Will Simons: 0:00

That good news side, the financial flexibility means that now if you have alternative funding sources, such as a special assessment you've passed, or a bank loan or a line of credit your association has obtained, you can design your reserve plan around that. Go ahead and flip the hourglass upside down on those things. We're now going to take care of those with this this cash we have so now going into our reserve plan, we can take into account the fact that it now is a full life expectancy ahead of it.

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Association Insights and Marketplace Association Reserves, Community Financials, HOA Invest, and Kevin Davis Insurance Services. You'll find links to their websites and social media in the show notes.

Robert Nordlund: 0:44

Welcome back to Hoa Insights: Common Sense for Common Areas. I'm Robert Nordlund, and I'm here today for episode number 118 with the president of our Florida regional Association reserves office. Will Simons, Rs. The RS stands for reserve specialist. Now so many listener questions have to do with Florida legislation, even though we're over four years after the tragic Champlain towers South collapse, so there's still a lot going on. The state of Florida continues to balance the tightening of standards related to condo safety and not upsetting the balance of owner freedoms, owner reactions, board responsibilities and real estate values. So with a significant new set of revised laws that went into effect July one here of 2025 we felt it was a good opportunity to get someone on the show who was on the ground and well versed in this new law and Florida legislation in general. Well, last week's episode 117 was another one of our popular board hero conversations, this time with a board member from the Florida Keys by the name of Lynn ochberg. And we titled The episode experience counts. And you'll realize that after just a few minutes of listening to her story of being a board member at her association, she's a delightful lady, and when I finished recording that episode, my thoughts afterwards were, wow. Next time in Southern California, I need to look her up and make plans to visit. I know there are many of you listening that are just like Lynn, selflessly and effectively caring for your association, and we want to say thank you and celebrate the hard work you do for your association. So if you missed that episode or any other prior episodes, take a moment after today's program to listen from our podcast website, Hoa insights.org, or watch on our YouTube channel, but better yet, subscribe from any of the major podcast platforms so you don't miss any future episodes. Well, those of you watching on YouTube can see one of my favorite mugs here. It's an HOA insights mug, a couple of board members talking in front of their deteriorated Association trying to figure out if that's really what they want to do with low assessments. Anyway, I got that mug from our merch store, which you can browse through from our Hoa insights.org website, or the link in the show notes, you'll find we have some great free stuff there, like board member zoom backgrounds and some specialty items for sale, like the mug. So go to the merch store, download a free zoom background, take a moment look around and find the mug you'd like, and email me at podcast at reserves, a.com with your name, shipping address, mug choice, mentioning episode 118 mug giveaway, and if you're the 10th person to email me, I'll ship that mug to you free of charge. Well, we enjoy hearing from you responding to the issues you're facing at your association. So if you have a hot topic, a crazy story, or a question you'd like us to address, you can contact us at the same email address, podcast at reserve study.com or call us at 805-203-3130, but this episode is on me. As I said a moment ago, I wanted to share some news from Florida. About this new mid year legislation, what it's about, why it was written, and what it does. So will welcome to the

Will Simons: 4:08

program. Robert, Hey. Hello from Florida. Thanks for

Robert Nordlund: 4:11

having me Fantastic. Okay, what's this new bill called, and why did it start here July one?

Will Simons: 4:19

Yeah, well, this most recent piece of legislation is House Bill 913, this is the culmination of a process that really began, I want to say last summer, maybe last fall. Prior to this one, we had a couple other pieces of legislation in Florida that addressed the need for reform for structural integrity, reserve studies, from milestone inspections, bunch of other kind of overdue changes to Florida law that were, you know, unfortunately brought about by the Champlain tower South tragedy. So this really has been something that's been, you know, beginning in workshops last fall, and then made it through this year's legislative cycle in Florida. And was just, I. Passed by the legislature maybe a month six weeks ago, something like that, and then it was signed into law maybe a week or two ago, and it took effect July 1. So I should say, I guess it probably was signed late June, but took effect July 1. So this is now the new law of the land here in Florida.

Robert Nordlund: 5:19

Excellent. And that's a clarification that I want to make sure everyone hears. It's Florida law. It's not national law. So the kind of things we're talking about today have to do with Florida and specifically their legislative response to Champlain tower south. Champlain tower South collapse was 2021 so they started some condo safety legislation. Wasn't the first one in 2022

Will Simons: 5:42

Yeah, that was Senate Bill 4d. Was the first official piece of legislation that came out in summer of 2022 and then that was followed in 23 by Senate Bill 154 and then in 2024 we had another house bill, which wasn't exactly meant to change very much with the CERs requirements. And just for those listening, I'm going to say SIRs as an abbreviation. That's s, I R S, that's structural integrity reserve study. So this is the fourth year in a row, really, that we've got new legislation, and I really see that as an ongoing effort and a challenge for the Florida lawmakers to respond to this. It's obviously a very, very complicated issue, or really combination of issues, and I've really been impressed with how diligent the people involved have been to try to get this right. So the most recent addition, or changes to the law, and there, there could be more coming next year, but for right now, this is the latest.

Robert Nordlund: 6:42

Got it now, tell me about you said the SIRs the structural integrity reserve study. How is that different from what people across the country might think of as a reserve study?

Will Simons: 6:53

Yeah, what I've been trying to emphasize to people is that it is still a reserve study. It's still based on a physical analysis and a financial analysis for a property. What's different about a CERs from a conventional reserve study is that in Florida, we now kind of separate out a subset of components which are now considered, you know, structural and those are mandatory to be funded in a different way from non structural components so on. Then on the structural side of things, we're looking specifically at the roof, painting and waterproofing, the structure of a building, windows and doors, plumbing, electrical, fire protection, and any other big ticket item that would otherwise possibly compromise or affect one of those things on the list. So that's what you'll find in a sirs. Now, as we know, condos and co ops and other properties consist of much more than that. You've got interior common areas, lobbies, hallways, swimming pools, elevators, air conditioning systems, you know, tons and tons of other stuff, which are all traditional reserve components but have not specifically been selected for that structural integrity designation. So these days, what we do for our clients and what other providers are doing for their clients, typically is two reports. We will have the CERs and then a, you know, a non SERS or a non structural reserve study. Both of them, really, though, follow a lot of the same principles, the same methodology, you know, the backbone of any good reserve study starts with the component list, with having an accurate understanding of what is there, what is its life expectancy, what is its replacement cost, and then translating that into an actionable funding plan so that the client has enough money when they need it, and they don't get caught by surprise and need to rely on any outside sources of funds that is true and consistent with any reserve study that's ever been done. The only difference now is the CERs focuses a little bit more narrowly on those things.

Robert Nordlund: 8:50

So you said a couple of things. There's the mandatory side, the CERs side is a list of specific components or projects at a property. And then there's the non mandatory, all the, I want to say, normal stuff that happens at a community association. So what you have is kind of part A and part b2, parts that together help a board member. And we're talking to board members here understand what their total obligations are.

Will Simons: 9:23

Yeah, that's very important, I think, for people to understand that, to appreciate the total financial picture for an association, you really have to have both. We've talked to some buildings in the last couple of years who just wanted to do the structural side only, and some others who said, we've got a SIRs now we just want to do the non structural side. I really would try to avoid that. I would try to keep your your reserve planning kind of in a comprehensive, coordinated fashion, so that you're whenever somebody is looking at the reserve budget, they're seeing the totality of the property, because it's very easy to get caught by surprise. You know, one of the things I mentioned there was elevators, particularly with higher. Buildings. Elevators are one of the most expensive things that you'll need to budget for, but they're not considered structural components under that law. So, you know, we really just want to emphasize to people that you can't, you know, close one eye and expect to see the whole thing, right? You have to have the both studies together, representing the entire property?

Robert Nordlund: 10:21

Yeah. I imagine, if you're in a was it 13 stories for Champlain tower south? Um, yeah, something like that, yeah. And all of a sudden, two of the three elevators aren't working, and the third one is unreliable. Your life's really going to change if you're on the 11th or 12th or 13th floor,

Will Simons: 10:37

yeah, no doubt about it, especially in Florida, where we have a lot of retirees and folks that would not look too fine, look too kindly at taking the stairs on a hot day for 10 or 12 stories. So yeah, absolutely.

Robert Nordlund: 10:49

Well, I also want to explore a little bit about the mandatory and non mandatory that's an issue in Florida, because almost for what can we say for decades? Haven't the owners there had a line item veto for reserve funding?

Will Simons: 11:06

Yeah, if this, if we had the magic wand that that we that we would like to have, I would turn back time and change this. You know, decades ago, and it would have done a lot of people a lot of a lot of good. But yeah, for a long time, association residents, not the board of directors, but the residents of a property have the final say so on whether or not they would include reserve funding in their annual budget. So what would happen, traditionally or typically, is the board is charged with preparing the annual budget. They have to put together a budget that includes adequate reserve funding for their components, but then there would be a step where the membership could vote to waive those reserve funds, or not put the money away, or to partially fund them. So we have a lot of properties in Florida that historically did little to nothing when it came to reserve funding, and they were illegally allowed to do that. Well,

Robert Nordlund: 12:00

wait, I want to make sure you say that clearly they were legally allowed to do that,

Will Simons: 12:05

correct? Yes, they were within their rights to do that. They provided that they went through the motions right, they would have to get an adequate vote taken. But if that took place, they would be able to enjoy, say, enjoy an annual budget that did not have any reserve money in it. Now, if you look at that from the perspective of a brand new building, right, where their reserve obligations feel very far off, you can kind of understand the mentality, right? The board might say, Okay, here's Plan A we have to show you this number that's got reserve money in it, and it's going to cost you, you know,$400 a month. Well, here's Plan B, if we take out all the reserve money, it's $200 or $250 a month. Which would you guys like? And if you're sitting here in a brand new building, it's very easy to to not care or to turn a blind eye to those things that are, you know, going to be somebody else's problem way down the road, fast forward and over time, if every generation of owners who comes and goes through that building has that same mentality, nobody's picking up the tab, right? It just gets shifted and shifted and shifted until those projects start to come due. Now you're looking at a roof replacement or a big painting project, or whatever it may be that you have not been saving for over all this time, and so traditionally, that would be a special assessment or a bank loan to pay for that. And people kind of shrug and move on and say, Okay, next time that happens, it'll be somebody else's issue. Well, this, this has gone on in Florida for a long, long time, and it's very unfortunate, because now we've got a lot of aging properties where the rate of saving has not kept up with the rate of deterioration of their components, and they're finding themselves in a tough spot.

Robert Nordlund: 13:49

Yeah, I think it was Warren Buffett said regarding investors, when the tide goes out, you find out who's who isn't who isn't wearing a bathing suit. And I think this is one of those situations where people are looking around in Florida and saying, oh, yikes, we've been at with your hypothetical. We've been at 250 a month, and we should have been at 400 a month.

Will Simons: 14:13

That's 100 and now it's going to be 700 a month, and because we're making up for lost time, right?

Robert Nordlund: 14:18

Exactly. And that's that's a hard thing. And so that's why, if you're in the 49 other states, and you're hearing about the condo crisis in Florida, we're talking about a lot of associations that have been kind of from my California point of view, the owners have been going to Disney World instead of setting aside funds towards reserves. Again, from an outside point of view. It It feels kind of crazy, because Mother Nature and Father Time don't care what the reserve requirements are, they're gonna do what they do, and that's wear down a building. So, yeah, yeah. So it's catch up time.

Will Simons: 14:56

It's definitely unfortunate, you know, and I think part of it is just. Kind of just maybe a little bit of complacency, but, but again, these people were not breaking the law. This was an allowable option, and it was the norm in a lot of places. And so, you know, for a long time, I've always kind of felt that, you know, historically, associations that did do a good job of funding the reserves, right, that they were being responsible putting away that money kind of took a hit in the marketplace, in the sense that, if I'm a condo buyer and I'm looking at two buildings, and one has a healthy reserve fund and is budgeting properly, but the dues are higher. There 500 a month, yeah, compared to the the other building across the street, where, you know, little to no reserves, not as much in the budget, but their annual, you know, assessment, or their monthly assessment, is lower. To the uninformed buyer, that second building might look a little bit more attractive. Hey, the dues are less over here. Otherwise, these buildings look and feel about the same. To me, not really digging into the financial statements, my realtor said, This building's Great. Well, what do I know the difference? So if you were in that first building, right, you're almost kind of getting penalized in the market a little bit by your your property value may be suffering because you're not as attractive to that pool of buyers. So what I think is happening now with this new law, and that, you know, the last couple years have resulted in this kind of a leveling of the playing field, I think now that everybody's going to be mandated to fund their reserves properly. That's going to balance things out. Now, it might take a little bit of time. It might take a little bit of friction and frustration, but this is a good thing for the state of Florida. Ultimately, people are going to be paying the appropriate amounts right, paying the true cost of ownership to live in these buildings, which, historically, I don't think they were quite doing that.

Robert Nordlund: 16:43

Yeah, and you said a phrase, they're mandated to fund their reserves properly. Still in Florida, they're only mandated to fund a few of their components. They can still waive funding for, as you said, the air conditioner, the elevator, the carpeting, all that kind of stuff.

Will Simons: 17:00

Yeah, that is true, right? So that in this last couple years of legislation, they did improve that it is now more difficult to waive funding for those non structural components. Now requires a basically a simple majority, 51% vote of the owners to do that was in prior years, typically was a majority of a quorum of owners. So if you had 100 units in a building, and a quorum was, you know, 35 owners, well, you would only need a majority of 35 so you could have 18 people who decide the fate for all 100 people, because they're the ones who showed up and were vocal at the meeting. Now it's 51 out of 100 owners would have to show up to make that vote. So that's a step in the right direction too. I mean, obviously we don't think there's ever a good reason to waive reserve funding that doesn't make the problem go away. You're just gonna have to pay for it in another fashion, some other time. But yeah, that that's a, you know, a half step in the right direction.

Robert Nordlund: 17:56

Yeah, I realize I'm wringing my hands here just thinking about that kind of stuff, so the people watching on YouTube can see what I'm thinking about this. But yeah, it's a good challenge for people across state lines, in Georgia or up the coast in Virginia or anywhere else. They're saying, like, wait, wait a minute, they're only paying part of what they should have been paying. So, yeah, there's going to be a rebalancing. But are you beginning to see at all the or get a sense that the new condo buyers are looking for the reported reserve fund strength to find out if they're buying into a strong association or a weak Association? Has that started to happen yet?

Will Simons: 18:40

Yeah, I think so. Anecdotally, I hear about that. We get calls from people who are in the process of trying to buy a condo, and whether it's them or their lender that's requiring it. There is more of a focus and intention on this. Spoke at a panel discussion earlier this year for the Miami chapter of the National Association of Realtors, their whole room full of realtors who are all asking very intelligent questions about condo reserves and, you know, budgets and fund amounts and requirements that, you know, five years ago, 10 years ago, I don't know that that would have been a topic of discussion, or if it would have been, you know, an afterthought. So, yeah, I think that the whole market is taking these things more seriously now as they should. Yeah,

Robert Nordlund: 19:23

well, that's That's a good thought. That's a sobering thought. And I have a number of additional questions I want to find out, and I'm sure our audience does too, but it's time to take a quick break to hear from one of our generous sponsors, after which we'll be back with more common sense for common areas and news about Florida legislation.

Paige Daniels: 19:41

Are you part of a homeowners association or condominium board? Making the right financial decisions for your community's future is crucial. At Association reserves, we're proud to serve communities nationwide, specializing in reserve studies tailored to your community's unique needs. Our expert team helps you accurately assess your property's assets. Forecast future expenses and develop a solid funding plan, whether you're a small HOA or a large condominium association, we've got you covered. Visit reservestudy.com to learn more and get a proposal for your association.

Robert Nordlund: 20:12

Now we're back well during the break, Will and I were speaking about the legislation itself, and realizing that we owe you an explanation about what this legislation actually says and does. So will take us down the path of some of the hype, the key points or the highlights of this new legislation that went into effect, July 120, 25 in Florida.

Will Simons: 20:33

Sure. Yeah, there's, there's a lot to it. I believe the final bill text is 190 something pages, so Yikes. I won't pretend to cover it in any great detail. I mean, there's stuff that touches on milestone, inspection requirements, responsibilities for developers, board member obligations, things like that. So I'll try to focus on some of the really important stuff. This is not a tear down and rebuild of any prior legislation. It's a fine tuning of it, the list of components required in a CERs did not change, except for one, you know, small but important detail, the dollar threshold for what constitutes a kind of significant dollar amount has been raised from $10,000 to$25,000 so I think that was, that was fine. That's good. The$10,000 number had been in place for decades and hadn't been updated in quite a long time. So effectively, what that means is, Well, traditionally, condos had to fund reserves for roofing painting and pavement resurfacing and anything over$10,000 so now all condos in the state, not just those subject to the service requirements, can actually enjoy that that increase. Aren't

Robert Nordlund: 21:43

there some significant projects that are still 1011, $12,000 that they arguably should

Will Simons: 21:50

fund through reserves, absolutely, just because the log gives you that option doesn't mean you should take it, right? If you're in a 12 unit building, that $25,000 cost is more than two grand per owner, right? So you don't want to get caught by surprise for that. So just because you know the law gives that option, I think each building needs to look at what is a significant threshold for them and then plan accordingly. So you know procedurally how to do a CERs didn't really change in this. One of the very important things was the deadline has shifted. So initially the requirement to get your CERs done was December 31 2024 very few relatively speaking associations met that deadline. So that's been extended to December 31 2025 so about another six months from now,

Robert Nordlund: 22:38

why do you think so many associations were slow to get started on planning for I want to say inevitable deterioration, finding out where they stand. I

Will Simons: 22:48

think it's a combination of things. I think there was just some initial sluggishness, because the laws were changing every year. I think if you go back to 2022 and you look at what the requirement was, that changed pretty dramatically from 22 to 23 another major change that happened in 2023 was they expanded the pool of providers who could actually do the serves. Initially, you had to be a licensed architect or engineer, and traditionally, those people don't do research studies, or at least not as kind of a primary line of business. So when they allowed companies like ours to really, you know, do the entire process, that really expanded the pool of providers. But that was effectively summer of 2023 so that was only 18 months of time to to enjoy that that extra capacity. One result of that too, was that every reserve study provider in the in the state got very busy very quickly, and so there were stretches of time where it was hard to even get a proposal from somebody. So I don't think that there was, you know, complete apathy on the part of a lot of associations. They just couldn't get a good quality provider that they trusted in enough time,

Robert Nordlund: 23:56

because companies like you were just playing busy and hiring and training as hard as you could. Yeah,

Will Simons: 24:03

exactly. I think there was also somewhat of a question mark around enforcement, right? There was not any real clear answer to, you know, what happens if you don't get it done by that deadline? You know, there was a lot of associations that I think were maybe just kind of sitting on the sideline waiting to see what would happen. That is another new aspect of this year's bill that is significant. So the DB PR, the Florida which is, yeah, Department of Business and Professional Regulation.

Robert Nordlund: 24:33

So much of this just rolls off your tongue. Sure, I'm

Will Simons: 24:37

glad it sounds like that to you. It feels like a mouthful, but they are the kind of enforcement body in the state that oversees condominiums and Co Ops, and they have been granted additional powers under this bill to find to issue civil fines to associations who do not meet the deadline, possibly also to remove board members from their positions. So I know our audience has got a lot of board members in it, and. That you care about that position in your community, and you have not done your CERs or won't have it done by the end of this year, you are at risk from being removed from that position. The DBPR has taken this pretty seriously. They've also been granted some additional budgets, some additional staff this year to expand their enforcement capabilities. I know it's a big issue, and so this year, the Florida Legislature really focused on that kind of in two ways, right? They said, We want you to be more responsible. We're going to enforce this, but we're also going to give more flexibility to associations. That's kind of the good news. Bad news. That good news side, the financial flexibility means that now if you have alternative funding sources, such as a special assessment you've passed, or a bank loan or a line of credit your association has obtained, you can design your reserve plan around that. Okay, so if you have an association that was looking at a million dollar project, you got your SIRs done last year, and there you just couldn't fund that money very quickly. You had to do a special assessment or borrow it. That's okay. You can now go back to your service provider and update that study, saying, Hey, we now have this cash that's readily available to our board to spend on these projects. Go ahead and flip the hourglass upside down on those things. We're now going to take care of those with this this cash we have so now going into our reserve plan, we can take into account the fact that it now is a full life expectancy ahead of

Robert Nordlund: 26:28

it, good, and that'll change their funding requirements significantly.

Will Simons: 26:32

Oh, yeah, it should decrease them, right? So if you're in one of these associations that you know went through the process in the last year, two, three years, and has now obtained this money that you didn't have before it's time to update your CERs to take that into account, and in fact, you actually have to. So the part of the new law says that any before you adopt any new annual budget, if the funding of reserves does not align with your most recent CERs, you must obtain an updated one good news is that does not mean you have to start from scratch. Okay, you probably don't have to have another inspection done. This may just be a quick we call it a no site visit update, where it's just correspondence with the provider telling them, Hey, here's our new projects, here's our new account balance. Generate a new financial analysis for us based on that, it's going to be much quicker turnaround, much lower cost than what you pay for your comprehensive serves that you've already done well.

Robert Nordlund: 27:28

It seems like there's also this momentum factor that there was a lot of associations that were really liking living in their maybe sheltered little reality of not funding for ongoing deterioration, and maybe they just were holding out hope that it wasn't true, and with all the changes in legislation, maybe it was going to change back.

Will Simons: 27:53

Yeah. I mean, it has been a tough time for associations in Florida. Last several years, we've had several major hurricanes. The insurance premiums have gone up dramatically for a lot of a lot of properties. They are hurting financially in a couple of different ways. And these new reserve requirements for a lot of people have felt like somewhat of a punishment, or this, you know, kicking them when they're down. And it really is not that. I mean, the data that we've seen from the, you know, about 1000 SIRs that we've prepared is that the net average increase to the owners is, you know, 100, 200 bucks a month for most properties. This is not, you know, completely, you know, budget destruction day. No, it shouldn't be right. So it's uncomfortable. It might be difficult for some people. I don't want to, you know, say that there's not outlier buildings where they really are in a lot of trouble, but I would argue that that would have been the case either way. You know, in a world where the tower never collapses and these new funding requirements were never instant, you know, put in place, these buildings still would have had all the same projects that they now need to do, and they would have been in difficult financial circumstances either way. So I think this is done, is just to be illuminated a problem that was manifesting for a long time.

Robert Nordlund: 29:10

Yeah, well, I'm thinking back, didn't Champlain towers south? I'm thinking rough numbers here. Weren't they about to launch a $8 million special assessment or rehabilitation project divided by what 135 units, something like that. It was

Will Simons: 29:26

something like that. Yeah, the the dollar amount might have even more, I think it, I know it crept up a little bit by the time of the tower collapse. It was, you know, certainly millions of dollars. I know they were about to begin work, or had begun work on a roof project. So, you know, that's just part of the sadness of that story, is that they were trying to turn things around. They had obtained some money. They were, you know, pulling themselves up by their bootstraps, and just, you know, sadly, ran out of time, and it's just a terrible wake up call. But that, yeah, that was the financial reality. They were about a 40 year old property. That traditionally had not put enough money away and found themselves facing a bunch of big, expensive projects that were all kind of hitting at the same time. And

Robert Nordlund: 30:08

my thinking is, if that the way Chaplain tower South was, there's got to be 10s, if not hundreds, of other ones that are right up to that. And like you said, outlier properties, not necessarily all, but there's a lot of properties that got way behind with a lot of catch up projects to do, and it is going to be expensive for a number of associations, at least for a while. Hey, you also mentioned the word a milestone inspection. Can you tell people what you're talking about there?

Will Simons: 30:35

Yeah. So a milestone inspection is not required for all condo and Co Op properties. It's only for older properties. So typically, the first one would be due at 30 years. You know, that's kind of the state requirement, unless there is a local requirement that requires it sooner. You know, if their city or county may have a different timeline that's more restrictive, they'd have to abide by that. But typically it's first one would be due at the 30 year, you know, Mark of the the building, co date, and then every 10 years thereafter, and a milestone inspection must be done by an architect or an engineer. And it is, is more narrowly focused. It's, it's a specifically an inspection of the structure of the building. It starts with what's called a phase one inspection, which is just a visual inspection. If the inspector sees no signs of significant deterioration or nothing that is alarming. That's basically it. You know, they they pass. And, you know, if there's any repairs required, they would have to do those, and then they're good. And kind of, you know, get a 10 year bill of health there. If there is any substantial deterioration, it goes to a phase two, which is much more intense, that's, you know, going beyond a visual inspection using diagnostic methods, maybe, you know, tapping into concrete, you know, really kind of going beneath the surface to see what's wrong and then correcting it from there. So if a property has had that done within the last couple years, that's part of this new house bill 913, is they can also now pause their reserve funding contributions while they sort out the results of that milestone inspection. So if they had some immediate need for a major, you know, structural repairs or waterproof companies

Robert Nordlund: 32:17

here, or something like that, yeah, yeah, the

Will Simons: 32:20

state wants them to focus on correcting those issues first, and then resume your reserve funding, you know, as soon as you're able. But that's another example of kind of the financial flexibility that was built

Robert Nordlund: 32:32

into this one. I like that. And gets back to that starting point. Is it? It's all about safety, right? Well, Will? We? Could this? More and more about this, but it's been great talking with you and the time we have today for the show and having you on the program. Any closing thoughts to add at this time? No, I think we covered

Will Simons: 32:52

it pretty well. I mean, there's, there's going to be a lot more coverage of this bill. There already are quite a few webinars and bulletins. There's law firms that are providing their kind of cheat sheet summaries of it. So for people who want to learn more, we're going to be doing a webinar on July 15 where I'll speak for probably about an hour on this topic, taking questions from the audience. So by the time you hear this podcast, they may have already been completed, but we'll definitely record that make that available. So, yeah, I don't have anything else to add other than, uh, thanks to all who joined us today, and we hope you got some good information from this

Robert Nordlund: 33:28

fantastic Well, if you'd like to get in touch with will or our Florida regional office, you can learn more about their office and their staff@reserves.com and just want to let you know, we'll have a direct link in the show notes to that and to clarify, will your team prepares reserve sites all across Florida and adjacent states in the southeast?

Will Simons: 33:48

That's right, yeah, yeah, the majority of our teams in Florida, but we, yeah, we cover, you know, kind of the whole Gulf region. So I want

Robert Nordlund: 33:56

to get this program closed up so I can get you back to handling proposals and training your staff and taking care of reserves day. So to our audience, we hope you learned some HOA insights from our discussion today that helps you bring common sense to your common areas. We look forward to having you join us for another great episode next week.

Announcer: 34:18

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