CAI March 13, 2011
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CAI did a great job yesterday with the show at the Aqua Turf Club. Great turnout, plenty of room and amenities. Several Board members stopped by with questions. They are talking about keeping the same venue for next year. What do you think?
If your roof looks anything like this, click on comments under winter worries for some tips! February 24, 2011
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Winter Worries December 10, 2010
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Winter weather has arrived! The temperature has been typical December weather and with that, some new exposures to our condominium associations…don’t turn off the heat if you are going away for the Holidays as you may return from your festivities to burst pipes and a unit full of water…. How does your Association prevent burst pipes from occurring during the winter months?
condo law December 10, 2010
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What’s on your mind in the ever evolving world of condominium insurance? No surprise as to what has been monopolizing my condominium thoughts! It’s called An Act Concerning Amendments to the Uniform Common Interest Ownership Act!
Effective 07/01/2010
Main points affecting insurance:
Associations must carry Fidelity coverage
Associations must carry flood insurance if in a flood hazard area – (the law does not address how much, however the banks have the right to dictate how much within the scope of the RCBAP rules.)
Insurer waives the right to subrogation under the policy against any unit owner or member of his household
Association policy is primary
Association policy shall include unit owner installed improvements and betterments, unless the declarations prohibit it or the Board of Directors decides not to. If they decide not to include improvements and betterments, the Board must “prepare and maintain a schedule of the standard fixtures, improvements and betterments in the units” that will be covered under the policy, send the schedule to the unit owners at least annually and include the schedule in all resale certificates. The coverage is subject to the policy deductible.
Under certain circumstances, the Association can charge back an Association Master policy deductible to a unit owner. The circumstances are: 1) willful misconduct 2) gross negligence (law does not define gross negligence) 3) failure to adhere to a written maintenance standard set by the Association.
Hello world! March 2, 2010
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Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!
