Broward condo owners face soaring repair costs after inspections

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WPLG Local 10

WPLG Local 10

Күн бұрын

Пікірлер: 317
@edg8535
@edg8535 Күн бұрын
So, we have multistory buildings built along the Atlantic and Gulf and have been exposed to salt from the water. Over 40 years they have basically just painted. What else would you expect.
@UncleDavesKitchen
@UncleDavesKitchen Күн бұрын
Why should the government bail out condo owners? They bought into a dream, didn't follow up with repairs or maintenance now it's falling down.
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
They bailed out the big banks...might as well bail them folks out
@davidmccarthy5246
@davidmccarthy5246 Күн бұрын
Condo associations in Florida have been kicking the can down the road for years and years. What did you expect?!
@tomcox22
@tomcox22 Күн бұрын
The Feds are doing the exact same thing with the national debt- and now there is no answer for it
@SnootchieBootchies
@SnootchieBootchies 8 сағат бұрын
Exactly. This is the result when you are not sufficiently woke about the cost of deregulation. Florida elected officials think "red tape" is a bad word but there are reasons why rules and regulations was put there in the first place, so you can avoid tragedies like the Surfside condo collapse.
@danthompson6067
@danthompson6067 2 күн бұрын
The money issue here relates to the desire to minimize monthly HOA dues. The result of holding fees to an unrealistic low amount is the cause for delayed building maintenance. Now said delayed maintenance is coming home to roost.
@jamesmooney8933
@jamesmooney8933 Күн бұрын
Or HOA took profits before maintance.
@jamestreanor182
@jamestreanor182 Күн бұрын
@@jamesmooney8933HOA doesn’t have profits
@ADRAPropertyManagementInc-d2g
@ADRAPropertyManagementInc-d2g Күн бұрын
This constitutes board neglect. The board has a fiduciary responsibility to properly prepare a budget that covers the anticipated cost for the continued upkeep of the association property. For managers and those vendors involved in the managing of association property, the lack of attentive care is frustrating.
@jamesmooney8933
@jamesmooney8933 19 сағат бұрын
@ADRAPropertyManagementInc-d2g You give a fancy description of HOA. In simplistic terms. HOA is given so much power over residents of the HOA, that corruption will follow.
@patentexperts1675
@patentexperts1675 2 күн бұрын
I'm a single family home owner. In the last five years; new hot water tank, new AC unit, new roof, new windows, three support beams replaced and of course the everyday maintenance. Welcome to the club Condo Owners!
@mrjonathank92
@mrjonathank92 2 күн бұрын
@@patentexperts1675 you don’t get it! They started paying $200 back in ‘85 and they don’t want it to increase one cent more!
@texasboy5117
@texasboy5117 Күн бұрын
We dropped just around $13,000 on our single family home last year. We know we will need to replace two AC units in the near future. This will be about $14,000.
@steveconkey7362
@steveconkey7362 19 сағат бұрын
$60,000 for a new tile roof here in Venice.
@NoLeakz
@NoLeakz 2 күн бұрын
The can has officially reached the end of the road…
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
It got a lil more road to go
@michaelseibold9977
@michaelseibold9977 Күн бұрын
Don't you love it when people demand "gummint hep" when their condos were never properly inspected, competent reserve studies completed and adequate condo dues established? These are structures built in a maritime environment that is akin to what happens to a boat: corrosion to the rebar, wasting of concrete and damage to footings. Sorry, I really don't feel all that sorry for these folks. The regulations are correct.
@Dan_the_mn
@Dan_the_mn Күн бұрын
And they voted for trump and president musk
@michaelseibold9977
@michaelseibold9977 Күн бұрын
@@Dan_the_mn 🤣
@paulskopic5844
@paulskopic5844 Күн бұрын
@@Dan_the_mn TDS?
@Dan_the_mn
@Dan_the_mn Күн бұрын
@@paulskopic5844 not sure what that means. Are u feeling guilty ?
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
Only help I want from the gubmint is food stamps and Medicaid
@vulcan2882
@vulcan2882 2 күн бұрын
I have a friend who lived around the corner from there, he said all the buildings in that area are an accident waiting to happen. That's was the main reason he moved off the island.
@diegoflores9237
@diegoflores9237 2 күн бұрын
This happens to single family homeowners too. They barely maintain the property and the issues pile up
@LiamChris-x4h
@LiamChris-x4h Күн бұрын
Happy new year 🎊, I only share this with good intentions. Greetings to everyone and a cool video. my biggest concern is how we are going to survive all these financial and political crises. The government has really made things difficult for its citizens and we cannot just sit by and suffer the consequences of bad governance🙏… I want to start investing, but l'm unsure where to start because of the resent dump and bull. Do you have any advice or contacts for assistance?
@RessFewer
@RessFewer Күн бұрын
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just going into crypto investment, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So l really don't blame people who panic.
@CruiseFadi
@CruiseFadi Күн бұрын
It is wise to seek professional guidance when building a strong financial due to its complexity
@MotesoPhilip
@MotesoPhilip Күн бұрын
Talking to an expert like Noahavamia to reshape your portfolio is a very smart move
@TramRescue
@TramRescue Күн бұрын
🙏 *12k to 407k is significant increase. My first copytrade wasn't profitable. Please share who you copy trade*
@AmeliaCharlotte-u6c
@AmeliaCharlotte-u6c Күн бұрын
SHE’S MOSTLY ON TELEGRAM APPS WITH BELOW NAME
@HairHoFla
@HairHoFla 2 күн бұрын
When the sales person says "stucco" make sure it not you they're referring to
@hammertyme8392
@hammertyme8392 Күн бұрын
🤣🤣🤣
@boby115
@boby115 Күн бұрын
@@hammertyme8392 and you become the stucce
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
Lol y'all cuttin up on this internet 😂😂😂😂
@diegoflores9237
@diegoflores9237 2 күн бұрын
This doesn't just happen to condo owners. It also happens to owners single family homes too. They don't do the required maintenance and it piles up
@davidwright873
@davidwright873 Күн бұрын
So whose responsible for the day to day? or do they just collect your money and be on their way?
@diegoflores9237
@diegoflores9237 Күн бұрын
@davidwright873 the condo owners are ultimately responsible. They own their condo so it's their responsibility to be on top of things. Meaning they need to check on the condo association. Many condo owners just pay their hoa dues but never give any attention to how it's spent or what maintenance a property might need.
@neilkurzman4907
@neilkurzman4907 Күн бұрын
@@davidwright873 see you seem to forget that the people who own the units have a say in how much is spent on maintenance. And a lot of these places decided not to spend money on maintenance. Low common charges equals high resale prices
@davidwright873
@davidwright873 Күн бұрын
@@neilkurzman4907 dude I didn't forget anything....I get the big picture...Im wondering as i said, do they just collect the money and pocket it? where do dues actually go? Or fees...whatever you wanna call em....It should be a big pot somewhere that has built up over time....
@pamelacox540
@pamelacox540 12 сағат бұрын
True. And more maintenance is required if you’re close to salt water.
@ChuckStewart-q3z
@ChuckStewart-q3z 2 күн бұрын
Sooo glad decades ago we bought actual land.Started with a small house. Any improvements, additions were on us.
@kirk1618
@kirk1618 Күн бұрын
Why should taxpayers be on the hook for deferred maintenance, corrupt condo boards, etc? This is private property that decisions were made. People buy into these condos for less expensive living. For not having to do maintenance on their own. The structure is a co-op. If the group elects to defer the maintenance, so be it. We all know that deferring maintenance never makes the problem go away. The issues only compound and the costs increase exponentially. If the condo board mis- manages, steals, or whatever, who's on the hook? The owners are! The owners, not taxpayers. I own my house. I do my maintenance. I keep up on issues. It really hurts the wallet for those unexpected issues, but that's life. We are all responsible for our decisions. A condo/ townhouse has never made financial sense to me, in my situation. Back in the 80s and 90s, I remember all the sales pitches. How much better and cheaper life is in a condo. Buildings don't last forever, none of them. Build on the sand (wasn't there some advice in the Bible about building on sand), covering issues with stucco and paint? What could go wrong? Got a nice pool though. Sorry some of these people are getting ripped off by others before them, but I will never see where the taxpayer holds any responsibility to make any of this right. Sometimes you gamble and you win, sometimes you don't. But it's never my responsibility to pay back your bad debt.
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
Well said and yes Jesus warned about building on sand...we can apply that both literally and spiritually
@isocarboxazid
@isocarboxazid 15 сағат бұрын
@@TommyTomTompkins What relevance does a long-dead middle eastern guy have with this?
@karenc8773
@karenc8773 2 күн бұрын
Not doing cyclic maintenance on buildings has the same disastrous effect as foregoing maintenance on bridges. Expecting residents (ie, HOA) to know anything about bldg maintenance is a tall order. This was a disaster waiting to happen when all these places were built in the boom time.
@dakmycat3688
@dakmycat3688 Күн бұрын
I’m sure they Took the salt water and hurricanes into consideration only thing is, is that times coming up. I’m sure they figured it’s not their problem in 40 years🤨
@PeterSramka
@PeterSramka Күн бұрын
@@dakmycat3688How can you be so sure of your speculation. Wouldn’t it be more accurate to say, “I wouldn’t surprised if xyz” rather than “I am sure xyz”?
Күн бұрын
The usual response by people is that they want the government to step in. But, that just means to have all the other tax payers pay for your situation. How is that far to everyone else??
@kimberlybegonia2869
@kimberlybegonia2869 2 күн бұрын
Living in Paradise on the beach where everything RUSTS Out! Common Man forever home No Way
@alp3781
@alp3781 18 сағат бұрын
I want to thank well experienced home inspection when we met, inspecting out new townhouse in NJ, when asked if good to invest in a flat by the ocean around Fort Lauderdale. Was told, NOOOOO. Stay away from these old condos/flats due to this same issues. That was 10 years ago. This Jeff saved us so much aggravation, not even a joke. My wife and I, stopped by his office, last week and brought the office a massive food basket as thank you. He was so surprised almost to tears. THIS ISSUE is a mess!!!! I feel so bad to all of these building and/or condo owner. Now, its a black hole for so many of them.
@1whitecottagelife770
@1whitecottagelife770 Күн бұрын
We've been going to Maui Hawaii yearly to Kaanapali and we stay in a condo at the Whalers condominiums. Ocean front. I noticed a lot of aging plumbing and I was wondering how much it would cost to update the plumbing and maintain such tall buildings. People are talking about Florida today, I believe Hawaii is next
@harmlessgrey
@harmlessgrey Күн бұрын
It's an outdated building that hasn't been maintained. Makes sense to sell and replace with a big new development. The cheapskate owners who angrily voted down HOA fee increases while never volunteering to be on a board and do the hard work are to blame in many of these cases.
@huckfin1598
@huckfin1598 Күн бұрын
All these condo owners purposefully didn't do maintenance and kept their fees low. This is what happens. At the end of the day they can always sell and get out.
@dquan731
@dquan731 2 күн бұрын
These homeowners are funny. They defer all maintenance fees and they cry to the govt when it comes time to collect the necessary fees to fix their own building to which they should have been paying for. Pass the costs to taxpayers? Hilarious.
@zatosan729
@zatosan729 19 сағат бұрын
The banks, car companies, and AIG asked for money in 2008 so they are looking for the same treatment.
@GD-ru7xr
@GD-ru7xr Күн бұрын
Owners who refused to vote for repairs and to fund reserves for years.
@alexisbaumann1631
@alexisbaumann1631 2 күн бұрын
Where is all the condo association fees ????? Who stole the maintenance fees???
@Sleepy-o3m
@Sleepy-o3m 2 күн бұрын
It’s the people who wanted low association fees who are at fault. They push it off for years until finally they have to raise fees dramatically, special assessments happen, etc. happened at my last place. So glad I left because it was ridiculous.
@RocketGator05
@RocketGator05 2 күн бұрын
The greedy capitalist building owners need vacations and to invest in their retirements. They don't care
@MS-ty8eq
@MS-ty8eq 2 күн бұрын
There was never any payment to be stolen they pushed off the payments for maintenance until now.
@guybeingaguy
@guybeingaguy 2 күн бұрын
Jesus. Jesus took the maintenance fees.
@dirtbikefan2007
@dirtbikefan2007 2 күн бұрын
@@guybeingaguy he also took the wheel!
@user-Luv-U2
@user-Luv-U2 2 күн бұрын
My condo building in Broward is facing similar problems! They say the building has to do an audit back to 2022, The previous condo boards might be to blame. After each year the former board members never show up to the meetings. The Beach Club condo is facing issues too! There are a lot of angry unit owners who always fight about money issues during the meetings.They don't know how to wait their turn to speak! It's terrible what goes on! 😱😱👀👀
@guybeingaguy
@guybeingaguy 2 күн бұрын
You are about to lose a lot of money. Good luck.
@user-Luv-U2
@user-Luv-U2 2 күн бұрын
@@guybeingaguy I subbed Tasty Peanut 🥜
@neilkurzman4907
@neilkurzman4907 Күн бұрын
Yes, it’s terrible that the owners of the units fight against spending money to repair the building unless forced to by the law.
@user-Luv-U2
@user-Luv-U2 Күн бұрын
@@neilkurzman4907 I subbed 𝐓𝐚𝐬𝐭𝐲 𝐏𝐞𝐚𝐧𝐮𝐭 🥜
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
I'd like to be a fly on the wall....
@jamestreanor182
@jamestreanor182 Күн бұрын
They refused to do repairs for decades…
@quackassassin2146
@quackassassin2146 2 күн бұрын
Broward county doesn't want to help the residents on a forty year old building with only a measley eleven units. They want them gone. So they can put up an ultra lux mid rise with 40 or more $3.5 mil and up units.
@GigaChad_169
@GigaChad_169 Күн бұрын
Yup why help deadbeats who don’t want to maintain their homes? Let a developer come in and add value to the land instead and reap more taxes.
@how_to_college
@how_to_college Күн бұрын
In any case, the county doesn't have hundreds of billions of dollars lying around .
@Bob-The-Guy
@Bob-The-Guy Күн бұрын
I see the same thing happening here in Massachusetts but in a different way, smaller homes are being bought by developers and knocked down to build huge homes. The town is fine with this as they generate more tax revenue without having to raise taxes. The down side is that it pushes out those with lower incomes making the housing crisis worse.
@neilkurzman4907
@neilkurzman4907 Күн бұрын
They allowed their building to become unrepairable. Nobody can help them. He was there for 17 years. Maybe if they did something 10 years ago
@same5952
@same5952 Күн бұрын
@@GigaChad_169 Exactly!
@AMXhotrod
@AMXhotrod 9 сағат бұрын
Life under GOP rule, where decades of no oversight has led to this. You voted for it Floridians!
@PianoMatronNeeNee
@PianoMatronNeeNee Күн бұрын
Big win for Developers
@neilkurzman4907
@neilkurzman4907 Күн бұрын
And a small one for those people. They’re building is less than worthless. They’re lucky that somebody bought the land from them otherwise they would get nothing.
@weareallamericans7358
@weareallamericans7358 Күн бұрын
Never buy Waterfront !🙄! Century Village Pembroke Pines Well Maintained so No Issues 😇👍
@niquinaringo5026
@niquinaringo5026 Күн бұрын
My parents used to own a unit there in the V building on 128th Terrace. Bought it back in 1988. I kind of miss visiting there.
@weareallamericans7358
@weareallamericans7358 Күн бұрын
@niquinaringo5026 it's a surprising Oasis in the ❤️ of Pembroke Pines. We're on 5th Court in Building M. Shopping for everything you could ever need right off i-75 at Pines Blvd. Great shuttle service inside plus links up with Broward transportation at the 135,000 square foot clubhouse. Wish we had discovered Century Village much sooner 😎👍
@johntorres4573
@johntorres4573 2 күн бұрын
Construction of these facilities has been sub standard,sorry to the people who bought them,you can’t sale it now
@francismarion6400
@francismarion6400 2 күн бұрын
It's the people who bought them that are to blame.
@huckfin1598
@huckfin1598 Күн бұрын
They can sell the whole building. Only saving grace
@jackwilson3121
@jackwilson3121 2 күн бұрын
Why should condo owners get relief? I am glad that I don't live in Florida? I have owned my current house in Iowa for 45 years & do any repairs as needed.
@poollife777
@poollife777 Күн бұрын
Who the freak cares I live in Florida and I haven't had any maintenance either because it all depends on where you live and I live in a home. You don't live here so your comment doesn't make any difference except for you to like to brag like who would freaking want to live in Iowa when I live in Florida where the sun shines. Go get a social life.
@matth7448
@matth7448 Күн бұрын
Greedy boomers kicked the can down the road not doing any repairs and now want us to feel bad for them… pay for the repairs with the equity in your condos…
@jpcaretta8847
@jpcaretta8847 Күн бұрын
Amusing ! People bragg about the profits they made in real estate but cry when they loose ! Saving on maintenance is suicidal Some win, other loose ! This is life.
@danfortinjr5388
@danfortinjr5388 Күн бұрын
When condo associations don’t do what they should have been doing for years. This is the result.
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
Not just the condo associations. The owners themselves would often vote against expensive repairs. Or even normal repairs
@denialphasebitcoin5639
@denialphasebitcoin5639 Күн бұрын
Developers and thief's Are circling the wagons
@urbnfusionteam3200
@urbnfusionteam3200 2 күн бұрын
County works with developers not residents. Regular condo owners don't bring profits. Developers do.
@GigaChad_169
@GigaChad_169 Күн бұрын
Residents are responsible for maintaining their property. That has nothing to do with the County.
@davidwright873
@davidwright873 Күн бұрын
it seems like a land grab to me....I dunno...4 million in repairs? hm...
@mE-zx7pt
@mE-zx7pt 10 сағат бұрын
Same here. They're going to decide all the older buildings need to be torn down & sell it to luxury developers.
@davidwright873
@davidwright873 10 сағат бұрын
@@mE-zx7pt exactly....make people move out and they move in!! what a strategy...
@navajojohn9448
@navajojohn9448 Күн бұрын
Transfer of wealth. People stuck in buildings can't afford to fix and have to sell cheap so the rich the can take their spot in a new building.
@Attalla2023
@Attalla2023 14 сағат бұрын
You bought the lie now live with it
@jspotmusic
@jspotmusic Күн бұрын
I was so close to buying a Miami condo a few years back.. so glad I didn’t
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
Your mouth would of been twisted RN if you bought one...bout the stroke out from the stress and duress
@RedfishGB
@RedfishGB Күн бұрын
There are houses neglected for 40 years that sell for land value, this is no different. I was in a HOA that argued about a $50/year fee increase. If you are in a HOA you are at the mercy of the voting members. Live with some penny pinchers and you go down with the ship.
@jsd354
@jsd354 18 сағат бұрын
My shock is that the condo owners are shocked. I live in a single family home I own. The last 2 years I replaced the roof, rebuilt the bulkhead, updated one of the baths, replaced some rotten wood, replaced some of the electrical wiring, painted the inside and outside and replaced the kitchen cabinets and countertops. I paid appx 155k in total. If I’d set aside a couple hundred a month when all these repairs were done I’d a been $100,000 short too. Sorry guys, that’s the cost of housing. I could shock you further by telling you after you have your car 10 years there are a lot of repairs as well or you have to replace it. Stop whining and grow up. Oh, and it isn’t the legislatures fault or the governor’s fault. People are pitiful.
@EM-re5xq
@EM-re5xq Күн бұрын
Why would the county help? Irresponsible HOAs.
@theblade9024
@theblade9024 Күн бұрын
Build on sand at a time of lax enforcement during construction and years later you have a building sinking. Just walk away.
@blaydCA
@blaydCA Күн бұрын
Saltwater and any construction materials eventually lead to degradation. Lack of maintenance just speeds it up.
@poollife777
@poollife777 Күн бұрын
Really like nobody ever freaking knew that like it even needed to be said.
@blaydCA
@blaydCA Күн бұрын
@poollife777 Looks like Butter Cup got triggered! LoL
@719diesel
@719diesel 2 күн бұрын
someone please tell me, how all these buildings were allowed to get so run down. ? Who has been doing the inspections the last 20 years...huh? Maybe the City should pay for neglect!
@mrjonathank92
@mrjonathank92 2 күн бұрын
It’s not the cities problem. All those people neglected to maintain their properties. They think just because they’re in a condo that repairs and maintenance are optional. They kicked the can down the road now here we are.
@719diesel
@719diesel 2 күн бұрын
..the can has definitely been kicked down the road...for sure
@vulcan2882
@vulcan2882 2 күн бұрын
The owners of the condos are the ones who need to make all the repairs not the city, condo buildings are private property.
@Plutogalaxy
@Plutogalaxy 2 күн бұрын
The inspection’s were not required, so they didn’t do any maintenance.
@exoressdelivers70
@exoressdelivers70 2 күн бұрын
​@@mrjonathank92It makes sense to kick the can down the road depending on how old you are,. If you're 75 years old and they say that your condo roof is going to need replacing in about twenty years but you need to start paying now, why would you? You'd be probably dead by the time that roof needs replacing and you won't benefit from your payments.
@johnholmes914
@johnholmes914 2 күн бұрын
Ha ha kicked the bucket for Decades. not counties fault. Owners fault. Managed mine for 17 years no bucket! In the black. real estate such as buildings deteriorated
@hammertyme8392
@hammertyme8392 Күн бұрын
I lived in Florida for 40yrs. Brought a condo back in 92 and sold it in 2002. I saw this coming 25yrs ago.
@poollife777
@poollife777 Күн бұрын
Oh crap you just moved so you can make a little money and do something. Seriously you can't have a premonition and if you did who cares that was 25 years ago.
@mark33328
@mark33328 Күн бұрын
Smart owners. Don’t pay for repairs. Tear it down and rebuild, or sell it.
@bigbadbubba099
@bigbadbubba099 2 күн бұрын
Much cheaper to rent and leave this crap to the owners😂
@bobblacka918
@bobblacka918 2 күн бұрын
Cheaper to rent now, but where is the big payoff when you sell? You could spent $25,000/year over 20 years for rent, but if you put that $500,000 into a house, that house will pay you back probably $950,000 after 20 years if you sell. You get nothing back if you rent.
@carguy6512
@carguy6512 Күн бұрын
You forgot to mention all the interest you pay on your mortgage, as well as the property taxes, and maintenance. You don't really get it back...
@pkal244
@pkal244 Күн бұрын
​@@carguy6512agreed. If you run the numbers with a 6.9% interest rate, you would actually come out on top renting and investing the difference over 30 years. You'd have enough to buy the house you want in cash. Realtors and loan officers will never tell you that though, and home owners are blind after spending so much $$$ on their property.
@bobblacka918
@bobblacka918 Күн бұрын
@@carguy6512 : I bought a house on the beach back in 2001 for $125K. It was just appraised for $895K. That more than covers all the taxes and maintenance and still leaves me a big windfall.
@same5952
@same5952 Күн бұрын
These people ARE the owners who chose not to maintain the building where they own a unit. Stupid and I don't feel sorry for their current predicament.
@ADRAPropertyManagementInc-d2g
@ADRAPropertyManagementInc-d2g Күн бұрын
Accountability is lacking and hardwired protective measures is need too be in place for the association’s management of the association property and components to protect the association’s interest and prevent exposing the association to unnecessary risks. We observe even in this current climate board members routinely making major funding pr project authorization decisions without consulting their core guiding vendors such as the association’s board counsel, insurance agent and property management firm. The consequence of not properly vetting vendors, proposals and subsequent contracts and confirming source of project funding is dire a Can be perceived as negligence by the association board on casting out their fiduciary responsibilities. Residents must stay vigilant and stay on top of all decisions being made and attend their board meetings to ask questions and be informed.
@PIPEBITE
@PIPEBITE Күн бұрын
And a “developer” just too happy to buy it. I discern a pattern here. A pattern that points to a very simple plan.
@GigaChad_169
@GigaChad_169 Күн бұрын
Maintain your building and this won’t be a problem. There is no conspiracy, just consequences. Create an unsafe living situation with a poorly maintained building and be prepared for a developer to swoop in and buy it out from under you for practically nothing since a building that doesn’t meet safety code is worthless anyway…
@PIPEBITE
@PIPEBITE Күн бұрын
@ I’m just pointing out that the crisis was timely. Everyone paid monthly to the association while the condo laws long prevented waste, fraud and mismanagement to be investigated and corrected until it was too late. Case in point is the incredibly notorious Hammocks association. We were able to prevent that in the condo complex in which I live. But it all depends on the people running the association and the efforts of the owners to defend themselves with an imperfect set of condominium laws and regulations that aid and abet the wrongdoers. They say that’s finally changing. I hope so but I don’t see it too clearly.
@WilliamHidajat
@WilliamHidajat Күн бұрын
It is quite shocking for owners to learn that they need to pay for such expensive damages in the first place
@johnholmes914
@johnholmes914 2 күн бұрын
Ha ha kicked the bucket for Decades.
@scasey1960
@scasey1960 Күн бұрын
These laws have always been on the books but we’re never enforced!! Think on the money people saved by deferred maintenance! Now the buildings are unlivable. Nice going Tallahassee !!
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
No, in Florida, you were actually allowed to vote to not keep any reserves. And the building didn’t have to be inspected until it was 40 years old. Before then, no reserves and let the building rot was perfectly legal.
@crinklecut3790
@crinklecut3790 Күн бұрын
These peoples’ retirement dreams have turned into absolute nightmares. Shame on you Florida. You should have seen these problems coming decades ago.
@carymarshallfelton9188
@carymarshallfelton9188 Күн бұрын
All those northerners tricked into moving down there during Covid. Florida has been running that game since the days of Henry Flagler, Henry Plant and Hamilton Disston.
@ahanna4396
@ahanna4396 2 күн бұрын
Very good decision Corporation
@mbuccil1
@mbuccil1 Күн бұрын
Not the responsibility of single family homeowner taxpayers. We pay for our buildings, we don't want to pay for your buildings yearsbof neglect to lower your hoa dues.
@pumpupjam9648
@pumpupjam9648 Күн бұрын
Well I see homes and condos on the beach or near the ocean, the ocean can deteriorate the building. Corrosion in the worst possible way. And selling to investors, what a joke. They will not fix anything they have to waste their money on. They will rent those units out at e extreme prices!
@VejjieHolt
@VejjieHolt Күн бұрын
Collapse or controlled demolition?
@MikiCab1
@MikiCab1 Күн бұрын
Fire sale. People are going to get rich buying these buildings are rock bottom prices.
@higgs923
@higgs923 Күн бұрын
The deadbeat condo owners neglected maintenance for years and now they want a bailout.
@kayamann321
@kayamann321 Күн бұрын
When we collectively decide to ignore maintenance and hoard money, problems will occur…
@jackwilson1818
@jackwilson1818 2 күн бұрын
Did Larry Silverstein triple-insure the Surfside condo building 2 weeks before it “collapsed?”
@bigbadbubba099
@bigbadbubba099 2 күн бұрын
How can they sell that place?
@GigaChad_169
@GigaChad_169 Күн бұрын
A developer will buy it for pennies on the dollar and foot the cost to demolish the building and put something up that meets code.
@dixiebrick
@dixiebrick Күн бұрын
I feel so badly for these people. NOT!
@stockey
@stockey Күн бұрын
And after the assessment, you need to pay skyrocketing HAO fees.
@poollife777
@poollife777 Күн бұрын
Well aren't you just nice for explaining to the people what they need to do. Let's all give you a clap.
@poollife777
@poollife777 Күн бұрын
And by the way what is an hao? I thought they were talking about HOA.
@RemboUSMC
@RemboUSMC Күн бұрын
Decades of neglect in order to keep the costs down will eventually catch up with you.
@poollife777
@poollife777 Күн бұрын
Really that's the same as anything like a car your body whatever. Why do you people think you need to say something that is so obvious. Again thank you Captain obvious.
@DavidMcCalla
@DavidMcCalla Күн бұрын
What's the odds a developer ready to buy all the buildings They been to investigate the company's coming out handing out the fines
@Haitiancowboyhtx
@Haitiancowboyhtx Күн бұрын
This is a developers dream. What’s happening in South Florida
@poollife777
@poollife777 Күн бұрын
Wow you people have so much insight it's unbelievable who freaking cares. You're just another opinion.
@poollife777
@poollife777 Күн бұрын
I don't think any developer would dream of wanting to tear down a freaking whole condo and rebuild. They'd rather find land and there's plenty.
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
0:00 is that Luigi?
@ljacobs357
@ljacobs357 Күн бұрын
Why is it just Florida.
@anthonykence9954
@anthonykence9954 Күн бұрын
Condos are nightmares now
@CharlesCurran-m9p
@CharlesCurran-m9p Күн бұрын
So who would buy a condo that needed millions in repair?
@same5952
@same5952 Күн бұрын
Developer. They'll buy it cheap for that reason, take it down and build new luxury condos. Win-win.
@Rich-lu6pd
@Rich-lu6pd 2 күн бұрын
This is what happens when owners vote to keep the fees low.
@Gn777-rk5kg
@Gn777-rk5kg Күн бұрын
I was so close to buy a condo. But I keep hearing horrible things specially HOA is greedy. I so glad I did not buy one.
@neilkurzman4907
@neilkurzman4907 Күн бұрын
I’ve lived in a condo for over 30 years. I keep hearing horrible things too from people who don’t live in condos
@bradbradshaw-i4n
@bradbradshaw-i4n Күн бұрын
they knew this was going to happen 3 years ago.
@Attalla2023
@Attalla2023 14 сағат бұрын
But I thought it was your home, but I guess it really isn't. Who could have guessed
@guybeingaguy
@guybeingaguy 2 күн бұрын
Nobody cares. You bought it 🤷‍♀️
@stevemanieri5409
@stevemanieri5409 Күн бұрын
Combination of shoddy construction and local government looking the other way. This is what you get.
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
You forgot the combination of not doing any maintenance for decades.
@im4udevco
@im4udevco 2 күн бұрын
If everyone is selling, who's going to buy?
@kathleenalbright3908
@kathleenalbright3908 2 күн бұрын
These condos will be torn down and more condos built that are up to code. The newer condos should last 30 or 40 years until they're washed away by the waves.
@GigaChad_169
@GigaChad_169 Күн бұрын
Developers will buy for pennies on the dollar and put a new building up and make lots of money. The consequences of not maintaining your property, you lose it.
@michaelWells-ef9bx
@michaelWells-ef9bx Күн бұрын
=Make America Florida? .... what did we do to you ?
@user-qs4uc2no3g
@user-qs4uc2no3g Күн бұрын
Build on sand ,never should.
@urbnfusionteam3200
@urbnfusionteam3200 2 күн бұрын
Some one really pissed at mom and dad or grandpa and grandma!!!
@jaykay3835
@jaykay3835 2 күн бұрын
😂😂😂 this inadvertently makes the market a developer’s dream!!
@guybeingaguy
@guybeingaguy 2 күн бұрын
You’re not wrong.
@poollife777
@poollife777 Күн бұрын
What a stupid thing to say and get rid of those stupid emojis.
@jaykay3835
@jaykay3835 Күн бұрын
@ 😂😂😂 are you on your period babe?? Or is it menopause?
@davy-q3g
@davy-q3g 2 күн бұрын
Scamming the seniors in their old age.
@alan-light
@alan-light Күн бұрын
It’s the residents who wanted low association fees who are at fault. They push off repairs for years until finally there is a big special assessment needed.
@GigaChad_169
@GigaChad_169 Күн бұрын
More like the seniors scammed themselves by thinking they didn’t have to maintain their building.
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
In Memphis we call it poppin 'kon
@NOMOone
@NOMOone Күн бұрын
Unsafe building.😂😂😂 it’s Florida, your in the constant path of hurricanes, no building is “safe”.
@MS-ty8eq
@MS-ty8eq 2 күн бұрын
The Boomers lived in these condos since forever and never paid for the maintenance long term. I hope they all move right out of Florida. They have pigged out for 40 years at the expense of future generations. But that's the generations motto. Mine mine mine!!!
@diegoflores9237
@diegoflores9237 2 күн бұрын
Calm down son, don't talk about your parents and grandparents like that
@jamesmay5860
@jamesmay5860 2 күн бұрын
​@@diegoflores9237..you arrogant cockbag
@bh-zj4yt
@bh-zj4yt 14 сағат бұрын
Everything is going to plan - Meatball Ron and the Developers
@navajojohn9448
@navajojohn9448 Күн бұрын
Are hotels, apartment buildings, office buildings, commercial buildings all subject to the same rules? Are there any states in the country needing to do the same or is it just Florida construction and oversight has been crap for decades?
@poollife777
@poollife777 Күн бұрын
I'm going to direct this at you because when I asked questions I actually like to direct it out of human. Why are you asking all these freaking questions and then answering yourself? Why don't you just say nothing.
@poollife777
@poollife777 Күн бұрын
Oops I'm sorry you did say nothing.
@rea8755
@rea8755 2 күн бұрын
This is the plan: bring on the developers... 😮
@poollife777
@poollife777 Күн бұрын
Yeah developer just wants to tear down and dispose of big old giant condos everybody dreams about that. Why look for empty property.
@fasteddie7276
@fasteddie7276 Күн бұрын
Tell Biden. I'm certain he'll send you a check.
@carlosponchio1869
@carlosponchio1869 Күн бұрын
basically, how much the land is worth? split the money and get out of Florida.
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
That’s exactly what happened
@rontheoracle
@rontheoracle Күн бұрын
It'll be more affordable to just abandone the place and move to another city.
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
That’s exactly what they did. They sold the building to a developer who’s going to level it and put a new one there. The building they neglected for all those years is now less than worthless
@Attalla2023
@Attalla2023 14 сағат бұрын
Buyer be whare, oh too bad
@gregorymoore8463
@gregorymoore8463 Күн бұрын
File bankruptcy, walk away, go live with your kids
@TommyTomTompkins
@TommyTomTompkins 23 сағат бұрын
They don't want their tail living up in the house....
@neilkurzman4907
@neilkurzman4907 12 сағат бұрын
The guy in this one was able to sell to a developer who thought the property itself had some value. That’s what happened to Surfside
@teresa-o3t
@teresa-o3t Күн бұрын
BOOOO HOOO HOOO, poor you, that's what happens when you don't do regular repairs because you voted to keep your HOA low!
@poollife777
@poollife777 Күн бұрын
If you don't freaking care then why are you watching the freaking video and making stupid baby comments.
@pwu8194
@pwu8194 2 күн бұрын
Bunch of condo owners need handout.
@seymorefact4333
@seymorefact4333 Күн бұрын
😂🤣 DUHHHHH! I'm surprised it wasn't 4 times as much! Ignoring maintenance for decades...living by the sea. Hurricanes every year. Wondering why insurance was so low for decades and decades?!!! i'd visit, NEVER BUY IN FL!
@poollife777
@poollife777 Күн бұрын
Please don't you can't even write a proper sentence and we don't need you. And if you're ridiculous enough to think that everybody lives in a freaking condo in Florida on the ocean you are totally brainless.
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