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Some condo owners facing whopping special assessment fees may have no option but to sell their unit — especially retirees on fixed incomes, or younger Americans who used all their savings to buy ...
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
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 ...
In November 2024, residents of the Rockland Run condominium community, of 241 units, in Baltimore County, shared their concerns with The Baltimore Banner about rising costs, including a 15% raise in dues and a "$250,000 special assessment" that has to be split among residents, and noted that one resident asked the Maryland Office of the ...
The Cricket Club’s condo board recently proposed a nearly $30 million special assessment for repairs, like roof replacement and facade waterproofing — coming to more than $134,000 per unit owner.
Key takeaways. Increases in homeowners-insurance costs mean that homeowners association fees are on the rise as well. Homeowners may face large one-time special assessments in addition to ...
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