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Dear unit owners;

The budget meeting will take place on November 23, 2022 via zoom, notice was sent by mail to all.

We would like to remind you that while the board of directors does not intend to increase the maintenance fee this year, It is important to mention that if we do not receive sufficient votes (51%) to waive the reserves, the budget will be approved with reserves resulting in an automatic increase. Please note that waiving the reserve it is not a board decision, it requires voting from the majority of the unit owners. This notice is being sent with sufficient time to allow all owners to submit their respective proxy. If by the meeting date, sufficient  votes are not received to waive the reserve, the board will approve the budget with full reserves. 

Please review the  proxy, make your selections and send it back to our office via email to [email protected]

CLICK THE LINK BELOW FOR A COPY OF THE PROXY

https://www.doralgardenscondo.com/file/document-page/4086088501/Vfh9vEZwAVph44a7.pdf

We take this time to also inform our residents that there has been major changes with regards to reserve funding for all condominium in the state of Florida. On May 26,2022 a new bill was signed by the governor. These new changes includes the following: 

  • Reserve study every 10 years to determine the amount of reserve required. 
  • Required reserve funding for structural integrity components based on the reserve study.
  • Removal of the right of condominium association to waive the funding of reserves for structural integrity components. This means that beginning December 31, 2024, all condominiums will be prohibited from waiving the reserve requirements for items listed in the structural integrity reserve study. 
  • Mandatory transparency—providing all owners and residents access to building safety information.

Should you have any questions or concerns regarding the above information, feel free to contact us.

Exclusive Property Management Group.
175 Fontainebleau Blvd Suite 2G1
Miami, FL 33172
PH: 786-577-2976