Support for your Condominium Owners Association
Whether your condo is coastal, inland, old, or new, the passage of Florida Senate Bill 4-D by the Florida Legislature will have a significant impact on your condominium. These changes in the law feature significant requirements in building inspections and reserve funding that Condominium Owners Associations (COA) are required to abide by within certain deadlines.
As an association, you need to examine the financial impacts of the new laws and how it affects your particular property to determine the best course of action whether that be undergoing a deconversion, receivership, or construction.
The new mandates set up SB 4-D can be complicated for Florida associations to navigate, but with the right partner to guide you, it can be stress-free. Our team has the knowledge and experience to assess and determine the best course of action for your association.
Termination Trustee Representation
Amid the passage of new Florida Condominium Legislation (Florida Senate Bill 4-D), a number of Florida condominium associations have found a termination (or deconversion) to make the most sense for their condominium community. Our team of experts can help your association determine if a deconversion is the right choice based on your property's circumstance.
We also offer other related termination trustee services such as recommending if your documents need to be amended to conform with certain statutes that are more beneficial to condo owners.
Receivership
If your association is in financial distress, allowing our team to step in as a receiver could be the solution you need.
Many association’s find themselves in need of a receiver when they are unable to collect enough funds from owners to cover maintenance, repairs, and other condominium community costs—an issue that has only been exacerbated by the passage of Florida Senate Bill 4-D.
Financial and Construction Consultancy
SB 4-D imposes deadlines for condominiums that are three stories or higher to obtain the following by December 31, 2024 and subsequent ones every ten years after:
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Structural reserve study
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Milestone inspection (Only imposed on condos that have a certificate of occupancy issued on or before July 1, 1992)
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Aid in the procurement of loans for the funding construction projects.
Frequently Asked Questions
Why do I need your help to terminate our condominium?
Our team is well versed in condominium law, along with the legal process required to perform a termination. In addition, we facilitate all owner communication during the process. By handling the termination, we limit the board’s liability.
Will I have to pay for your services upfront?
Most of our fees are charged upon success at the backend of our partnership, not upfront.
How do I know that your evaluation of my condominium is accurate?
Third-party commercial brokers with the proper expertise that actively work in the marketplace will conduct the evaluation. Our team will work with you to select a qualified broker of your choice.
Ready to determine the best course of action for your property?
Schedule your initial assessmenttoday to get started
