Signal of Tampa on LinkedIn: #hb837 #premisesliability #propertymanagement (2024)

Signal of Tampa

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A common question we receive is "do our built to rent communities qualify as multi-family housing for Florida Statute 768.0706?"For the Statute Multifamily residential property means a residential building, or group of residential buildings, such as apartments, townhouses, or condominiums, consisting of at least five dwelling units on a particular parcel, and a parcel means real property for which a distinct parcel identification number is assigned to the property by the property appraiser for the county in which the property is located.If your property meets both requirements, you can get a presumption against liability in security negligence cases. But only if you implement the requirements in the Statute.#hb837 #premisesliability #propertymanagement

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    • Signal of Tampa on LinkedIn: #hb837 #premisesliability #propertymanagement (3)

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  • Matthew Wildish

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    A court ruling has ordered building landlords to pay for the costs of fixing fire-risk flats in the Olympic Village. The verdict sets a precedent for building landlords to pay for Britain's cladding scandal, protecting flat owners and taxpayers. The ruling comes after the Grenfell Tower fire in 2017 exposed serious defects in buildings, including flammable cladding and missing fire barriers. The cladding scandal has affected 4.2m people across Britain, with owners of 1.5m flats unable to sell or get a mortgage due to safety concerns. The court ruling orders building owners and developers to pay for fixing hazards, setting a precedent to help flat owners nationwide. #legal #law #courts #landlords

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  • Brian Sahn

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    https://lnkd.in/eVmmtd8PIn this WSJ article, writer Deborah Acosta lays out the pending doom in the Florida condo market, triggered by a recent state law forcing older buildings to meet much stricter standards following the Surfside condominium collapse catastrophe in 2021. The law essentially requires inspections for all condominium and coop buildings 3 or more stories, to determine their structural soundness. The results are potentially huge assessments against the owners to pay for repair and maintenance programs, as well as maintaining requried reserves. "In Miami, about 38% of the housing stock is condos, the highest of any major metropolitan area in the U.S., according toZillow. Of those buildings, nearly three-quarters are at least 30 years old. For those that have large repairs looming, many owners are scrambling to sell before Jan. 1 when building reserves must be fully funded to be in compliance with the law."All of this is on top of increased insurance costs due to recent storms hitting Florida's real estate market. As a result, owners in these older buildings are reducing pricessignificantly. One result, may be that savvy developers, eyeing to score water front real estate on the cheap, will buy their way into existing older buildings with the aim of taking over and eventually orchestrating the sale of remaining units, to ultimately knock down buildings and build new luxury units.

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    • Signal of Tampa on LinkedIn: #hb837 #premisesliability #propertymanagement (11)

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  • Jack Schwartz

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    I came across a "tenants exclusion" today on a package policy for a residential real estate owner of single family rentals. The exclusion stated that coverage would not apply to "liability or suits arising from Tenants or the acts of Tenants." Thus, if a fire were to arise from a tenant and spread to injure or cause property damage to others, there would be no liability coverage for the owner. Policies for SFRs, of which I have had the opportunity to review a few different carrier forms over the past year, generally tend to be more restrictive and limited in the coverages they offer. For those who haven't dealt much with SFRs, and even those who have, be vigilant in reviewing policy forms and understand the limitations of coverage being offered to your clients.

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  • Deanna Mastellone M Com

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    I have sent a horrific horror strata story which started in 2017 to the 7.30 report - read it on my Facebook page. Proposed Strata Legislation does NOTHING to protect strata owners. There are no rules nor regulations for strata - committees can do what ever they like. We need robust strata law reform now. The Dept of Fair Trading is known as the Dept of Fairytales - another toothless tiger with zero powers over strata NCAT Mediators have zero construction defects nor building construction knowledge who make stupid, wrong, unjust decisions. The committee can determine whatever they like, add fees to levies, determine what is common area and what is not. Even become involved with Criminal and Family Court cases. Use their strata funds for their personal vendetta Time for them to be held accountable, and be charged for illegal, fraudulent conduct. The current legislation only looks at the last 3 years. Wrong is wrong and cannot be ignored nor dismissed. Fraud luckily has no time limit.All strata owners should be able to log into a secure website so they can see everything and know exactly what is going on with their strata plan.

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  • Joseph Colbert, Esq.

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    Attention Property Managers & Condo Boards! A recent New York court decision sheds light on how to hold both condominium developers and their principals accountable for construction defects and other breaches. This new decision is important for those looking to protect their condos and owners. Learn more about this decision and how it could impact you reading this article. #PropertyManagement #CondoBoards #ConstructionDefects #RealEstateLaw

    Holding Condominium Developers and Their Principals Liable https://colbertlaw.us
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Signal of Tampa on LinkedIn: #hb837 #premisesliability #propertymanagement (2024)

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