WASTING AWAY IN MARGARITAVILLE

By Darlys Walker

Published October 4, 2017  

 

So many residents of Florida are not native Floridians. According to Wikipedia, only 33% are native. So as I pondered Eric’s questions as to why so many owners are against funding reserves, a few possibilities occurred to me!            

  1. Is it possible that the majority of owners retired to Florida and don’t connect completely with the concept of Florida living and erratic Florida weather?

  2. Is it possible that with the average age of Floridians being 44.9 years old (according to Wikipedia) that they don’t think they will actually live up to see the expenditure of the reserves?

  3. Better yet, is it that the 67% of those who move to Florida come with the dream of sun, beach, and a laid back lifestyle and simply want to waste away in Margaritaville, without a care in the world?

It is a question that continues to baffle me every year as we go through budget preparation. As many of our readers know, my firm manages associations throughout the Southeast. In Georgia, Tennessee, South Carolina and North Carolina there are NO regulations that require any budgeting of reserves, absolutely none.  Yet each of these properties that we manage, and most others, budget a minimum amount of an amount equal to 10% of their annual operating expenses, as reserves and most have $400K-$2Mil for future repairs and expenses.

 

Is it possible that Florida owners vote not to fund reserves as an act of rebellion against an over regulated state, while states with no regulations happily contribute to reserve so they may avoid special assessments? Your guess is as good as mine!

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Darlys Walker, Founder and CEO of Condominium Concepts Management, Inc. (CCM), is recognized for her straight talk, subject matter expertise, and valued insights regarding real  

state management, leasing, and HOAs. Her company serves a diverse portfolio of properties, from 16-units up to 600 as well as large mixed-use developments.  

 

   From its beginnings in 2000, CCM has become a well-respected asset manager and now works with over 100 associations with 16,000 units served by over 300 employees. Darlys and her team deliver resources and responsiveness through six regional offices - in Orlando, Miami, Jacksonville, Charleston, Nashville and Atlanta.

  

   Darlys Walker is best known for her passion and precision, understanding that the only difference that matters in today's demanding marketplace is service delivery ... doing what is promised and what is right. She knows that every community serves two masters ... the property owner/developer and the resident/homeowner. "If we are not equally responsive to both, we are not doing our job," she states.  

 

   Her clients say it best: "Darlys really knows her stuff" ... "at the top of her profession and it shows in the caliber of her clients" ... "delivers quality resources that match up well with needs and expectations that are really rigorous."  

 

   She is a licensed Real Estate Broker in four states, holds an Associate's Degree in Marketing and has earned the Accredited Real Estate Manager designation from the Georgia Institute of Real Estate Management. Also she is one of few certified as a Lead-Based Paint Abatement & Removal Trainer in Georgia.

  

   Darlys Walker and her team have been selected to manage the condominium conversion process and day-to-day operations for many of the Southeast's most high-profile condominium communities including luxury high-rises, mid-rises and garden-style homes. Most recently she has been recognized as an expert in 're-versions' of communities from condominiums to leased homes, as well as repositioning projects. A visionary and a tireless perfectionist, Darlys demonstrates hands-on leadership, working individually with each client and staff associate to achieve defined business outcomes and satisfaction.  

  

  For more information about Darlys Walker and Condominium Concepts Management, Inc. please visit www.condominiumconcepts.com.

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