Q: Our condominium consists of a number of buildings with two residential floors with covered parking underneath. It is my understanding that the prior statutes allowed associations to partially fund the reserves. Fully funding the reserves through increased quarterly payments or a sizable special assessment will impose an unnecessary hardship […]
Q: Can you explain how a condominium association’s budget is made and presented? What is the difference between operating expenses and reserves? What are straight-line and pooled methods for reserves? (J.D., via e-mail) A: In last week’s column, I answered parts of this question by explaining the differences between operating […]
Omar Franco, head of Becker & Poliakoff’s Federal Lobbying Practice in Washington, D.C., graces the front cover of the Fall 2025 issue of INFLUENCE Magazine. The feature explores the growth of Florida-based lobbying firms beyond their Sunshine State roots. Becker’s lobbying practice is known for strategically leveraging the team’s decades […]
Winter snow is beautiful, but for community associations—both condominiums and homeowners associations—it represents a significant liability challenge. Boards and managers need to understand their snow clearing duties, which are determined by state law, governing documents, and local ordinances. Getting it wrong can expose the association to expensive slip-and-fall lawsuits. This […]
Q: Can you explain how a condominium association’s budget is made and presented? What is the difference between operating expenses and reserves? What are straight-line and pooled methods for reserves? (J.D., via e-mail) A: A condominium budget is a formal, forward-looking financial plan that estimates the association’s revenues and expenditures […]
