The note for Paramount condos downtown Orlando was purchased by a Nordic investment fund USO Norge Paramount Note LLC last summer, and Norge are now the proud owners of the 16-story Paramount at Lake Eola. Paramount at Lake Eola condos features residential units with over a dozen different floor plans, of which the majority are unsold. Significant retail space also exists and of course the new Publix is underneath. Paramount is currently leasing the unsold units via ZOM and so with [...]
Downtown Orlando’s 32-story development 55 West Condos on Chuch Street may once again be up for sale. According to the Orlando Business Journal, the Dutch lender went before Orlando City Council yesterday to update the original economic development agreement, changes which are required in order to sell the property, and documents showed that the lender is in negotiations with several unnamed buyers. The main changes to the incentive agreement include removing the [...]
Everything You Wanted to Know about Being a Condominium Board Member… But Were Afraid to Ask! Condominium Board Member Certification. Approved by the Department of Business & Professional Regulation** Why Attend? Comply with State Law** (see below) Understand your legal responsibilities and obligations including your “fiduciary dutyâ€; Gain insights into governing through case studies and real situations; Receive our new publication “You’re a Board Member,[...]
I want to thank everyone that attended the webinar today and especially thank both Scott Peterson and guest Seth Heller for their insight regarding this hot-button issue. We will post a link to the recorded webinar when it is available and address some of the most frequently asked questions here on this site. We emphasized the differences between demanding rent pursuant to the 2010 legislative changes before filing a lawsuit and collecting rent after asking the court to appoint a rent-receiver [...]
Question: Our board enacted a security policy that requires guests to show identification to entry gate guards. Do they have the authority to deny my invited guest onto the property? The board never provided notice that they would be enacting this policy. Answer: Yes, the board has the authority to enact and enforce this policy. Requiring identification is not the same as denying entry. You live in a gated community for a reason...to restrict access to all but invited guests and vendors. This [...]
Live Webinar on Wednesday, December 1, 2010 -- 2:00 PM–3:00 PM Eastern (1:00 PM-2:00 PM Central): Funding Owner Delinquencies: Collecting Rent From Tenants The 2010 Florida Legislature created new procedures for community associations to collect assessments from tenants of owners who are in arrears. You’ll want to join us to hear about these new collection techniques and to learn how to avoid pitfalls in the process. Lisa Magill, Esq. Becker & Poliakoff Ft. [...]
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As a result of SB 1196, the law now prohibits HOA directors, officers, or committee members from receiving any salary or compensation from the association for the performance of his or her duties as a director, officer, or committee member.  This is basically the same rule that applies to condominium association directors. However, Section 720.303(12), Florida Statutes significantly expands the restrictions upon HOA directors, officers and committee members.  In addition [...]
Question: We have a member who likes to tell the board how to do business. She wants one of the directors to read her messages (advice) at the meeting and have them incorporated into the minutes if she is unable to attend the meeting. Is this something we should do? Answer: No. If she has something to say, she should attend the meetings. And even if she did, what she has to say is not appropriate for the meeting minutes. Minutes should reflect board business decisions, not visitor discussions [...]
Every so often, I try to make a point through these newsletters. This is one of those instances. Bear with me.  I’m feeling overtly positive right now. Very ‘glass is half full’. Not necessarily any kind of justified positivity incited by stupendous macro-economic data, just viewing the world through rose-tinted glasses.  Let’s talk hard numbers:                  1) The [...]