes, if you live in an HOA, be prepared for the trio of “parking, pets and pool” problems. Undoubtedly, there is
Mapping With HOA Dues In Mind
As HOA Start-up Budgets are being created, a question we hear often is “can the dues be reduced?” More often than not, the HOA dues
Workers’ Compensation and Community Associations: Safeguard the Future
Community associations operate with unique insurance needs, given their nonprofit status. One pressing question for Homeowner Association’s (HOA) board members often revolves around the necessity
Owners to Tenants: The Shift in America’s Housing Landscape
Not only are homeowners attracted to build-to-rent communities, but developers and builders who specialize in multi-family, active adult, senior housing, and student housing are beginning to dip their toes into BTR communities to diversify their portfolios.
An Update on the Sustainable Insurance Strategy
On December 13, 2023, Insurance Commissioner Ricardo Lara addressed the Assembly Insurance Committee at Pasadena City Hall. During this address, Lara highlighted California’s position at an ‘insurance crossroads’ and an ‘insurance emergency’ for many residents.
Lessons in Accountability: Raven’s Cove Townhomes v. Knuppe Development Co.
In 1981, a homeowner’s association filed a lawsuit against its developer and his employees, who were former directors in control of the association, for strict liability and breach of warranty. This landmark case is known as Raven’s Cove Townhomes, Inc. v. Knuppe Development Co.
Understanding the Levels of Reserve Studies: A Comprehensive Guide
In 1998, the Community Associations Institute (CAI) introduced Reserve Study Standards to establish the baseline for professional reserve studies. These standards, which have recently been updated, define four distinct levels of reserve studies, ensuring consistency in services across various providers.
Challenges Facing Homebuilders in Meeting Demand for New Homes
In the quest to address the current housing crisis, homebuilders are facing substantial hurdles that hinder their ability to meet the rising demand for new homes. Despite the expectation that new construction would alleviate the shortage and stabilize home prices, builders are grappling with their own set of challenges that are stalling their progress.
Borrowing from Reserves: The Right Way
Budgeting is a critical aspect of managing a homeowner’s association. It helps ensure that the community’s financial needs are met while maintaining financial stability. However, some common budget mistakes can hinder the smooth operation of an HOA. One such mistake is borrowing from reserves. In this blog, we will discuss the potential pitfalls of borrowing from reserves and explore the legal implications of this practice.
California’s Insurance Landscape: The Legacy of the Ruoff Case
In the state of California, it’s no secret that we face a dynamic and challenging insurance landscape. Insurance has become a hot topic, with community associations, condominium developments, and homeowners’ associations facing increasing challenges in securing adequate coverage and the limited number of providers in the state.
The Perfect Recipe for the Start-Up HOA Budget
Are you in the early stages of forming a Homeowners’ Association (HOA) for your new residential development? Crafting the ideal HOA budget is a crucial step toward ensuring the smooth operation and long-term financial health of your community.
