Following last month’s devastating partial collapse of the Champlain Tower South condominium in Surfside, Fla., many community association managers, boards, and residents are eager to understand state laws and regulations ensuring the structural integrity of condominiums.
Homeowners facing financial hardship due to the COVID-19 pandemic can benefit from an extension to the federal foreclosure moratorium and new rules limiting collections of delinquent mortgage payments.
Following the tragic condo collapse in Florda, CAI is providing information and resources to help concerned residents and board members understand structural integrity, maintenance, and reserves.
As the vaccination rollout continues, many community association board members, managers, and professional business partners are wondering what comes next. Will amenities reopen? Will virtual meetings continue? When can we hold in-person events again? Can more employees work on-site now?
The COVID-19 pandemic is leading to higher operating expenses and unanticipated costs for many community associations. Taking note of financial impacts now can help associations better prepare for the future.