CAICF | 3rd Quarter 2016 Newsletter

central florida times 6th Annual

CENTRAL FLORIDA CAI

GOLF

TOURNAMENT

SEE PAGES 10-11

WWW.CAICF.ORG | THIRD QUARTER 2016

Third Quarter 2016

contact information P.O. Box 941125 Maitland, FL 32794 www.caicf.org exdir@caicf.org 407-850-0106

board of directors Suzan Kearns, CMCA, AMS, PCAM, President Gina Holbrook, CMCA, President-Elect Paul Melville, Vice President Bill Jackson, CPA, Treasurer Brian Peck, Secretary Lou Biron

a message from the president It’s hard to believe that summer is almost over and we are headed into fall and the holidays! Thank you all for coming out to our spectacular summer events and thank you to the committees that helped to plan the events.

Since we hosted the National Conference this year, we had the honor of hosting a PCAM (Professional Community Association Manager) case study here in town. It was held at Avalon Park Homeowners Association. The PCAM designation is the highest national designation through CAI that a manager can earn. At our September meeting, Phil Masi of Assured Partners and co-chair of the Education Committee welcomed our new PCAMs: Tamela Machino of Associa, Jill Rygh and Kent Taylor of Leland Management, Wendy Thrower of Sentry Management, and Oraine Williams of Ageis.

CONGRATULATIONS to all of you and to your management companies for supporting your educational endeavor. We now have 19 PCAMs that are affiliated with our chapter!

Thank you to Cathy Bowers of True Property Group and David George of BrightView for co-chairing “Meet the Managers.” It was a sold-out event again. As always, it was a great networking event for our business partners to introduce themselves and their companies to the senior managers of our most active management companies and largest self-managed communities. Our Summer Social was back at Harry Buffalo this past August. There were 140 managers and business partners in attendance with good food, great music, and a fun time! Thank you to our three sponsors of the Summer Social: Becker & Poliakoff, OmegaScapes, and Your Private Adjustor.

We have a busy fall planned, so check the Calendar of Events on page 4 of this issue of the newsletter and mark your calendars. Don’t forget to sign up as a Sponsor and/or with a Foursome for our Golf Tournament at the Celebration Golf Club on Friday, October 21st. A portion of the monies raised will go to the Sunshine Foundation Dream Village who makes dreams come true for families with chronically ill, physically challenged or abused children (ages 3 to 18). It’s a great charity that has truly appreciated our partnership over the last 7 years.

Kent Taylor Chris Martinez Diane Rullo, PhD Matt Vice Erik Whynot, Esq.

The Annual Meeting should be fun with a theme of “A Night in Monte Carlo.” This event is a chapter fundraiser to raise scholarship money for our 50% reimbursement program for CAI classes sponsored by our chapter. It will be a fun night of networking, games of chance, and the announcement of the new slate of Directors for the Central Florida Chapter of CAI for 2017. Thank you to all of our members who participate in our events, to our Committees that plan the events, and to Reini Marsh, our Executive Director, who coordinates it all to make these great events happen.

Suzan Kearns Suzan Kearns, CMCA, PCAM President, CAI Central Florida Chapter

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central florida chapter update 2016 calendar of events More details regarding upcoming events will be posted to caicf.org under Events. Check back regularly for the most up-to-date information!

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October 6th: Breakfast at 8:30am - “Legal Panel” at the DoubleTree by SeaWorld

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November 3rd: Luncheon at 11:30am - “Aging in Place 55+” Panel at Dubsdread Country Club

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October 14th: Joint Chapter Lunch & Learn at 11:30am at the Hilton Garden Inn in Palm Coast with the Northeast FL Chapter - more information on page 19

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November 19th: Sunshine Dream Village Volunteer Work Day - Hanging the Lights

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December 1st: Annual Meeting & Monte Carlo Gala from 6pm-10pm at Maison & Jardin in Altamonte Springs

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October 21st: 6th Annual Golf Tournament at Celebration Golf Club - 8:30am Shotgun Start more information on page 10

event rsvp reminder Please be sure to register for all events in advance, as we need an accurate head count for space and food purposes prior to the event. Thank you for your help!

interested in getting more involved? join a caicf committee!

If you are interested in getting more involved in the chapter, joining a committee is a great thing to consider. Below are the different committees that we currently have active. Please feel free to contact any of the following committee chairs: CA Day/Tradeshow Committee Amanda Whitney Leland Management awhitney@lelandmanagement.com

Gala Committee Gina Holbrook Premier Association Management gina.holbrook@premiermgmtcfl.com

Meet the Managers Committee Cathy Bowers True Property Group cbowers@truepropertygroup.com

Chuck Strode Associa cstrode@community-mgmt.com

Golf Committee Scott Pollock Sentry Management spollock@sentrymgt.com

Membership Committee Debbie Young Premier Association Management debbie.young@premiermgmtcfl.com

Communications Committee Benjamin Isip Towers Property Management, Inc. ben@towerspropertymgmt.com

Education Committee Gary van der Laan Leland Management gvanderlaan@lelandmanagement.com Phil Masi Assured Partners pmasi@assuredptr.com

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Rick Shreve True Property Group rshreve@truepropertygroup.com

Legislative Committee Lou Biron Sihle Insurance Group lbiron@sihle.com

Social Committee Tara Munoz Your Private Adjustor tara@yourprivateadjuster.com Sunshine Foundation Committee Jennifer Agravat Asphalt Restoration Technology Systems jennifer.agravat@asphaltnews.com

Committed to our communities For 30 years, BB&T Association Services has provided solutions specifically designed to meet the needs of property management companies and community associations. You can count on us to be your trusted partner. BBT.com/AssociationServices

Association Services Marianne Brown, CAM VP, Relationship Manager 727-270-5004 • Marianne.Brown@BBandT.com Ronald E. Peck, CAM SVP, National Sales Director 772-486-3955 • RPeck@BBandT.com

Branch Banking and Trust Company is a Member FDIC and an Equal Housing Lender.

Loans are subject to credit approval. Only deposit products are FDIC insured. © 2016, Branch Banking and Trust Company. All rights reserved.

reverse conversion SUBMITTED BY SCOTT GROSS, ESQ., PARTNER, ANGIUS & TERRY LLP

STATUTORY CHANGE BEING MISUSED BY DEVELOPERS TO HARM HOMEOWNERS Recently, shrewd developers have started taking advantage of a seldom utilized part of the Florida Condominium Act—forcing homeowners to sell their property for a fraction of what they paid.

Navigating the Florida real estate market has been a daunting task for homeowners since the early-to-mid 2000s. Home values soared to stratospheric heights, and then burnt out in spectacular fashion.

Florida condominium owners, especially, have seen their property values fluctuate in a manner usually reserved for amusement park rides—peaking at a median sales price of more than $211,000 in 2006 and bottoming out at just over $88,000 in 2011.

In an attempt to capitalize on the rapidly inflating housing market, condominium conversions became a hot commodity in the months and years leading up to the 2008 financial crisis. Investors and developers would routinely purchase entire apartment projects and convert them into condominium projects—reaping massive profits as they sold off individual units. According to the Florida Department of Business and Professional Regulation, there have been nearly 3,400 condominium conversions in Florida. As the bubble began to burst, however, developers found themselves with a glut of inventory and buyers who were no longer interested in the condominium product the developers were selling.

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In 2004 and 2005, Florida was hit by several major storms, which caused widespread damage to many condominium communities.

In many cases, the extent of the damage was so substantial that the unit owners could not afford the special assessments required to make necessary repairs or even agree on which repairs were necessary. Investors willing to purchase the entire condominium project and perform repairs were not willing to do so if the property remained a condominium subject to the restrictions in Florida Statute Chapter 718.

In response to these issues, Florida Statute §718.117 received a major overhaul in 2007. Significantly, procedures were enacted so that a condominium association could be quickly and easily terminated by a vote of 80 percent of the members, so long as there were no more than 10 percent of members objecting to the termination. The stated legislative intent behind the change was to prevent “economic waste, areas of disrepair, or obsolescence of a condominium property for its intended use.” Voter apathy, an unavoidable part of contemporary democratic processes, also likely played a part in the rule change.

Continued on page 8

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reverse conversion continued housing market, purchasing property at foreclosure sales and via short sales became an easy method for developers to acquire condominium units in bulk at bargain basement prices. As the law is currently written, once the unit owners (i.e., developer) have voted to terminate the condominium, the developer is only required to pay fair market value for the units that were individually owned. Given the massive drop in property values, these homeowners are being forced to sell their homes at a loss without any real recourse. This “reverse conversion” utilizes a statute that was, ironically, intended to help consumers but has instead created a nightmare scenario for some homeowners.

The pre-2007 version of Florida Statute §718.117 called for unanimous consent of all of the unit owners in order to terminate the association—one adverse vote could stall efforts to sell the project to a developer willing to invest in making the repairs.

The Florida legislature recognized that unanimous consent was nearly impossible, but they wanted the will of the people to control the ultimate outcome of the termination proceedings. By instituting the 80 percent approval/10 percent objection rule, the legislature attempted to ensure that if there were a substantial number of owners objecting to the plan of termination, the plan would ultimately fail. Once the 80 percent vote was reached, a buyer could force the remaining homeowners to sell their units to the buyer at fair market value. Generally, it was thought that the amendment would help to alleviate some of the inherent red tape that slowed the dissolution of associations after a property was destroyed, thus making it a more attractive property for investors; however, it’s clear that the change has had other unintended consequences.

Members from both the Florida House of Representatives and the Florida Senate have recognized the issue and have attempted to pass legislation aimed at correcting the perceived injustice.

Representative Carl Zimmerman, a Democrat from Palm Harbor, sponsored House Bill 1061 and Senator Jack Latvala, a Republican from Northern Pinellas County, sponsored Senate Bill 1546. Both bills took up the termination issue. Unfortunately, both bills died in committee. It appears as though our representatives in Tallahassee recognize that there is an issue with §718.117 in its current form, but they are reluctant to involve themselves in mitigating the homeowners’ plight. A number of homeowners have filed lawsuits challenging the statute and the reverse conversion practice. For now, however, homeowners are stuck in limbo while the battle plays out in the court system.

Scott Gross is a partner in the Florida office of Angius & Terry LLP. He focuses his practice on representing homeowners and homeowner associations in construction defect litigation.

Developers have since realized that they could take advantage of the statutory amendment for a wholly different purpose. By buying up, or failing to sell in the first place, 80 percent of the units in a condominium project and then voting to terminate the condominium, developers can force the remaining homeowners to sell their units to the developer. With the decline in the

Gross graduated from the University of Florida with a Bachelor of Arts Degree in Political Science and received his Juris Doctorate from the Shepard Broad Law Center at Nova Southeastern University. For more information, call 727-4740200 or visit www.angius-terry.com.

LOOKING FOR A SERVICE PROVIDER? CAI Central Florida has a list of great service providers in most every industry a Community Association could need! The best part is, they are members! Check it out at: caicf.org/directory!

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6th Annual

CENTRAL FLORIDA CAI

GOLF

TOURNAMENT FRIDAY, OCTOBER 21, 2016

Celebration Golf Club 701 Golf Park Drive, Celebration, FL 34747

8:30am Shotgun Start

Registration Starts at 7am Four Person Scramble

A PORTION OF PROCEEDS BENEFIT:

A BIG "THANK YOU" TO THIS YEAR'S GOLD SPONSOR:

DREAM VILLAGE

WIN A CAR!

HOLE IN ONE CONTEST

WIN $5,000 CASH! PUTTING CONTEST

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MATT VICE, OWNER www.vicepainting.com

CE N TRAL F L O R I D A T I M ES | 3 R D Q UARTER 2 0 1 6

LOADS OF RAFFLE PRIZES!

GOLD SPONSOR $4000 (SOLD)

SPONSORSHIP LEVELS CENTRAL FLORIDA CAI

Two Foursomes included plus 8 commemorative golf polo shirts with company logo and tournament logo. Company logo on all materials, plus time to address the attendees at the awards luncheon.

SILVER LUNCH SPONSOR $2800 (SOLD)

Foursome included. Company logo on all materials and time to address attendees at the awards luncheon.

BREAKFAST BAG SPONSOR $1500 (1)

GOLF TOURNAMENT

HOLE IN ONE SPONSOR: $1200 (SOLD)

Contest for free car! Company name on sign at hole during play. Acknowledgement at luncheon.

PUTTING CONTEST SPONSOR: $400 (SOLD)

Contest for $5000 cash! Company name on sign at hole during play.

LONGEST DRIVE SPONSOR: $400 (4)

Bags on carts with logo, plug at the beginning of the tournament, plus swag in the bags.

Company name on sign at hole during play.

CLOSEST TO PIN SPONSOR: $400 (1)

Company name on sign at hole during play.

RANGE SPONSOR: $300 (1)

Company name on sign at the range.

ALL SPONSORS WILL RECEIVE: ✓ Acknowledgement on Sponsors signage at event. ✓ Opportunity to raffle off prizes. ✓ Opportunity to supply promotional materials for goodie bags. *Course does not permit outside food or beverage. If you would like to contact the course (407-566-4653), they will allow their team to serve alcohol at your tee for a small corkage fee. If you need a tent, table or chairs, please contact the course directly.

TEE SPONSORS: $300 (18)

Company name on sign at hole during play. 2 reps per hole sponsor. Bring a raffle item. (Additional reps are $30 per person.)

BEVERAGE CART SPONSORS: $225 (2 of 4 LEFT) Company name on cart.

GOLF TOURNAMENT REGISTRATION

REGISTER ONLINE: WWW.CAICF.ORG

Name: _________________________ Company: _______________________ Address: ________________________ City, State, Zip: ____________________ Phone: __________________________ Email: __________________________

□ Check Enclosed □ Charge to Credit Card Below: □ Visa □ Master Card □ American Express Name on Card: _______________________ Account #: __________________________ Exp Date: ____/____ CVV #: __________ Signature: __________________________

Participant: □ $125 (Individual Player) □ $450 (Foursome) Team Name: _______________________ Player #1: _________________________ Player #2: _________________________ Player #3: _________________________ Player #4: _________________________

Level of Sponsorships:

Total Enclosed: $ ___________________

Make checks payable to: CAI Central Florida Chapter P.O. Box 941125 Maitland, FL 32794

Note: Please contact us to verify availability of sponsorships. Sponsorship is not guaranteed until form and payment are received.

□ $4000 (Gold) SOLD □ $2800 (Silver) SOLD □ $1500 (Breakfast Bag) □ $1200 (Hole in One) SOLD □ $400 (Putting Contest) SOLD □ $400 (Longest Drive) □ $400 (Closest to Pin) □ $300 (Range) □ $300 (Tee) □ $225 (Beverage Cart)

factions, ethics, bullies, and workplace violence SUBMITTED BY BETSY BARBIEUX, CAM, CFCAM, FLORIDA CAM SCHOOLS

T

his condominium board of directors is always split 3 to 2 on all issues. They have letters going out to all owners from one faction or the other criticizing the other “side” for its action or inaction. It seems there is one “rules possessed” man who wants to go back in time and correct everything the board has ever done that he thinks was wrong.

A manager is also the rental agent for a condominium association that is made up mostly of investment rentals. He seems to have been given the authority to approve or disapprove all private owners’ rental agreements. He appears to be arbitrary about the approval and makes private owners “guess” as to the proper form of the rental agreement provisions he will approve.

A board member charges into the manager’s office, towers over her desk not giving her a chance to stand up, jabs his finger in her face, and yells obscenities at her. He is red faced and getting angrier by the second. Does she dare reach for the telephone to call 911?

A president decided she wanted to change the name of the community so she created another corporation on SunBiz.org.

Next she obtained a new Federal tax identification number, opened a bank account, and moved the funds of the homeowners’ association to the new bank account. She announced her actions to the other board members and owners.

With this collection of factions, ethics, bullies, and a hostile work environment stories, it’s just another day!

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FACTIONS Faction is described as a group of persons forming a cohesive, usually contentious minority within a larger group. It would probably be safe to say every community association has at least one faction. Factions challenge elections; factions recall board members; factions disrupt meetings; factions spread gossip and ill will; factions use the Internet. When will people learn it is more advantageous to be part of the solution than part of the problem?

ETHICS One association actually has an Ethics section in its employee handbook. It states in part “the highest standards of ethical business conduct and compliance are required of all our employees in performance of their jobs and responsibilities. Employees must not engage in conduct or activity that may raise questions as to the honesty, impartiality, or reputation or otherwise cause embarrassment to the Association. “ The manual gives examples of crossing the ethical line. If you say these things to yourself: “Well, maybe just this once...”

“No one will ever know...”

“It doesn’t matter how it gets done as long as it gets done.”

“It sounds too good to be true.”

“Everyone does it.”

“Shred that document.”

“We can hide it.”

“No one will get hurt.”

Continued on page 14

factions, ethics, bullies, and workplace violence cont.

This manual even has a quiz for employees. It says: “When in Doubt, Ask Yourself...

• • • • • • • • •

Are my actions legal?

Am I being fair and honest?

Will my action stand the test of time?

How will I feel about myself afterwards?

How will it look in the newspaper?

Are my dealings transparent?

Does this action have the appearance of impropriety?

What would I tell my child to do?

How would I feel if my family and friends knew what I was doing?”

BULLIES There is a lot in the news about teenage bullying, but it is not just a problem among the young. Adult bullies exist and many in the community association industry will verify that fact. You would think by the time someone is 30 or 40 or 70 years old, they would stop that type behavior. But many managers will agree that adult bullies exist.

Remember, while this may be where you live, it is a workplace – our workplace!

According to the Department of Labor, workplace violence is any act or threat of physical violence, harassment, intimidation, or other threatening disruptive behavior that occurs at the work site.

It ranges from threats and verbal abuse to physical assaults and even homicide.

If your association has employees, be sure to check your Employment Practices Liability Insurance (EPLI) policy for requirements regarding harassment policies. One cooperative association recently received the following notice: We were advised by Greenwich Insurance that your business currently does not have policies regarding harassment, discrimination or employment at will….Greenwich Insurance requires that you adopt and distribute policies regarding harassment, discrimination, and employment at will to your employees within 30 days of coverage.

A quote from The True Joy in Life sums it up pretty well:

Adult bullies never learned how to play in the kindergarten sandbox with their friends. They never learned how to deal with the word “no”. Even as a child, life is full of disappointments, not getting your way, and unmet expectations. Unless that child learns how to deal with disappointment, cruelty, unfairness, rejection, and emotional pain, he will grow up without the social and emotional skills he needs to interact and work with others.

Instead of learning self control and self correction, he will react to emotional pain with anger and pitch a temper tantrum. So this child grows up and moves into your community not knowing any other way to be heard than to yell and pitch a fit. Nor does he know how to listen or negotiate but somehow gets elected to the board of directors. All discussions or decisions made by the board are now a challenge to him. He has to win and will do so with intimidation and threats. Sometimes the threats result in assault.

And as if that isn’t enough, bullying is complicated with aging, medication, and dementia.

HOSTILE WORK ENVIRONMENT A hostile work environment exists when an employee experiences workplace harassment and fears going to work because of the offensive, intimidating, or oppressive atmosphere generated by the harasser.

Bullies can create a hostile work environment in our community associations. Residents need to be warned against this type behavior and boards should take immediate action to stop it.

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This is the true joy in life — being used for a purpose recognized by yourself as a mighty one… being a force of nature instead of a feverish selfish clod of ailments and grievances complaining that the world will not devote itself to making you happy.

I am of the opinion that my life belongs to the whole community and as long as I live it is my privilege to do for it whatever I can.

I want to be thoroughly used up when I die, for the harder I work, the more I live. I rejoice in life for its own sake.

- George Bernard Shaw

Betsy Barbieux, CAM, CFCAM, is a Professional Development Coach with Florida CAM Schools, LLC in Leesburg, Florida. To learn more, visit www.FloridaCAMSchools.com or she can be reached at 352-326-8365 or betsy@floridacamschools.com.

summer social on august 18th

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“Devoted to the Personalized Representation of Community Associations” 390 N. Orange Ave. Ste. 2300 Orlando, FL 32801

6767 N. Wickham Rd. Suite 6767 Melbourne, FL 32940

www.ruggierilawfirm.com

Some say first impressions are everything.

We say it’s the lasting ones that count.

Be confident about the message your landscape sends. Partner with our team of landscape experts whose tailor-made solutions, dependable service and consistent results ensure your resident’s first experience is never their last.

Susan Chapman 407 702 4929 Susan.Chapman@brightview.com

www.BrightView.com

JOINT CHAPTER

LUNCH & LEARN for CEU Credit

Mastering the One Hour Board Meeting with Laurie Shrader of Angius & Terry

FOR THE FIRST TIME IN PALM COAST!

Connect with CAI Members in Other Counties Like Never Before!

OCTOBER 14TH 11:30am-1:30pm Cost: $25

HILTON GARDEN INN 55 Town Center Blvd.

Palm Coast, FL 32164

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CE N TRAL F L O R I D A T I M ES | 3 R D Q UARTER 2 0 1 6

REGISTER TODAY

at caicf.org

welcome new members!

BUSINESS PARTNERS Apex Security & Connection Services, Inc. Ms. Marianne Fenty Benjamin Moore & Co. Mr. Brent Dickson

Kent Security Services, Inc. Ms. Valerie Scott Midway Services Utilities, Inc. Ms. Chrissy Farrish

MANAGEMENT COMPANIES

GB Painting Mr. John Rampino

Community Partners Solutions Inc Mr. Alberto J. Tse

Image Pools Florida, LLC Mr. Dennis Landis

Extreme Management Team, LLC Mrs. Kathleen Hardt

Mosquito Nix Mr. Taylor Lippincott

MANAGERS

Omegascapes, Inc. Mr. Derek Ryan Renovia Mr. Chris W. Hall

MULTI-CHAPTER BUSINESS PARTNERS Awnclean USA, Inc Ms. Karen Sebesta Business Law Group Mrs. Candice J. Gundel, Esq. Coastal Construction Products Mr. Ron Mans

Ms. Belinda George Ms. Susan M. Sevor Mr. Daniel Dickson Elliott Merrill Community Management Mr. John D. Eisinger Elliott Merrill Community Management Ms. Tania Quinones, CMCA FirstService Residential Ms. SunDay Louise Wright, CMCA FirstService Residential

VOLUNTEER LEADERS Mr. Warry Go Mr. Jerome Bonalle Outdoor Resorts at Orlando, Inc Ms. Monica Boturia Outdoor Resorts at Orlando, Inc Mr. Vitoli Dewicki Outdoor Resorts at Orlando, Inc Ms. Beverly Hamilton Outdoor Resorts at Orlando, Inc Mr. Gary Hoeft Outdoor Resorts at Orlando, Inc Mr. James Kenney Outdoor Resorts at Orlando, Inc Mr. Larry Lewis Outdoor Resorts at Orlando, Inc Mr. David Powell Outdoor Resorts at Orlando, Inc Mr. Robert Poydence Outdoor Resorts at Orlando, Inc

Ms. Cynthia Pierson Leland Management

meet the managers on july 14th

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With community association lending expertise like ours, you’ll get the job done right.

take that to the bank.

Mark Evans Regional Account Executive 321-745-8444 Toll Free 866-800-4656, ext. 7488 mark.evans@mutualofomahabank.com

mutualofomahabank.com AFN45863_0813

Member FDIC Equal Housing Lender

master gardener annual plant & garden festival The UF/IFAS Extension Orange County Master Gardener Volunteers will be holding their Annual Fundraiser on October 8th from 9am to 4pm. The event will be held at the Orange County Extension Education Center. FREE PARKING AND FREE ADMISSION!

The proceeds from this event go toward increasing the visibility of Orange County Master Gardener Volunteers and projects throughout the county. This year’s main project is a collaboration with Nemours Children’s Hospital community gardens initiative at Head Start Facilities in Orange County.

LOCATION INFORMATION Orange County/UF-IFAS Extension Education Center 6012 S. Conway Road Orlando, FL 32819 407-254-9200

Plant Vendors, Artisans, Seminars, Garden Shop, Raffle, Children’s Activities, Food Trucks, Garden Tours, a free raffle ticket and more!

The Master Gardeners would like to thank OUC and Home Depot for their help in sponsoring this event.

CONTACT INFORMATION Janice Oberwetter Master Gardener Orange County Florida janlober@cfl.rr.com 321-431-1167

One-third of Americans who are eligible to vote have never registered. Even worse, of those who have registered and are eligible to vote, fewer than 58 percent did so in the last presidential election.

More than 67 million people live in community associations; these individuals can play an important role in building their communities’ political power.

If you or others in your community haven’t registered to vote, CAI has made it easy for you. Register to vote at www.caionline.org/ YourVoteCounts. Deadlines vary from state to state, so register today.

Every vote counts—and together, we can have a powerful impact and protect America’s communities.

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CAI CENTRAL FLORIDA CHAPTER MEMBERSHIP BENEFITS In addition to the many perks associated with a National CAI Membership, your local Central Florida Chapter offers even more value and engagement to its members:

HOMEOWNER VOLUNTEERS

COMMUNITY MANAGERS

If three members from the same board join the chapter, your first year of membership dues are FREE

CAICF will pay for HALF of your manager tuition fees for required education credits

MANAGEMENT COMPANIES

BUSINESS PARTNERS

Company recognition & networking Maximize business brand opportunities with current & recognition & enjoy exclusive potential clients, as well as face-to-face networking industry-specific business partners opportunities with potential clients

LOCAL CHAPTER EDUCATION AND NETWORKING EVENTS Quarterly Board Certification classes CEU credit hours at specified luncheon events Participation opportunity at the Annual Golf Outing Invitation to the Summer Social & 2015 Holiday Awards Gala Admission and exclusive perks at one of the best community association tradeshows in Central Florida

Opportunity to attend and speak at panels, Q&A sessions, education classes, and Business Roundtable events Participation & sponsorship opportunities at the Annual Golf Outing Invitation to the Summer Social & 2015 Holiday Awards Gala Admission, exclusive booth vendor pricing, and sponsorship opportunities at one of the best community association tradeshows in Central Florida

Professional Designations & Certifications Local Professional Management Development Program Classes Quarterly Board Certification classes CEU credit hours at specified luncheon events

ACCESS TO SPECIALIZED COMMUNITY ASSOCIATION SERVICE PROVIDERS Online service directory Personal interaction at monthly events Panels and Q&A sessions

SPONSORSHIP & MARKETING OPPORTUNITIES In addition to brand recognition, sponsors enjoy benefits like a free booth at the trade show, advertising opportunities, first consideration at speaking events, discounted pricing for future sponsorships and events & advertising on the chapter website Inclusion in the Service Directory

INCLUSION IN ONE OF THE LARGEST CHAPTERS IN THE US ENCOMPASSING OVER 7,500 HOA & CONDOMINIUM ASSOCIATIONS IN MARION, VOLUSIA, SEMINOLE, ORANGE, BREVARD, OSCEOLA, POLK, LAKE & SUMTER COUNTIES!

Interested in joining the CAI Central Florida Chapter?

For assistance or more information, reach out to the Executive Director by calling 407-850-0106 or e-mailing at exdir@caicf.org.

To join now, visit www.caionline.org for membership categories and dues.

Prior to joining online you will be prompted to log in or create an account. Membership dues are non-refundable.

3RD QUART ER 2016 | CENT RAL F LO R I D A TI M E S

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liabilities & insurance

BY CAI PRESS, A DIVISION OF COMMUNITY ASSOCIATION INSTITUTE

E

ach condominium, cooperative or planned community is exposed to liabilities that have the potential to cripple the association. Therefore, commercial insurance is one of the most important components of a community association’s risk-management program.

One reason associations exist is to protect assets, which can be tangible (like equipment) or intangible (like resale value). Since insurance helps protect assets, association boards are legally required as fiduciaries to make informed decisions about their commercial insurance program.

Property and liability insurance can be divided into commercial (purchased by the association) and personal (purchased by the homeowner) insurance. The question, “Where do the common elements end and the homeowner’s unit begin?” becomes important for each party.

For associations, a commercial package policy covers property and liability. Even the most basic planned community will have some type of common area property. Trees, entrance signs, fencing and light poles fall under property insurance in a commercial package policy.

The causes of property loss fall into three categories of peril: natural (fire, disease, flood), human (homicides, negligence, pollution, thefts) and economic (strikes, new technology, market fluctuations). Typically, insurance contracts deal only with natural and human perils.

Liability insurance covers as association if a claim is brought against it, such as breaching a legal duty, allegedly causing harm and other instances. Liability may result from any number of associations activities.

variety of property and liability insurance. Most are standardized, but some are designed specifically for common interest communities. When choosing an insurer, consult the A.M. Best Insurance Company Report or contact the National Association of Insurance Commissioners or the state insurance commissioner for insurers who are financially sound and committed to community associations.

The insurance industry is highly regulated at the state level in terms of rates, policies, standards and business practices. So how can a community association determine whether it is complying with all requirements? Here are some basic steps:

• • • •

•

Examine the governing documents and related rules, regulations and resolutions.

Examine the state-enabling statute, if any, that created the association.

Determine if local, state or federal laws apply.

Determine if the association needs to comply with the requirements for any of the following organizations: FNMA, FHLMC, FHA or VA. Determine if the association has assumed any insurance or indemnity obligations under a contract with a contractor or service provider.

One of the important aspects of community association insurance is that it also covers volunteers. People who may fear personal liability if they participate on a board or committee are covered under the association’s Directors and Officers insurance as long as they act in good faith and observe the law.

© CAI Press, a Division of Community Associations Institute. No part of this article may be reproduced in whole or in part without written consent.

Insurers, operating primarily through agents and brokers, offer a 24

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Please direct inquiries to cai-info@caionline.org.

Specializing in Community Associations Since 1962 For more information contact: Matt Reedy, AAI Sales Executive (p)321-574-6939 mattreedy@bouchardinsurance.com

1-800-966-6481

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where community matters

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Gain an HOA banking team that’s been around the block With over 25 years of experience in the community association industry, our team delivers the solutions and the support to meet your unique needs. From accelerated payment processing to the latest in fraud protection, we help simplify the overall management of your associations’ banking on our easy-to-use 24/7 online platform.

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Towers Property Management is a family owned and managed business.

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References and free estimates are available by contacting us at:

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Terms and conditions subject to change. ©2016 MUFG Union Bank, N.A. All rights reserved. Equal Housing Lender.

Member FDIC. Union Bank is a registered trademark and brand name of MUFG Union Bank, N.A.

Office: 407-730-9872 Fax: 407-730-9877 www.towerspropertymgmt.com info@towerspropertymgmt.com

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For your no-cost proposal, please call Nilsa Corsino at (800) 980-9881 or visit reserveadvisors.com

COMMUNITY ASSOCIATION LOANS Valley National Bank understands maintaining property values is important to your Association. That is why we created a flexible and competitive priced package of loan products to assist you with renovations, repairs and insurance premium financing.

UNIQUE ADVANTAGES: • Competitive Fixed and Variable Interest Rates • Project Specific Loan Structure • Flexible Payment Terms to Meet Your Goals • Up to 100% Annual Insurance Premium Financing

At Valley National Bank, we can customize a solution to meet your needs. Please contact us for more information.

Charissa Eller Vice President Property Management Specialist Phone: 407-581-5426 Cell: 321-315-6275 Email: celler@valleynationalbank.com

® © 2016 Valley National Bank®. Member FDIC. Equal Opportunity Lender. All Rights Reserved.

Fulfilling the requirements of Condos and HOAs in Florida Audits - Compilations - Reviews Tax Returns - Budgeting - Filings ➢ ➢ ➢ ➢ ➢

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