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RESIDENTS ARE INVITED TO ATTEND MEETINGS OF THE
BIHOA BOARD OF DIRECTORS
will be held on October 2, 2018
BIHOA SIGNS CONTRACT WITH ELS
Several hundred people were in attendance on April 26th to learn
the terms of a new, three-year contract between the HOA and ELS.
The new contract will go into effect January 1, 2017 and will expire
12-31-2019. During this period, rent increases will be governed by
the contract and are locked in at 4 per cent increases, not to exceed
For example, anyone paying $800 monthly in 2016, will pay $830
monthly during 2017, $860 monthly during 2018, and $890 monthly
during 2019. These figures do not include the pass-through property
Florida Law does not require ELS to negotiate a contract. Your HOA
felt it better to have something "locked in" rather than leave the rent
question up in the air with no controls.
The contract does not control rent concessions. ELS can offer
whatever concessions it chooses on ELS-owned properties that
it offers for sale.