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Blog
Sea Level Rise & Its Impact on Waterfront & Coastal Condominiums & HOAS
The topic of sea level rise is being discussed in coastal cities across America. While there are certainly controversies about how fast and how much the sea level will rise, it is indisputable that the sea level is rising and impacting associations and their action plans as it relates to their residents’ property. Individual homeowners in cities like Miami, Florida and Honolulu, Hawaii, are beginning to ask questions like: Will rising water impact my asset? When should I expect the arrival of rising waters? Is there anything I can do to prevent damage to my property and protect it? How can I insure my assets sufficiently in the event of damage or loss as it relates to sea level rise? Condominium and HOA board members in these cities are also asking questions such as: How can we best prepare our community for sea level rise? What are the short and
KW Property Management & Consulting Turns 15
Leading residential property management company celebrates milestone with employees throughout Florida May 2019 – KW Property Management & Consulting, a classic Miami entrepreneurial success story, is celebrating its 15th anniversary throughout the month of May with special events at its offices throughout the State of Florida. Since former Certified Public Accountants Paul Kaplan and Robert White launched the residential property management company in May 2004, KWPMC has evolved into an industry leader and the largest private company in the market with more than 1,500 employees and 80,000 units under management. When Kaplan and White started KWPMC, most of their top competitors had been in the business for decades. Yet, they have grown the company organically – one property and employee at a time – to become one of the largest in the industry. Kaplan and White accomplished this while navigating the 2008 real estate crash and without acquiring or merging
Are You and Your Community Prepared for the Next Storm?
Preparation is the key to good management. Hurricane season beings on June 1st and now runs through November 30th, and as you are well aware, having a Hurricane Preparedness Plan in place makes the process of preparing more efficient. To help you be better prepared we’ve created a checklist of the items you should include: Financial Preparation Fund reserves at least partially; the absence of any cash reserves will hinder an association’s ability to make a deposit to a contractor who is available. Consider a special reserve to fund insurance deductibles and/or items not covered Consider making arrangements for a line of credit with your bank, so that you will have available cash to meet emergencies and secure contractors. Consider applying for an Association credit card to allow managers to purchase preparation or recovery items. Seek a loan from your bank for reconstruction or upgrades to property including storm proof
Debunking 10 Common Myths about Hurricanes
As Florida homeowners gear up for the 2019 hurricane season, a tidal wave of “tips and tricks” are once again hitting the Internet to describe how to best protect your home from a major storm. But how do you know which ones to believe, and which ones should be blown off? After all, you can’t always believe everything you hear and read. Find out below what you believed was protecting your home, but that may actually be putting you at more risk. We’ve collected 10 common hurricane-related myths and the truths behind them to help you (and your home) better prepare for hurricane season. Myth #1: Taping your windows is the best way to prevent them from shattering during a hurricane. Fact: Tape cannot withstand flying debris caused by hurricane-force winds, even though 54% of Americans believe taping their windows protects them from hurricane damage. Do not waste your time
Avoiding Selective Rules Enforcement for Condo Associations
One of the most challenging aspects of effectively running and operating a condominium association is the constant turnover in board membership and the inconsistency this creates concerning rules enforcement. Most association board seats are up for reelection every one to two years. When members decide to run for the board, they often do so because they feel the current board is not properly running the association or enforcing its rules. However, due to the prior board’s failure to act, a newly-elected board attempting to right the ship by enforcing the association’s bylaws and rules and regulations may find itself having to respond to selective enforcement defenses. This creates a unique problem. Board members have a fiduciary duty to enforce the association’s governing documents but cannot do so effectively. There must be a solution. This article discusses how a board can avoid the selective enforcement defense when enforcing community association rules