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Blog
Why Community Associations Need To Consider Cyber Insurance
Condominium Associations, Homeowner Associations and Co-Ops are increasingly at risk of experiencing a Cyber event, leading to costly lawsuits, government fines, and data breach response costs. Associations may not realize the extent of their vulnerability when it comes to cyber crime. Just as with any other small to mid-sized business (SMB), associations can be the target of malware infections and other cyber threats. In fact, SMBs suffer 58% of malware infections, according to a recent report released from Verizon. Furthermore, not only are small businesses being hit by hackers, the attacks are costing them a lot of hard-earned cash. In 2017, average malware-related costs for small and medium-sized businesses included $1,027,053 due to damage or theft of IT assets, and $1,207,965 due to disruption to normal business operations. One of the reasons SMBs are so vulnerable is because they simply don’t have the same resources large corporations do for cyber
KWPMC Named 2018 Best Multi-Family Property Management Firm by the Daily Business Review
One of the real estate industry’s leading residential property management companies, KW Property Management & Consulting, has been featured in the Daily Business Review’s “Best of 2018” issue as the Best Multi-Family Property Management Firm. The company was recognized alongside its sister company, Rivergate KW Residential. This year’s win keeps the property management firm in the “Best of Hall of Fame,” following in last year’s footsteps. The hall of fame recognizes companies that have been ranked in the top two in a category for the past three years. Companies honored on the list were voted in by publication readers through an online survey from August to September. Nearly 70 categories were included, from accounting and financial services to litigation and marketing services. Headquartered in Miami, KWPMC was founded in 2004 by CPAs Paul Kaplan and Robert White, and has since grown its portfolio to include nine regions in including Florida,
Health And Wellness Amenities May Attract Today’s Buyers
KW Property Management’s own Alex Martin was recently quoted in a Miami Herald article about how amenities have evolved to cater to more health conscious clientele. Click the image on the left to download the complete article.
KWPMC Co-Founders Paul Kaplan and Robert White are selected as part of the prestigious “Florida 500” designation by Florida Trend Magazine
Last week, Florida Trend magazine released its first-ever “Florida 500” edition and both founders of KW Property Management & Consulting were selected to be amongst the prestigious individuals chosen. The magazine spotlighted the 500 top business leaders in the state, with chapters for each industry. We are honored and humbled to be in such good company.
How healthy are your condo reserves?
The maintenance-free lifestyle that condo living provides can be a huge benefit for its residents. And while condo owners do not need to worry about maintaining a yard or repairing a leaky roof, they are still responsible for the overall health of their community – financially, structurally and aesthetically. Association maintenance fees collected on a monthly basis are used to pay vendors and ensure a community is properly managed and maintained. Excess funds are set aside in a reserve account to cover emergency expenses, such as unexpected repairs or legal fees, as well as longer-term capital improvement projects like roof replacement, siding and masonry work, and major system upgrades. But determining how much money can and should go into a reserve fund – part of the annual operating budget prepared by a condo board – can be tricky. Since no two properties are alike, there is no magic formula for
