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January 2015 Archives

A Community Association Manager's Fiduciary Duty

A question often asked by community association managers, especially those new to the business, is what is a fiduciary duty and do I owe that duty to the association(s) I work for? As per Section 718.111(a), Florida Statutes, the officers and directors of a condominium association owe a fiduciary duty to their unit owners. Fla. Stat. ยง 718.111(a) (2013). However, the statute does not specify whether a community association manager or management company contracted by the board, owes a fiduciary duty to the association as well. A fiduciary duty is a legal duty to act solely in another party's interests. Parties owing this duty are called fiduciaries. The individuals to whom they owe a duty are called principals. 

Common Pitfalls of the First Time Homebuyer

Becoming a homeowner for the first time can be exciting, overwhelming and a bit scary. You search and search in hopes of finding your dream home. Seems simple, but often times first time homebuyers make mistakes that can turn their dream into a nightmare. If you are gearing up to buy your first home, arm yourself with these tips to avoid costly mistakes that could leave you renting instead of owning. According to the real estate websites www.zillow.com and www.realtor.com, here are some of the most common mistakes made by first time homebuyers: 

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