Liability Insurance Quotes – How to Find A Cost-Effective …
… the arrange of skill (duplex, singular family home, condominium, etc.), as good as if before guilt claims or incidents. Product guilt word is an additional arrange of open guilt insurance. Product guilt word provides word opposite … read more…
Insurance: Types of Insurance
Consider also buying liability insurance which covers you if someone sustains an injury or other loss on your property. Renters and condominium owners need only contents and possibly liability insurance. Many companies have policies … read more…
Do I need Insurance for my Condo? « www.hobokenrealestateblog.com
Owners of condominium units receive building or structural insurance 80000 coverage from the association’s master insurance policy, but there may be many gaps of coverage. The insurance industry has responded to these gaps with the … read more…
From Google Blog Search
Preparing for a Loan Modification
Homeowners worried about missing mortgage payments and entering foreclosure may have another option: a loan modification.
Despite some signs of stability in the housing market, foreclosures remai… read more…
Remove a Second Home Loan
Homeowners worried about missing mortgage payments and entering foreclosure may have another option: a loan modification.
Despite some signs of stability in the housing market, foreclosures remai… read more…
The Overlooked Home Improvement – Fire Sprinklers
During large scale home improvement projects often the most critical and overlooked addition to a home, condominium or town home is the installation of fire sprinklers.
read more…
From GoArticles.com
QBE Insurance has been dropping windstorm coverage (Miami Herald)
Since the highly active hurricane seasons of 2004 and 2005, QBE Insurance has been sidestepping hurricane risk as it writes policies for condominium associations in Florida. read more…
Is there a conflict of interest? (Miami Herald)
Q: Is it ok for a condominium board member to run a business taking care of a significant number of condominium units and the vehicles the owners leave behind during the summer? This board member also receives 10 percent from most small contractors who do work for condominium members. The other board members are becoming aware of this business he runs but maybe are afraid to address this, … read more…
Asian Stocks Climb on Commodity Prices, U.S. Housing Starts (Bloomberg)
July 20 (Bloomberg) — Asian stocks advanced, lifting a regional benchmark index to a 10-month high, after oil and metal prices gained and U.S. housing starts unexpectedly rose. read more…
Resolved Question: Is there a Generally Accepted Accounting Principle (GAAP) that mandates audits NOT be performed by INSIDERS?
The books being audited are for a Homeowners Association which is governed by state condominium law. The state condominium law mandates that audits be performed annually ACCORDING TO GAAP.
One Homeowner is the Treasurer. They got another homeowner (who is not a CPA and may have little to no financial training) to do an “audit” on the Treasurer’s books for the HOA.
This would be similar to one employee of a company being called upon to audit the financial work of another employee managing the company’s books, or an “internal audit”. The company may or may not be called upon to have an external audit, depending on how they are organized as a private or public company.
The HOA is not a public company but is governed by state law calling for audits according to GAAP.
Isn’t there a GAAP rule that requires audits to be performed by disinterested 3rd parties in an “arm’s length transaction” so as to avoid insider collusion or dealing?
The homeowner doing the “audit” in this situation has an incentive to not cite the Treasurer on any wrongdoing if the wrongdoing did not personally damage the “homeowner auditor”. This is because if there was a lawsuit over the damages caused by the Treasurer’s mistakes by incompetence, fraud or malfeasance,, there would have to be additional expenses to the Homeowners Association for counsel or even a deductible to be paid to the insurance company for the Officer’s Liability Insurance under a claim to protect the HOA from further damages — all of which the “auditing homeowner” would have to share in to pay for as a fellow homeowner.
What does GAAP have to say about insiders performing audits when compliance with state regulations are at issue? Which rule of GAAP would this be?
Extra points for reciting Chapter & Verse of the GAAP rule and any links to the specific website of reference. Thank you!
Voting Question: Tenant in a Auto Accident, why owner responsible for tenant to drive?
I have a tenant renting my condominium that has home owners association and one of my tenant was involved in a auto accident in the complex area. Home owner’s association says ‘as a owner liability for the damage that costed an auto accident of my tenant was at faul, does that make sense? I told them I cannot insure anyone of my tenant to drive and by state they have to go after the driver’s insurance, How can they come after the owner? Can somebody have a suggestion?
Voting Question: Getting out of lease early from an uninhabitable apartment?
I am looking for some advice on how to get out of a lease that is due to expire in the middle of July due to uninhabitable conditions.
The apartment that I am referring to is in a 22 unit condominium complex where individuals own the apartment and the outside is taken care of by a condo association.
There have been 2 floods in the past 6 months. The first flood directly affected my apartment and was without carpet for 2 months and a hole in the ceiling for one month. Apparently, work was being done on the roof and a windstorm opened it up. The landlord was diligent in getting it fixed but the amount of time it took to fix was frustrating due to insurance red tape.
The most recent Incdent(and the reason why I think we can get out) took place on Monday night. The roof opened up again on the opposite side of the complex, this time much worse. It damaged fire equipment in the common areas and they had to cut power. We have not been able to go back since then even though our unit is 100% fine. In the landlord’s defense, he is putting us up in a hotel for the next 2 nights but he is not the one who has no idea where they are going next wek. We also have no idea when we can go back, sounds like it will be over a week.
He is a really nice guy, but there has been several problems so far and we want out immediately. I plan to draft a letter but was wondering if anyone has had any experience when dealing with an uninhabitable apartment. Thanks
We can’t get back in because there was damage to the fire system in the common areas by water. They also had to cut power in the building so the building inspector has barred access for everyone. I agree with what you are saying about the past and no physical damage to our place, but we are still barred from the apartment by the city? Is this still not enough to get out?
Also more details, this happened on Monday night 4/20 and I got a call last night from the red cross saying that it could be days before the power is turned back on….
Condo residents in yearslong battle with insurer over hurricane repairs
Posted by petrbuben via MiamiHerald.com: Today’s Top Stories
Condo residents in yearslong battle with insurer over hurricane repairs
Posted by petrbuben via MiamiHerald.com: Today’s Top Stories
Condo residents in yearslong battle with QBE Insurance over hurricane repairs
Posted by petrbuben via MiamiHerald.com: 5-Minute Herald
Condo residents in yearslong battle with QBE Insurance over hurricane repairs
Posted by petrbuben via MiamiHerald.com: 5-Minute Herald
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Insurance home condominium http://tinyurl.com/l39u6y
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