Even without the unpredictable…though somewhat expected…high winds, water, and other destructive elements, there is routine deterioration of physical materials that requires a plan. It takes money to roll back the clock on rust, gravity, and other forces to keep physical items in good shape, plus being prepared for the occasional improvement or effects of a natural disaster. The purpose of a reserve study and funding is to maintain the property and preserve property values in a community. By having a good report and financial plan to deal with major repair and replacement projects, the community can reduce the risk of surprises and special assessments. As association living develops a track record, the importance of reserves is becoming more widely understood. Potential buyers and their mortgage lenders are doing more homework and asking more questions about the financial health of a community before making a purchase or approving a loan. Communities

Leading residential property management company earns national recognition, which is based on percentage revenue growth comparing 2015 to 2018 KW Property Management & Consulting, a classic South Florida entrepreneurial success story celebrating its 15th year as one of the residential property management industry’s premier companies, made a banner year even more special with a prestigious national recognition. KWPMC was featured on Inc. magazine’s annual Inc. 5000 list, a ranking of the nation’s fastest-growing private companies. The company is No. 3,827 on the 2019 list. 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 1,700 employees and 80,000 units under management. The company has experienced particularly impressive growth over the past three years, culminating in the recognition from Inc. magazine. The 2019 Inc.

INSTALLATION OF ELECTRIC VEHICLE CHARGING STATIONS IN CONDOMINIUM PARKING AREAS Florida is blessed to have abundant, beautiful natural resources: beaches, rivers, lakes, wetlands, and forests. The Florida legislature has adopted multiple laws aimed at protecting the state’s environmental resources through conservation and promotion of clean energy. In furtherance of this policy, on March 23, 2018, former Governor Rick Scott approved House Bill 841 amending Chapter 718, Florida Statutes Section 718.113 to add a new subsection (8) providing that a condominium association may not prohibit a unit owner from installing an electronic vehicle charging station in a limited common element parking area assigned to such unit owner. Are Parking Spaces “Limited Common Elements”? This law only requires condominium associations to permit installation of electronic vehicle charging stations in “limited common element” parking areas assigned to individual unit owners. Associations are not required to permit installation of electronic vehicle charging stations in

The start of fall means the start of budget season for condominium and homeowners associations across the country, and careful financial planning for the year ahead is one of a board’s biggest responsibilities during the calendar year. For those that haven’t started crunching numbers for 2020, now’s the time to get started. But where should you begin? Well, doing some research first will help streamline the process, allowing for a more accurate projection. Budgets are more than just an exercise in estimating annual expenses, they are a tool for measuring the financial health of a community’s association. It’s critical for boards to see how monthly assessments and reserves stack up against ongoing expenses. If a board does not have a handle on numbers it can lead to surprise special assessments and potentially make it challenging for existing owners to sell. Minimizing unexpected expenses and controlling operating costs helps to preserve

Considerations For Community Association’s Use Of Drones For Covenant Enforcement And Maintenance Inspections There are benefits to community associations using drones for issues such as covenant enforcement and common area maintenance. The biggest of which is the cost effectiveness and efficiency of using drones instead of individuals to perform these inspections. However, there are significant risks as well. There are a number of considerations that community associations must weigh before using drone technology to carry out association purposes. These considerations include federal and Florida laws, insurance and liability issues, potential governing document amendments, and membership objections and disputes. Federal Laws Concerning Community Association Drone Usage There are federal statutes and agency regulations on the use of drones, including the Small Unmanned Aircraft Rules by the Federal Aviation Administration (“FAA”). A few of these regulations include the following: Drones must weigh less than 55 lbs.; Drones can only be operated during