The community association lawyers at Siegfried, Rivera, Lerner, De La Torre & Sobel are frequently called upon to provide seminars and presentations to the officers and members of South Florida condominium associations and homeowners associations as well as their property managers. With the recent passage of the major new law that offers some relief for the thousands of condominium associations in the state that are coping with severe financial difficulties as a result of the high number of foreclosures, our attorneys have prepared and begun to present a seminar on the new law. This seminar was recently presented to more than 70 property managers from The Continental Group, which is the largest property management company in Florida.
The seminar was presented on Friday, June 11, at the IGFA Hall of Fame & Museum in Dania Beach by the firm’s Helio De La Torre and Howard Perl. It focused exclusively on the new law and its implications for condominium associations and property managers. The law, which goes into effect on July 1, requires some lenders acquiring condominium units through foreclosure to pay more of the monthly maintenance fees to the association than previously required. It also provides condominium associations with the power to collect rent directly from tenants who are residing in the units of delinquent owners. In addition, the law postpones the deadline for some condominiums to install required fire sprinklers and update the building elevators, and it creates protections from liability that had previously deterred investors against buying more than seven units in a particular condominium.
As this new law goes into effect and condominium associations and property managers begin to adapt their legal strategies to take advantage of the financial relief that the law provides, our lawyers for South Florida condominium associations will be presenting this helpful and informative seminar to other groups of association members, officers and property managers during the next several weeks. We encourage property managers and community associations that would be interested in learning more about the possibility of arranging for the seminar to be presented by one of the firm’s attorneys to contact our Miami office at (305) 442-3334.