- Joined
- Mar 9, 2014
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- 4,203
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- Location
- Novi, Michigan
- Resorts Owned
- QH, HBC, VBHC, & Pinestead Reef
All,
For those owners that do not receive email communication from Hyatt --- I wanted to post the email I just received in reference to Hyatt Beach House. It's listed below
For those owners that do not receive email communication from Hyatt --- I wanted to post the email I just received in reference to Hyatt Beach House. It's listed below
Good day Owners, As you may already be aware, in May 2022, the state of Florida passed Senate Bill 4D, as well as passing Senate Bill 154 in June 2023, and most recently passed House Bill 1021, which all have elements as to structural inspections and reserve funding requirements for condominiums (together, the "Legislation"). In response to this Legislation, in late 2022, we began working with your Board of Directors to understand the effect of this new Legislation on your association. We would like to share an update with you as the management company and your Board of Directors collectively navigate the new requirements that have been mandated by the state of Florida. The Legislation has two primary components: (1) Milestone Inspection, and (2) Structural Integrity Reserve Study ("SIRS"). For reference, a high-level overview of both components is presented below for your convenience, but please note that this is not intended as legal advice and should not take the place of your own review of the Legislation. |
Milestone Inspection:This is the requirement of a structural inspection of a building, including an inspection of load-bearing walls, the primary structural members, and primary structural systems for the purposes of (a) attesting to the life safety and adequacy of the structural components of the building and, (b) to the extent reasonably possible, determining the general structural condition of the building as it affects the safety of the building.
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To satisfy the requirements under the Legislation, your Board of Directors authorized the management company to engage a third-party consultant to complete the required inspections and studies. As required by the state of Florida, to request a copy for the SIRS for your association, please e-mail the association inbox at hvobeachhouse.association@vacationclub.com. Please allow 3-5 business days for response. It is important to understand that the SIRS which has been sealed by the consultant is a snapshot in time of the inspection of the building. While the Legislation continues to evolve, and state and/or local building departments may adopt new regulations imposing new or additional requirements, we will continue to work with your Board of Directors to stay in compliance with the Legislation and keep informed about any impact on the association’s annual reserve funding. Sincerely, HV Global Management Corporation cc: Board of Directors |