The firm’s latest Miami Herald “Real Estate Counselor” column was authored by shareholder Laura Manning-Hudson and appears in today’s edition of the newspaper. The article, which is titled “After Surfside Condo Collapse, Group Recommends Key Condo-Safety Measures, Financial Reforms,” focuses on some recent major changes to the Community Associations Institute’s recommended condo-safety policies and reforms. Her article reads:
. . . CAI, which is the leading organization representing the interests of community associations, revealed that it now recommends statutorily mandating reserve studies and funding for all community associations.
For nearly 40 years, the organization’s recommended public policy called for leaving reserves funding and studies up to the individual associations, rather than mandates in state law. That began to change after Surfside when it convened three specialized task forces to explore changes to laws and best practices that could help to prevent a similar disaster.
The task forces recommended that CAI review and update its reserve studies and funding public policies, which were initially established in 1983 and last updated in 2012. The organization has now acted on that suggestion, and the changes go well beyond the call for new state mandates.