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A $21 million special assessment fee has outraged residents of two 16-year-old buildings at 1060 Brickell in Miami, Florida, with some unit owners facing individual bills exceeding $40,000. Don't miss
Per the new Florida law, all three-story-plus condo buildings and at least 30 years old must undergo a mandatory engineering assessment before Dec. 31, 2024. Condo associations must also shore up ...
Realtor.com reports that HOA dues are more common for condos, with HOA fees levied on 83.8% of condos for sale in 2024 compared to 33.6% of single-family homes. HOA fees on condos are also higher ...
'This problem is not going away': An entire Florida homeowners association board just quit after $60K special assessment dispute — here's why Serah Louis July 8, 2024 at 6:08 AM
Today, he pays $340 a month for a special assessment and $897 a month for monthly condo HOA fees. Starting in January, the association expects him to contribute another $731 a month toward reserves.
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 ...
New condo fees can be a big problem by themselves, but the situation is made worse by other high living costs. Home insurance prices in Florida, for example, are among the highest in the nation.
Then he was hit with an assessment of $224,000. Condominium owners share ownership of the common areas in their communities and are therefore subject to assessments, which are their share of ...