Join your peers across the commercial real estate ecosystem for an in-depth presentation on Real Estate Tokenization, and how it is transforming access to capital and liquidity. This webinar is ideal for real estate developers, investors, asset managers, REITs, family offices, and holders of real estate loan portfolios who are seeking to gain access to more sources of capital and higher liquidity.
Watch our panel discussion to learn how four diverse campuses are planning for Fall 2021. Hear how each will be addressing vaccines and testing, roommates and room changes, quarantine and isolation housing, international students, residents guests, and more.
Brewer Offord & Pedersen LLP
The Law Offices of Peter N. Brewer, a real estate and lending law firm located in the heart of Silicon Valley, recently produced a free webinar covering important legal issues that California landlords needs to know. Discussing deposits, leases, and habitability considerations, attorney Ashlee D. Adkins and Henry Chuang provided critical information for owners, REALTORS®, and investors alike who are considering residential rental properties as a source of additional investment.
The aftermath of the Surfside condominium collapse is one of the most unspeakable tragedies in condominium history. As investigators continue to search for the cause or causes of the collapse, it is natural to search for solutions on how future building collapses or other disasters can be prevented. It is unlikely that there will be a "single" identifiable cause of the condominium collapse. Rather, the collapse was likely caused by a multitude of factors.
Counsel for HOAs should consider reviewing policies and actions of the condominium association's board of directors. Most states provide various protections for volunteer directors of a nonprofit corporation and only require that a director must discharge their duties in good faith, with the care of an ordinarily prudent person, and in a manner that they believe is in the best interests of the corporation. Directors should ensure that their articles of incorporation and condominium bylaws are updated so volunteer directors are appropriately protected from liability. Similarly, volunteer board members should consult with insurance agents to ensure that appropriate directors' and officers' insurance is in place.
Boards will want to examine inspection and engineering reports and communicate those findings to co-owners to determine the advisability of proceeding with repairs. Counsel should advise condominium board members to act on the advice that is received. Boards need to budget properly and realize that sometimes difficult choices need to be made, which may involve assessment increases that will not be popular with co-owners.
Some condominium documents require the condominium association to perform an annual inspection of the major common elements. While hiring professionals to perform inspections costs money, amending your condominium bylaws to require mandatory inspections may not be a bad idea. Similarly, while reserve studies are a best practice, there is nothing preventing a condominium association from amending their condominium bylaws to require that reserve studies or structural engineering inspections be performed on a regular basis. While condominium and homeowner association acts may not impose minimum insurance requirements, boards should consider reviewing coverage and increasing limits based on current risks.
Listen as our expert panel discusses best practices when advising boards on repairs, inspections, and engineering recommendations for condominiums in order to avoid future disasters.