Year: 2016
Important Things to Know When Serving on a Board of Directors
Serving on the Board of Directors of any corporation can be a great opportunity for both personal and financial growth. As with everything in life, however, in order to receive, one must also give. This article will summarize the responsibilities imposed by the law on directors who serve in the state of Florida. The law to which we will be referring is judicial common law and Florida Statutes. Specifically, …
What Successful Associations Do: Master the Reserve Study
What is a reserve study? A reserve study is an assessment of all of the community’s common elements, and includes an inspection and analysis of the remaining useful life of items the association is responsible for maintaining, such as roofs, concrete, mechanicals, fencing, and much more. Most reserve studies will cover 20-30 years’ worth of projects. After this information is assessed, a funding plan is created to estimate the …
Condo Association Budget Tips for Owners – Better Condo Life
Condo Association budget season is in full swing. Condo Association Boards and Management are busy developing their budgets for the new year. Ideally they are eliminating waste, identifying high-value projects, and putting enough into reserves. While Boards are hard at work, this is also a great time forinvolved Owners to review their Association’s budget when it is distributed during the budget comment period. But budgets can be daunting, and Owners …