Turnover refers to the time when a developer is no longer in control of an association they established to sell homes. At the National there is the
POA, the Golf Club and many condo associations created by the home builder Lennar. Within 90 days after the builder has closed on 90% of the homes within an association, members/owners of that association will elect their own board of directors. The newly elected board will then make all the decision related to running that association. The management companies, which is currently Tropical Isles for the condo associations, and Icon for the two National associations, will continue manage operations, unless replaced by the owner controlled board.
When turnover happens with a condo or homeowner association, the builder basically just hands the keys over to the new board, with no advanced transition steps taken. But for a master HOA, or in the case of the National Golf and Country Club with nearly 1,300 owners, and the National Golf Club with over 800 members, the turnover will be a well planned transaction.
Within a year or so of the approximate turnover date of the National associations, owners will begin to create separate Ad Hoc Turnover Committees for both the POA and Golf club associations. These will be volunteer committees created by interested owners looking to have a smooth turnover from Lennar. These committees could include:
- Finance
- Legal
- Insurance
- Building and Grounds
- Amenities and activities
- Food and Beverage operations
- Golf course maintenance
Lennar, the same as all large home builders, has set aside corporate funds in anticipation of correcting any construction defects. For the National, these reserves are likely substantial. Unresolve disputes between builders and owners will require legal action, and does happens in large developments.
Construction defects may be evident at the time of turnover, immediately after or may not surface for many years later. Lennar's goal will be to minimize payouts for defect claims, while the members goal will be to receive what they believe are rightfully due.
