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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


REBNY's Meeting - The State of the Manhattan Market

by Kijner & Sons International Realty




KSI Realty New York Inc.’s Broker and President, Marc-Henri J. Kijner, attended a panel discussion at the Real Estate Board of New York where top brokers and industry leaders discussed the state of the Manhattan market.

The 421 A program that was created by Mayor Bill De Blasio expired last January and experts composed of attorneys and industry leaders argued that due to the lack of tax incentives, developpers would most likely slow the development of affordable housing projects. Hence putting further emphasize on the hot market of the sub $3 million price range.

Resale units tend to stay on the market for less than a couple of days and buyers are competing even more to snatch their dream property. Higher cash reserves and better credit scores can certainly help strenghten the approval by the boards of both co-op and condominium buildings that prospective buyers are looking at.

New developments are generally not offering discounts but Attorney Steven Matz, one of the managing directors at Katz & Matz, expressed that they are seing more and more concessions on bigger deals such a free storage units being offered, upgrades given on fit and finish, or credit applied towards the transfer fees to attract buyers that are comparing with more affordable resale units, which tend to be larger but often in need of full gut renovation.

The conversation continued on the topic of rental market. Afterall, 70% of the real estate market in Manhattan is comprised of rental properties. Many brokers including myself, argued that June is the official kick-off month for the appartment hunt that thousand of new comers will engage in until late September.

There is no better time than now to find new rentals whereas landlords have updated, refurbished and repainted their units to attract as many quality tenants as possible. Using the help of a qualified and diligent licensed real estate salesperson can turn out to be an invaluable investment to help tenants snatch the best properties as soon as they hit the market. 



We at KSI Realty New York, believe that clients should sit down with our expert agents and discuss their needs. We help our valued customers pin point their area of interest based on their search criteria and finally draw potential property matches with the help of our online 
search tool.

During this panel discussion, we also talked about the emerging areas of Manhattan and everyone agreed that Harlem with Hamilton Heights was the most promising area. With beautiful browstone townhomes that can be up to 50% more affordable than their equivalents in the Upper West or East side of Manhattan, these products are a must buy! The extended subway lines on 2nd Avenue is also benefiting South Bronx and quality and affordable properties are also looking very promising for prospective investors.

For continuous update on the Manhattan market and lifestyle events about the city that never sleeps, please continue to follow us. For any questions, email us at nyc@kijner.com.

The 10 reasons why you should get renters insurance

by Kijner & Sons International Realty


 

While many tenants are busy figuring out which neighborhood to live in, the perfect school to enroll their children into, the right building amenities, and the best furniture to decorate their newly rented apartment or condo in the city, they often forget to protect themselves against rental incidents such as fires and burglaries.


A responsible and careful person should take into consideration that a number of unexpected life circumstances, accidents or potentially financially grave scenarios could occur.

KSI Realty New York Inc. highly recommends its tenants to consider speaking with a licensed insurance broker to learn more about the different policies that exist to protect them, their family and their belongings.

Here is a list of 10 reasons why you should get Renter’s Insurance:

1. Protect your wardrobe inclusive of any mishaps at the dry cleaner.

2. You accidentally run someone over while jogging, bicycling or roller blading and get sued.

3. The airline, train or bus company misplaced or lost your luggage and you may be eligible for compensation or emergency money. 

4. Frozen pipes that exploded during the winter and submerged your apartment or those of the person below.

5. You got burglarized at your home or while on vacation – you will be reimbursed up to a set limit for your laptop, jewelry and personal belongings (make sure to scan and store on cloud your receipts).

6. Your strollers, bicycle or grocery carts got stolen in front of your unit or your new TV/appliances fried due to a power surge.

7. Water incidents resulting from overflown dishwashers, bathtubs or clogged toilets will have you covered as well as your downstairs neighbors.

8. Too many appliances are plugged into an outlet and your breaker cannot prevent a fire, which rapidly spreads to your neighbors – you are covered. 

9. While your apartment is condemned due to fire, flood or total destruction; you are put at a hotel up to a certain limit while you search a new place to relocate.

10. Legal hotline and professional guidance in the event of an incident.

To recap, a few hundred dollars a year (usually a few extra dozen of dollars a month) can very well turn out to be the life saver that you have been looking for all this time.

Make sure to visit our Ancillary Network page and contact one of our select partners who will be happy to assist you with your Renter’s Insurance and other Insurance needs in New York!

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Source: blog repost from our New York site http://www.nyc2buy.com/blog/the-10-reasons-why-you-should-get-renters-insurance

8 Tips to Guide for Your Home Search

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to share with you 8 tips for our home search whether you want to buy in Sarasota or Miami Florida

1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.

2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.

4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.

6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.

8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment. 

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Source: The National Association of Realtors® (NAR)

Displaying blog entries 1-5 of 5

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