Photo courtesy Envera Systems
A New Year, a New Opportunity Expected Challenges and How to Plan BY NATHAN VARN
F
or many, 2024 has been a challenging year to be a member or leader of a community in Florida. Increasing insurance costs, new safety and structural requirements for older condominium buildings, and a law mandating financial reserves be fully funded have all been hot topics of discussion and action. It’s a financially taxing trifecta that is straining many association budgets, not to mention the wallets and personal budgets of their community members. The Wall Street Journal and other news publications have spotlighted the situation in Florida and noted that several people are delaying retirement and going back 64 December 2024 FLCAJ | www.fcapgroup.com