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New Changes to the Florida Condominium Act

by Kijner & Sons International Realty




On July 1, 2017 several new amendements to chapter 718 of the Florida Condominium Act went into effect. Here is what you need to know if you are looking to rent or buy a condo in the Sunshine State.

  • A unit renter has the right to inspect and receive a copy of the association’s by-laws and rules.
  • The association must issue an estoppel certificate (letter) within 10 business days of receipt of a written electronic request for said certificate.
  • If the estoppel certificate is not delivered within 10 business days from request, no fee may be charged for the preparation and delivery of said estoppel certificate.
  • The estoppel certificate if hand-delivered or sent electronically must be valid for 30 days; and 35 days if sent by regular mail.
  • The fee is limited to up to $250.00. However, for an expedited request to be delivered within 3 business days, the association may charge an additional $150.00. Furthermore, if the owner is delinquent on the payments, the association may charge an additional $150.00.
  • All condominium estoppel certificate must contain the following:
    • Specific assessment information
    • An itemized list of all assessments
    • Regular periodic assessment and frequency
    • Assessments and other moneys to become due
    • If there is a capital contribution fee and the amount
    • Resale fee or any other fee and the amount
    • If there is a right of first refusal to the association or to its members
    • Contact information for all insurances maintained by the association
  • Board of director members are limited to a maximum term of 8 years.
  • Denial of condo documents may be cause for a felony charge.
  • Associations with 150 or more units must post digital copies of the condo documents on its website as of July 1, 2018.

Effective July 1, 2017, Condo Associations and Homeowners Associations will have a limit on the amount they will be able to charge homeowners for an Estoppel Certificate (estoppel letter). The cap is as follows:

  • For Homeowners who are current in their assessments: $250.00
  • For expedited services, to be delivered within 3 days from request: $100.00 extra
  • For Homeowners who are delinquent in their payments: $150.00 extra

This bill also requires certificates to be valid for 30 days if delivered electronically, and 35 days if delivered by mail. This uniformed fee will facilitate accuracy for closing agents when preparing closing estimates for sellers.

If you are looking to rent or buy a condo in Miami Florida, contact us today at info@kijner.com.

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Source: Fortune International Realty

KSI Realty NYC Renter's Guide

by Kijner & Sons International Realty

Kijner & Sons International Realty is thrilled to share with you its New York City Renter's Guide. If you have ever wanted to navigate with ease the maze that is New York City's rental market, this illustrated guide is right for you!

Whether you are from New York yourself or a recent transplant, you will learn some of the most common local leasing terms, know what to expect when putting an application in and how to be fully prepared when looking for your next home in Manhattan. We make the leasing process easy, convenient and fun for you! Contact us now to get you started on your next NYC apartment search.

We have thousands of listings for rent all over the city whatever your budget or needs are. We look forward to assisting you!

Click here to view our latest properties for rent in New York City. For any inquiries, contact us today at nyc@kijner.com or schedule your private consultation at our conveniently located Midtown East office.

Click here to download your KSI Realty NYC Renter's Guide


The Difference Between a Condominium and a Cooperative

by Kijner & Sons International Realty





Many people looking to buy a property in New York City are often debating between investing in a condominium or a cooperative. But what is the difference? Before choosing one over the other, let's review their definition, your ownership rights and what every buyer should know before acquiring such properties.

What is a condominium

A condominium is a real property transaction where ownership rights are fee simple, that is, the broadest form of ownership available. You are allowed to you to use and possess your property and you may own your condo in any form you wish (in severalty, as joint tenancy, as tenants in commons or tenants by the entirety).

With a condominium you own real estate - the space inside the unit - and you share in the ownership of the common elements such as the swimming pool, the walkways or the garage. As such, you will receive a deed to your unit that will include an undivided interest in the common areas. You can learn more about your rights in the condominium bylaws. Subletting is possible with some restrictions depending on the condominium building.

What is a cooperative or co-op?

With a co-op, you own share in a cooperative's corporation, which is not real property but personal property. Since you do not own any real estate, you do not have fee simple ownership rights. You own shares which reflect equity in the corporation and instead of a deed, you will receive a proprietary lease and stock certificates.

A cooperative is a not-for-profit corporation, a joint venture with its shareholders, formed for their benefit and governed by them. As such, the cooperative is the one owning the land, the building and all rights and interests. In short, you have a right to occupy your unit and use the common areas and facilities. And of course, unlike with buying a condo unit, we will need to submit a thorough application known as a board package that is unique to each co-op. This package will be reviewed, approved or denied by the co-op board based on a variety of personal and financial documents including but not limited to your purchase application, a contract of sale, employer and personal reference letters, your income tax returns, a financial statement listing assets and liabilities...Finally, subletting is much more restricted and is some occasions, not allowed.  

What is a Condop?

Some of you might have heard of a hybrid between a condominium and a cooperative known as Condops? What is it you ask? 

A condop is a mix-used building where the residential portion (co-op) is separate from the commercial component (condo). This form of property is appealing to many developers or sellers for tax reasons. They retain ownership of the non-residential space in the building that they use for commercial purpose. In a condop, a buyer will receive co-op corporation share and a proprietary lease. Condops are usually based on the 80/20 rule where 80% of the building is used for residential purpose and the remaining 20%, for commercial purpose.

Do you have additional questions? Are you looking to buy a condominium or a cooperative unit in New York City? Contact our Manhattan office today at nyc@kijner.com

Where are global buyers searching in the United States?

by Kijner & Sons International Realty



Kijner & Sons International Realty
 is pleased to annonce that according to recent statistics and reports from the National Association of Realtors® as of 12 December 2014, Florida is one of the most sought-after real estate markets for international homebuyers and investors worldwide.

Miami ranked 3rd, Orlando 4th and Fort Lauderdale 6th among the top ten most searched U.S. cities by non U.S. consumers looking to buy a home in Florida

The top most attractive real estate markets and U.S. cities for foreign homebuyers are as follow:

  1. Canada: Los Angeles, Fort Lauderdale, New York, Las Vegas, Miami
  2. United Kingdom: Los Angeles, New York, Orlando, Miami, Beverly Hills
  3. Australia: Los Angeles, New York, Las Vegas, Detroit, Beverly Hills
  4. Brazil: Miami, Orlando, New York, Los Angeles, Miami
  5. Germany: Los Angeles, New York, Miami, Colorado Springs, San Antonio
  6. Mexico: San Diego, San Antonio, Houston, Miami, Los Angeles
  7. France: Los Angeles, Miami, New York, Miami Beach, Las Vegas
  8. India: New York, Los Angeles, Las Vegas, San Jose, Chicago
  9. Italy: New York, Miami, Miami Beach, Los Angeles, Detroit
  10. Russian Federation: Los Angeles, New York, Miami, San Francisco, Chicago
  11. Netherlands: Los Angeles, New York, Miami, Orlando, Las Vegas
  12. Spain: Miami, New York, Los Angeles, Fayetteville (GA), Mcdonough (GA)
  13. Turkey: New York, Los Angeles, Miami, Chicago, Houston
  14. Sweden: Los Angeles, New York, Beverly Hills, Fort Lauderdale
  15. Japan: San Diego, Los Angeles, Honolulu, Jacksonville, Las Vegas
  16. Korea: Los Angeles, New York, Irvine, San Antonio, Las Vegas
  17. Switzerland: Miami, New York, Los Angeles, Miami Beach, Naples
  18. Ireland: New York, Los Angeles, Miami, Orlando, Beverly Hills
  19. Philippines: Los Angeles, Las Vegas, New York, Houston, Denver
  20. South Africa: New York, Los Angeles, Miami, Beverly Hills, Atlanta

Looking to invest in Miami or buy a home or condo in Miami Beach? KSI Realty can help! Contact us today at info@kijner.com

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Sources: Realtor.org Omniture Discover - December 2014

Buying a home during the holiday season

by Kijner & Sons International Realty


Although home buying is generally not people's primary focus during the holiday season, it might actually turn out as a great time if you are on the market for a new house. Whether you wish to relocate to or invest in South Florida, you won't need to slow down your search for the perfect Miami home.   

Let's see some of the advantages of buying a Florida property during these festive months:

1) It's always sunny in Florida: you won't have to cancel your open house because of bad weather conditions. No need to shovel or prep your car for the snow. Just ask anyone from snowbirds to overseas visitors, Winter is probably one of the nicest seasons to enjoy Florida and shop for a house in Miami. 

2) Less competition: let's face it, between shopping for the perfect Christmas gifts, decorating the house, entertaining friends and family or planning your upcoming Winter holidays, fewer people are looking for a house this time of the year. You will thus have more chances to plan and visit properties and snatch your dream house.

3) Motivated sellers: sure home prices in South Florida and Miami have increased in 2014, but generally speaking, people putting their house for sale during the holiday season have a good reason to do so. They are highly motivated to sale and since there are less potential homebuyers looking, they might be more willing to negotiate. 

4) Motivated lenders: again, this is not the busiest season for closings, so lenders might approve you faster. 

5) Better interest rates and possible tax cut with an early mortgage payment: we are currently in a buyer's market with lower interest rates. This is definitely a great time to consider buying a home in beautiful Miami, Florida. In addition, since mortgage payments are made for the month prior, homeowners paying their January mortgage payment early - before end
of December - could benefit from a tax deduction for the upcoming year*.

If you are looking for your next Miami House, Miami Condo or Miami real estate investment opportunity, KSI Realty can help! Contact us today at info@kijner.com

Search now for Miami properties available for rent or for sale by clicking here

Register now to our free and easy email alerts and get your tailored listings daily in your mailbox by clicking here

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*For more information on mortgage payments, possible tax deductions and/or fiscal benefits, please see
 a licensed professional such as certified public accountant or mortgage broker.

Buying a Home in North Miami and North Miami Beach, Florida

by Kijner & Sons International Realty

 


Kijner & Sons International Realty
 is happy to offer you the best properties and investment opportunities in North Miami and North Miami Beach, Florida whether you are looking to buy or rent a house, a villa, a condo or an apartment within Miami-Dade County.

Although extremely close, North Miami and North Miami Beach are two distinct cities. North Miami and North Miami Beach are both located west of Aventura, Sunny Isles Beach and Bay Harbour Islands. They are home to three major universities, namely the Florida International University and the Johnson & Wales University in North Miami and Nova Southeastern University Miami Campus in North Miami Beach.

To learn more about the cities of North Miami and North Miami Beach, Florida and search for North Miami and North Miami Beach listings, click here.

Questions, comments? Contact KSI Realty at info@kijner.com

Buying a Home in Bal Harbour and Surfside, Florida

by Kijner & Sons International Realty

 


Kijner & Sons International Realty
 is happy to offer you the best properties and investment opportunities in Bal Harbour and Surfside, Florida whether you are looking to buy or rent a house, a villa, a condo or an apartment just 25 minutes away from glitzy South Beach.

Located at the very northern tip of Miami Beach, Bal Harbour is one of Miami's wealthiest neighborhoods, home to the famous Bal Harbour open-air high-end shopping mall, while Surfside - which is part of "Miami and the Beaches" area - is a peaceful family-oriented beach town offering various resort and leisure facilities to visitors and locals alike.

To learn more about the cities of Bal Harbour and Surfside, Florida and search for Bal Harbour and Surfside listings, click here.

Questions, comments? Contact KSI Realty at info@kijner.com

  

Buying a Home in Midtown Miami Florida

by Kijner & Sons International Realty





Kijner & Sons International Realty
 is happy to offer you the best properties and investment opportunities in Midtown whether you are looking to buy or rent a house, a villa, a condo or an apartment in Miami's 
very own urban, artsy and newest residential district!

Midtown encompasses three popular and upcoming neighborhoods in the heart of Miami that are Edgewaters, 
The Wynwood Arts District and The Design District.

Edgewaters is a residential neighborhood comprising of both mid-rise to high-rise constructions, many facing the Biscayne Bay. The Wynwood Arts District showcases numerous art galeries, antique shops, performing art spaces as well as trendy cafés, restaurants and shops.

Home to the renowned Miami Art Basel, an annual international art fair held every December and featuring some of the world's best modern and contemporary art pieces from paintings to sculptures, drawings, photographs, installations and films, Midtown truly plays a major cultural role in Miami's status as an iconic and leading North American city.

To learn more about artsy Midtown, Miami, Florida and search for Midtown listings, click here.

Questions, comments? Contact KSI Realty at info@kijner.com

Buying a Home in South Beach Florida

by Kijner & Sons International Realty





Kijner & Sons International Realty is happy to offer you the best properties and investment opportunities in South Beach, Florida whether you are looking to buy or rent a house, a villa, a condo or an apartment in "SoBe", Miami's main touristic neighborhood and entertainement destination where parties, hype hotels and restaurants draw thousands of people every day and night of the year.

Did you know Lincoln Road is a pedestrian-only promenade host to a farmers market every Sunday from 9 am to 6:30 pm? Residents and international visitors from Europe, Canada, Israel and South America alike can enjoy some of the city's finest and trendiest shops and restaurants. Also known as the American Riveria, South Beach offers a beautiful public beach and a one of a kind nightlife experience.

To learn more about trendy South Beach, Florida and search for South Beach listings, click here.

Questions, comments? Contact KSI Realty at info@kijner.com

Buying a Home in Brickell Florida

by Kijner & Sons International Realty




Kijner & Sons International Realty
 is happy to offer you the best properties and investment opportunities in Brickell, Florida whether you are looking to buy or rent a house, a villa, a condo or an apartment in downtown Miami and South Florida's main financial and business district.

Brickell is where you will find most of the state's foreign consulates and some of Miami's newest residential projects. These projects attract many international investors looking to buy a prime condo or apartment in Miami with a gorgeous ocean view of the Biscayne Bay.

Known for its unique skyscrapers, which define the city's impressive skyline, Brickell is one of Miami's fastest growing and most populated neighborhoods. Home to the famous Millionaire Row where some of the world's celebrities reside, it has become over the last decade a popular hot spot among students from the University of Miami, expats and the financial and banking crowd. They can be found at Brickell's latest trendy bars, clubs and unique luxury waterfront hotel & residences such as "Brickell Icon" designed by renowned French architect and designer Philippe Starck.

To learn more about vibrant Brickell, Florida and search for Brickell listings, click here.

Questions, comments? Contact KSI Realty at info@kijner.com

Displaying blog entries 1-10 of 14

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