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Ask about flexible payment programs: If your income includes irregular earnings or commissions, you may want to inquire about ways to pay HOA fees outside of a monthly cadence. “Some ...
Condo owners must begin reserve contributions in 2025 or 2026. Monthly condo assessment fees jumped by nearly 60% over the past five years in South Florida. Then there are the special assessments ...
Homeowners, particularly condominium owners and homes affiliated with a homeowners association, may face monthly maintenance fees that double or triple due to increased insurance costs, ” she ...
Others spoke of owners who can't keep up with high monthly maintenance fees and special assessments needed to cover the rising cost of insurance and therefore risk losing their long-time homes.
The remaining 21.3% of home insurance policies were covered by renter's or condominium insurance. 14.8% of these had the HO-4 Contents Broad form, also known as renters' insurance, which covers the contents of an apartment not specifically covered in the blanket policy written for the complex. [13]
The Condominium Act requires every association to carry an insurance policy to cover the full replacement value of all structures on the property.
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