$21 million special assessment sparks controversy among Brickell condo owners

Just 16 years after construction, residents at one Brickell condo are grappling with a contentious $21 million special assessment for repairs to their building.

[@cHernandez6449]

looks like Miami is going to be the ground zero of the housing apocalypse

[@isartoraplatz]

I would never buy a condo Of any sorts I like privacy..

[@fsl4346]

​@@isartoraplatzAMEN!!

[@desmondjefferson2127]

..... and no one will care. It's temp country now and that tax bracket and zip code voted for this 🤷‍♂️🤷‍♂️🤷‍♂️

[@drlove994]

No way it’s a red state ❤

[@DeenaMilkers]

More like literal collapse if surf side is an indication

[@MrDCMiami]

As a former high-rise multi-year board president in Aventura (400-unit high-rise complex), I can tell you without hesitation that condos are a failed concept in home ownership. Unless you are in the money-is-no-object crowd and you are buying n a new luxury building and only plan to own temporarily, STAY AWAY!! They are completely unsuitable as middle-class housing instruments.

[@lunam7249]

fire hazard

[@michaelellringer5600]

@@lunam7249 Concrete doesn't burn!

[@mrparts]

You are absolutely correct. These structures only make sense for very high income people.

[@weldinggirl]

Wow what a job you had, might be why it’s former lol, aventura 400 unit high rise, geez, dealing with all the super rich entitled ppl lol, I’m sure some are nice I know a couple actually in aventura but you couldn’t pay me enough, lol, might be why that one adventura pres went to jail for stealing so much money, they couldn’t pay him enough to deal lol

[@lunam7249]

@@michaelellringer5600 no sherlock holmes, but people and furniture burns😳😳😳😳🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️

[@Mrrossj01]

Welcome to salt air, humidity, concrete, and time. Everyone wants the inflation in property values (yippee, I’m rich!) but not the inflation in maintenance cost, the increase in insurance, taxes, and ongoing maintenance fees.

[@lizsadler2056]

This

[@rayRay-pw6gz]

The building is only 16 years old. Also the price ($21 million) seems high. Also did the original builder go out of business ? This being Florida , a business friendly state . Does that have any say in the way things are being done? A complex problem with a very shallow news report.

[@hammertyme8392]

I live in Florida for 40yrs. Saw this coming decades ago. Sold my condo 25yrs ago because of HOA fees and spotty maintenance

[@SeattleBoatdog]

Cool story gramps

[@Klat2]

Always check the original builder before purchasing a unit a lot of garbage has been built in Miami

[@drlove994]

Never ever buy a condo.

[@OrestesSword]

How can 16-year-old buildings be in that type of disrepair that it's costing 21 millions dollars?

[@carlbowles1808]

Shoddy construction 🚧

[@robl326]

Miami corruption

[@Bradimoose]

Obviously the estimate for repairs builds in a healthy profit margin for the contractor. Florida was built on ripping off wealthy northerners.

[@Marc-ys9og]

HIGH SALTY MOISTURE IN THE AIR AND ROOF TOP POOL LEAKS AND HOLLOW CORE VERTICAL CEMENT PANELS THAT EXPOSE THE STEEL SUPPORT STRUCTURES

[@smartcitycar]

Ken Griffin

[@David-y7e5n]

IN NY BUILDINGS ARE OVER 100 YEARS AND STILL STAND

[@techweenie1]

Same in Chicago! I don't get how Florida has this problem.

[@bigfatdavebigfatdave7395]

It’s because the building inspectors in those places are bribed properly 😂

[@lunam7249]

built by usa citizens, not 🥑

[@CameronCourts]

The salt water is corrosive.

[@techweenie1]

@@CameronCourtsNY has salt water

[@willjohn4286]

So what the hell were they doing with the HOA fees ?

[@JamesSylne]

Pocketing

[@colombiantom]

Most likely, they were not charging the right amount to have good reserves for 16 years. Now they have to pay what they did not pay for 16 years. If you look at places like NYC the HOA is above $1k a month, assuming the same to maintain the buildings in FL, they should have 192k in reserves for each unit at the very least, which they don't. I was looking to buy there and the HOA was around $400, that amount is barely to maintain the green area, pools, grills, paying staff, cleaning, water, electric etc.

[@GeeGee19]

It's all one big scam. The management company gets huge kickbacks in the millions.

[@realgood537]

drugs and hookers

[@zombieshoot4318]

@@colombiantom $400 on Brickell? Yep. Owners don't want to pay the real monthly fees. So maintenance took a back seat and now they are stuck with $21 million dollars.

[@GeeGee19]

When they say real estate is a good investment they dont mean Florida condo buildings. Buy single story townhomes you cant go wrong. 21,000,000.00 dollars in repairs the management company gets a few million in kickbacks. Its all one big scam.

[@Krispy-3]

HOA free right?

[@CoolHand273]

It can be as long as you own land in a place with good employment and weather. Otherwise you will be lucky to keep up with inflation.

[@hardren101]

@@Krispy-3 Absolutely!!! You can find "Freestanding TH with NO HOA, I owned one in Ohio.

[@choco.es.unlimited]

Real estate isn't a good investment in the US. You don't own the land. You're nothing more than a renter. 2 years without paying taxes, the government is coming to steal "your land" for pennies on the dollar.

[@isartoraplatz]

Not even I said on the board of a townhouse, the parking lot needed to be paved and many things needed to be done and I would always be voted out for the Repairs; needless to say I resign they had the money but what they used it for I’m not sure… They always figure out a way not to fix things and put it off until it’s too late ..

[@TamFam-o3n]

The building is too new for this many repairs....

[@TIOPERICO]

STRUCTURES DONE BY TERRA ARE BUILD AT THE LOWEST COST, OTHER WORDS CHEAP, ALSO THE LAW EMPOWERS HOA TO STEAL, PERFECT COMBINATION, ISN'T??

[@davidwright873]

id want receipts...

[@DeenaMilkers]

Wasnt built right in the first place.

[@gerrybyrne5636]

Cheap materials, cheap labour , lax laws, no accountability etc etc . Life in the free state of Fluuuuurda.

[@rickagfoster]

@@DeenaMilkersabsolutely true. Fraud involved. $21m sounds way beyond “necessary” unless there was fraud at some point.

[@anamericaninchina869]

This is a bigger problem in the United States than other countries. The buildings do not meet minimum standards and the US government simply allows it. Seaside condos in Thailand and other countries go for several decades before anything even close to this type of repair. Life is better when you leave America.❤️🇨🇳🇹🇭🇵🇭

[@murk2002]

Please guy a condo in Thailand is no treat. They build them with minimum occupancy and the maintenance is lacking. Chinese construction is horrible tofu dreg bad construction. The US overall has the top construction and inspection regime.

[@anamericaninchina869]

@ Not my experience but best wishes.

[@SeattleBoatdog]

Yeah, this is pretty much the stupidest comment on this entire video

[@anamericaninchina869]

@@SeattleBoatdog Thanks for your feedback. Comment quality from Americans is consistent with their other standards.👍

[@robertdz2381]

homes or condos are just too cheap and too thin, these thai homes will have significant wall cracks if not major wall cracks. These home are built cheaply with very nice finishes., and then you wonder why some Thais drive some very expensive cars such as Porsche Panameras a 250 thousand dollar car and here is your answer; cheaply built home sold for 200-500 thousand dollars; profit = 50% or more. Another danger that you buy into an all-thai HOA., most of Thais who buy such expensive houses borrow extensively from banks after selling a family farm for the down payment and when financial hardship comes along then you as a farang will be expected to cover for most of the costs of HOA maintenance and fees, you will not be told that it is expected of you but fees will be raised on you and they will prepare fraudulent receipts to show you that others pay the same higher amounts. OR better yet a special assessment to fix a sinking swimming pool, and again fraudulent receipts will be produced to show that others paid as well, and the proceeds from your special assessment will be used to help with mortgage for a cousin or a brother who lives in the same community where the HOA boss is ruling over you, and that HOA boss brother will be praised throughout the entire family for saving his brother or cousin from loosing their home for which 5 generational farm was sold for the down payment. And You as a farang certainly will not be on the board. Thailand is a beautiful country, really good schools, we moved here with our daughter, my cousin is moving here with his 3 kids. Build your own house or buy from another farang, avoid HOAs like fire.

[@jaykay3835]

😂😂😂 I’ll tell you one thing… ALL that glitters sure ain’t gold!

[@NathanBrooks-x1c]

Yeah, that would be DeSantis and his maga cult in Tallahassee and citizens still haven’t got enough of them.😂

[@juancabrera1247]

Brickle Avenue is not for the working man. If you can't afford the taxes, monthly fees, or special assessments; you can't afford to live there.

[@onionpeeler2023]

Lawyers will ruin the state of FL...

[@CraigC-h6b]

Northerners doing a good job at that

[@markrichards6863]

The state legislature did this. Yes, buildings should be maintained and have adequate reserve funds, but the time frame the new laws mandate is unreasonable. The state legislature has sunk the condo market statewide.

[@desmondjefferson2127]

🤷‍♂️ only when boomers lose everything and are homeless, they will remember THEY VOTED FOR THIS!! If they didn't REMIND THEM, Reagan, Bush, Bush and Trump.... They made their bed, and now they won't even have that to lie in🤷‍♂️ It's what they wanted for everyone else and didn't care

[@desmondjefferson2127]

​@@markrichards6863they voted DeSatan and Trump.... Let's wait and see if they help these people 🤣😂😂. I hope Trump's friends take EVERYTHING from boomers just like they deserve

[@DabsDad]

Wrong. Developer's have ruined it.

[@spider82666]

Condos in Miami look great but need to be better constructed. The elevator is the first thing to check before buying a highrise condo. If it's not Otis brand, run away!

[@YourRichAuntie]

You're living in a luxury Miami building but you can't come up with $40K for a special assessment?? You can sell, but you're going to have to disclose the pending special assessment and likely come down on the price considerably to account for the assessment. People want these rock bottom HOA fees, but then don't want to take care of the decades of deferred maintenance these artificially low fees inevitably generate. No one wants a special assessment. Board members often live in the building and are subject to the assessments too. But when you're not charging enough this is what happens

[@JameyLane]

Yeah and board members can get enough kickbacks to cover it. There is something rotten in Denmark here.

[@YourRichAuntie]

@@JameyLane I don't think that's the case. Expensive repairs and deferred maintenance sound long overdue - especially if the buildings have a pool and other amenities and residents have been underpaying the HOA for over 15 years. Residents can ask to audit the budget for repairs if they wish

[@iridatv1181]

It has nothing to do with that. If the money was entrusted with people using it for good, and if there was transparency in the spending in a process that's not comically crooked it wouldn't be a problem. The problem is that this is a total scam and money is being plundered from reserves to enrich a few people without ANY improvements at all.

[@UncleDavesKitchen]

I'm in Sedona, Az bought my condo 45 years ago and my HOA is $215 a month. We 've never once had an assessment, we target needed repairs with Sinking Funds and save up.

[@ArtSmosh1274]

Special assessment because a condominium had collapsed in Miami years back so the government forces them to do it now.

[@SeattleBoatdog]

Good for you grandpa!!

[@UncleDavesKitchen]

@@ArtSmosh1274 those repairs obviously were not made prior to the collapse. Easier to prevent a problem than fix one later

[@TheMohawk102]

16 years old and 21 million dollars in repairs . I be turning to the Builder .

[@JameyLane]

Builder is long gone trust me.

[@iridatv1181]

Exactly, but the board isn't doing that because they know it wouldn't stand a chance in court They'd rather plunder it from the association and the owners.

[@I_Dont_Answer_Questions]

2:11 Let me be clear since the lawyer is trying to gaslight the community. By law the owners are to vote on every single assessment in excess of $50,000. Should the owners decline the assessment the board can then call for a vote per Florida law to ensure the structure is adequately maintained. That is how you do it legally, and transparently. There is no down side to capturing the owners position. With that said. How is the condo's general fund been managed? The stock market has been absolutely gang busters for the past four years. I know it is not fair to look back in time for that sort of assessment.... But ALL indicators were the market is on fire and was going to stay on fire.

[@hejiranyc]

My building is on the ocean (more wear and tear from salt water/air) and just passed its 60-year assessment with flying colors. In addition to being built solidly, it has been maintained meticulously and every major capital improvement is fully funded and performed according to plan. I'm sure this Brickell building looked shiny and fancy when it was new, and the owners probably thought they got a sweetheart deal due to the recession. Well... it's not such a sweetheart deal anymore, eh?

[@ellierezapolvi4339]

I live here. They need to get arrested. This is not ok

[@drinny26]

Those old fashion, three story condos are looking much better these day.

[@SZehavitD]

I believe it. During that time, Miami was putting up so many bldg at a fast rate of speed, then they sat during 2008-2010 (then I moved back to NYC, to return now to this). Sloppy work from the jump.

[@Grace3355]

I’m so happy that we bought in The Four Ambassadors condominium, it’s a very solid structure, the walls are so thick that you don’t hear a noise, plus you cannot wish for a better view.

[@billschafer9668]

Condos = money pits

[@sharonsparks900]

The question is why weren’t these repairs done systematically instead of all at once?

[@d.c.3220]

That would have been the logical way to handle repairs was slowly over time.. However, most condo complexes have been allowed to "kick the can" down the road on major repairs up to the recent new law passed. Most condo owners across the state were voting to reject repairs and associated higher HOA fees. Now, they don't have a choice and big repair bills are coming all at once. This is happening all over the state.

[@sharonsparks900]

@ So I’ve read. Problem is that a lot of people either don’t have the means to pay or the assessments are more than the condo is worth. It’s a real dilemma and I feel bad for people especially retirees.

[@kengdavis]

Damned if they do damned if they don’t. If major disaster happens“they should have known and been prepared and they’re liable for not initially taking action”

[@sharonsparks900]

@ You’re right. It’s an illusion to think you’re safe.

[@iridatv1181]

Because then there would be scrutiny and orderly process which this crooked board is trying to bypass.

[@zombieshoot4318]

I know what happened here. It's the same thing that has happened to lots of other Condo Associations and even HOA organizations. The owners don't want to pay huge monthly fees so the fees are lowered and maintenance takes a back seat. Well the chickens have come home to roost at this place. You want to be living on the beach you need to pay the real costs of monthly fees to maintain these buildings. If they had done that they wouldn't be facing a $21 million dollar assessment. It would be zero or way less millions. (They'd still complain even if it was a measly $5 million)

[@kdc6884]

This building is not on the beach. It doesn’t face beach front corrosion.

[@lizzieb6311]

@@kdc6884 It doesn’t have to be directly on the water…chloride laden air doesn’t stop as soon as it hits sand…it can come inland a few miles.

[@lizzieb6311]

@@kdc6884 And yes…I know what I’m talking about…I’m a Structural Engineer..in Florida.

[@danscorner1443]

Do the math for 16 years, they only needed to charge an additional $200/month for HOA fees and the 40k would've been covered

[@JameyLane]

You're making a lot of assumptions without seeing the engineer's report getting multiple engineer reports and getting multiple bids for the repairs. I'm sure all that's done right?

[@swh103163]

I bailed from my condo over 15 years ago because of the rising HOA fees and assessments. As buildings get older fees

[@beerbrewer9996]

Wow. Kind of makes you wonder the quality of construction. Who was the developer and builder? Why CBS not mention that so others can possibly buying poor quality?

[@Landshark2020]

Way to go DeSantis and the GOP!!

[@yourgooglemeister6745]

So delusional! You leftist still have not learned after the beating you got??

[@Rojass91]

He doesn't have anything to do with this 😂

[@Landshark2020]

@ yes he does 😂🤣

[@headup3063]

​@@Rojass91you do not live in Florida to say this 😂

[@JT-go2ms]

So out of touch. Not his fault, blame the corrupt condo associations and the board members who have been misappropriating owners dues for decades. It’s finally catching up with them and the owners are paying the price. Get your head out of the sand.

[@JessGiving]

This is horrible, but I have to be honest on not really feeling bad for people who voluntarily become apart of a HOA. It’s literally ownership but controlled. I was a property manager for a HOA, we had to fine people who owned their place. For literally just changing their door knob. It was mind blowing.

[@harrydoherty8299]

this is only the beginning folks. between this problem, flooding , high insurance premiums, oh boy . 😅 that’s why we live in new England.

[@Gemrod]

Follow the money! Board approves quickly before an election. 🤔

[@garotadagavea]

Bingo.

[@drinny26]

Most owners don’t want to get involved in their condo association yet they want to complain about everything.

[@lizzieb6311]

Well, these are things that would be required on a typical standard home when you live in a coastal area where salt air continuously bombard concrete with corrosive chloride. The chloride penetrates the concrete and corrodes the rebar within the concrete. Balconies jutting out are a great risk because when rebar breaks down…and concrete spalls…there is a risk for the balconies such as those shown - collapsing. People don’t consider this when moving into high rise condos on the water - or close to the water. Salt laden air breaks down building materials far more rapidly than in areas without chloride saturated air.

[@ronen160]

"letting the owners have a say" was what started this problem in the first place. Deferral of maintenance has been the main culprit. I'm going to go out on a limb here and say ALSO that the quality of the construction of these more recent buildings is not as good as it could be, making routine maintenance required more frequently. I think it is a difficult spiral.

[@hammertyme8392]

Everybody is worried about repairs. They better start worrying about insurance. It's going to be 21 million a year just for insurance.

[@pumpupjam9648]

Not the fault of homeowners. My building is 32 yrs old and the hoa keeps up with reserves. This one is a joke. The company that built this is at fault. Not the owners.

[@gabrielhull1043]

This association needs to be investigated, fraud is in play and there is a good chance of kick backs

[@bubblegumpopvideo]

Leave Florida asap

[@davebennett4087]

Too late………

[@ronbennett7885]

Condo buildings in coastal Florida are usually good for about 10 years. After that it's a gamble. Buy early and sell before 10 years. Little risk and may net a profit. Or safer yet, if not seeking to make money, leasing. They're generally poor long-term investments. If anything, this building's board is handling it well. $40K or whatever assessments is on the lower side for such buildings. 6-figures is common now.

[@rickace132]

Miami was named the rudest city in the US.

@@rickace132 what does that have to do with the buildings falling apart⁉️

[@robertdz2381]

cubans are rude

[@JameyLane]

As a matter of fact, that board has already committed fraud on the owners by not having an all owners vote on the special assessment. You can't use an emergency as an excuse as there is nothing in the engineering report that indicates such. The attorney better not have advised them to do it either, or he's liable too.

[@Thomas_Paine1286]

We need more assessments like this ❤❤❤❤

[@MrsRight2020]

Something has to change. They have to cut HOA fees completely and just to do special assessments every 20y. Also every building has rigs to hire full time housekeeper/cleaner and maintenance guy. And pay trash wather and etc bills separate. Many European countries function like that and guess what, buildings are in the great condition. Also lessons learned from this, dont ever by a condo in the building larger than 4 floors. You eant luxury, than you have to handle that...

[@SirHumano97]

Wish I had a concrete restoration business. The last 4 years have been great.

[@jdhaenen1]

All these people complaining about the board. Let them try the thankless volunteer job.

[@briansmith35]

Oh it doesn't matter if you sell it or not you still have to pay that $40,000 you can't pass that on to the new owner you can deduct it from the price if you want to

[@ToyoteroMundial]

It's called kickbacks.😮

[@robertdz2381]

correct

[@ronen160]

But a question here: haven't there been great strides in the invention of concrete reinforcing that is not 'ferrous' in composition, making it much more resistant to the ravages of salt-water intrusion and the subsequent rusting of reinforcing bars? I believe that the main cause of concrete failure is the eventual rusting of the steel within the concrete, making it fail in its structural capacity. At that point, the concrete structure failure is sudden and catastrophic, as we have seen. I wonder if the future of tall buildings near the sea will "evolve" in this manner. Oh, and also: if the builder (as allowed by the investors) provides enough concrete cover of the steel reinforcing bar, much of these problems would be alleviated. If i'm wrong, please correct me.......

[@ZevUhuru]

40k for the most expensive units with high SQFT. Probably range down to 15k-20k for smaller units. It is what it is, most condo owners don't even show up at the board meetings but NO it should not be left to owners to decide whether to maintain, it should be up to owners to verify and make sure the HOA is doing it's job properly. I owned a unit a 1080 Brickell, just sold 2 months ago, happy to be out of the Miami condo market as I knew it would only be a matter of time before this happens to me.

[@Tedmosby97]

They can pay for it $50k is nothing for these people living in luxury

[@ArtSmosh1274]

It's looking like they don't have it

[@kendi1417]

So the guy wants to live in an unmaintained building? What do you want?

[@JameyLane]

You don't get it.

[@edg8535]

A 16-year-old building. The contractors took some short cuts.

[@Rtfre]

Why couldn’t the owners of the building itself be held responsible and not the actual residents?

[@murrethmedia]

Tell me you don't know how condos work without saying you don't know how condos work.

[@fleckcadeau2382]

Residents are the owners 😂.

[@mark33328]

You picked that upscale condo and location to go with it. Don't start complaining now about it...

[@JameyLane]

Recall the board. Look for kickbacks.

[@jondavis70]

Owners should organize and sue local government for failing to inspect and protect residents from buildings that probably needed to be condemned. In this situation, it looks like mistakes were made by the construction company or the architects. Either way, owners shouldn’t have to pay these outrageous assessments when they were told HOA dues covered maintenance. Just like a corrupt government to protect themselves and dump all the monitory responsibility on residents. 🤷

[@lewisthierman3313]

Who should pay. The State? No.

[@genxx2724]

The lawyer cites a general requirement that the board must maintain the building. Specific requirements take precedence over general requirements. The specific requirement is that a special assessment over $50K can only be passed by a majority of the homeowners. There was no homeowners vote on the special assessment, so it is void.

[@Caocao8888]

Of course, he gives you the special assessment figure ($40K) for the very LARGEST units. And he conveniently leaves out that owners will have the option to pay out over five years.

[@JameyLane]

Still ridiculous. Where is the second opinion from other engineers? Where are the multiple bids from other contractors?

[@ighdesigns]

I’m sure that’s comfort to the owners.

[@Caocao8888]

@ Are repairs EVER a comfort to homeowners?

[@kevinschlosberg7124]

HA HA HA, that's what you get for buying one of those boxes in the sky! $40K ain't nothing compared to what others on fixed incomes in older buildings are being asked to pay. Good luck selling the unit.

[@OgnianHristov-f8k]

40k is nothing in Hollywood beach Summit condo has 100k assessment .

[@LJ-mp7ir]

It’s paid at closing…..

[@chargermopar]

Those newer buildings are built to lower standards than the old ones were. One hurricane and they will be full of mold and totalled.

[@Openairemedia]

Overpriced and now huge assessments equal foreclosures galore.

[@semsemeini7905]

Do they have to pay it in one go or do they have a few years to pay it? If the Board asks all tenants nothing will be done. Could have been much worse. Some have $200,000 assessments.

[@winstonsmith6204]

How many board members have ties to developers?

[@robertdz2381]

almost all

[@toddkiehm]

I owned a condo once. Never Never Never again.

[@ScissorhandsbarbershopMIAMI]

I live in Aventura way older building then this one and we didn’t have a special assessment this high ,

[@irwinsaltzman979]

It could be 1. Your building was built with higher quality materials/protection from the elements, 2. Minor repairs are made more frequently , limiting major structural damage. 3. ( hopefully this is not true.) your board has not completed a major structural assessment and donot know structural status of the building.

[@ScissorhandsbarbershopMIAMI]

@ I mean, yeah we had an assessment, but it was not as high as other buildings and we passed our 40 year. Our pool has been redone roof parking space and it didn’t take as long as this one did in the video.

[@davidnunez8777]

Thank God this law for condos doesn't affect commercial buildings that are over 30 years old? It must be that the concrete and other building materials used on buildings, other than condos, are special and won't get affected like condo buildings. Could you imagine businesses and corporations having the issues that condo owners now have?

[@17forever64]

How does a roof on a 16 year old building, need to be replaced?

[@kewlztertc5386]

They do get a lot of wind in Florida 🌀

[@AFAskygoddess]

That's pretty standard in Florida. Houses with thirty year guarantee shingles only last 12-18 years.

[@17forever64]

@ yeah, I understand.

[@BunnyMan-ec4xg]

Florida law most homeowners will lose insurance coverage if they don't replace the roof every 10 years.

[@danielcleary1072]

A building this size should have an operating budget of about $2,000,000 a year for repairs and maintenance. It appears that it has been neglected and mismanaged. The attitude that a building of this scale can go indefinitely without any maintenance is what led to the collapse of Surfeside.

[@007mia7]

Something shady is going on… look into the company they hired & the relationship they have with the board.

[@BilldoeTruth]

Grocerieshellteracism NYC 😢

[@dhowto3005]

$21,000,000 special assessment is insane! These HOA board members or properties managers do not know what they're doing. If it's the property management companies hiring the repair people, then the condo owners need to make sure the property management company is not being compensated for hiring the repair company. That's price sounds insanely high! The monthly HOA dues should have been enough for these repairs even if it's a special assessment. There should have been money. A 16 year old building is a young build. All HOAs in single family home communities should be disband and the property management companies should be fired. There's no need for HOAs in single family home communities. HOAs are scams. There are millions of Homes & that are in neighborhoods that don't have HOAs that are beautiful and we'll maintained. I know this video is about condos.

[@hornet224]

In reality, the Brickell condos have depreciated by $3,125 per year since the board deferred payments for building maintenance/repairs.

[@Carsrus007]

I just moved to edgewater and the pool has been in renovations for months

[@ilarasantos3537]

Another one bites the dust. People need to understand that just like a house, a condominium building also needs regular maintenance and repairs.

[@adriandiaz8665]

I feel like this video is a hit piece for the condo board. This is proper preventive maintenance… replacing a roof costs 20k and with terracotta tiles it costs 50k. Any homeowner has to deal with unexpected expenses. This is exactly the type of attitude that caused Surfside. If you’re trying to assure future condo buyer that your unit is a good deal. Pointing to the refurbishments would be good for peace of mind.

[@bradleyw3771]

What has happened to ALL of the HOA FEES paid over the last 16 years???????

[@iworkout6912]

Don't forget there are still taxes, insurance and other management fees that have to be paid yearly.

[@robertdz2381]

maybe the board members were investing in IBM stocks or BTC

[@danlowe8684]

16-year-old roof needs replacing? Or is this typical for the area? If not, there should be a manufacturer warranty. The photos shown at 1:34 are minor maintenance and paint issues that likely were not noticed upon building completion and have progressed. For $21 million, I was expecting something more than the $5000 in repairs shown in the photos.

[@neilkurzman4907]

So you think those photos were everything wrong with the building???

[@danlowe8684]

@@neilkurzman4907 No...but news outlets normally produce the worst...show me the bad stuff@!!!

[@danlowe8684]

@@neilkurzman4907 Normally, one must not prod a TV station into sensationalizing a story, so yes, I do believe that.

[@neilkurzman4907]

@ And who is prodding them? This is big news in Florida. Turn out the libertarian thing doesn’t always work.

[@danlowe8684]

@@neilkurzman4907 My point was that IF the TV station had more dramatic pictures, that showed worse structural damage to the building, they likely would have featured them. I'm not going down a political road on this. 'Show me millions, not thousands in necessary repairs on a young building, and I will go from there', is all I am saying.

[@TheBeachout]

One needs to review the maintenance records for the last 16 years and see what was done. If nothing was maintained then a high rise easily could need 21 million in repairs. Buyer beware is the best course of action. What would you do if the HOA kept kicking the can down the road and the place was condemned under the new laws in the area and you lost your investment? How many assessments have there been in 16 years? I bet the increased value of the condos is easily 3-5 times the assessment value. People need to educate themselves in the true cost of home ownership especially for a condo!

[@paulasmall5113]

Are these hoa's just waiting until the buildings are falling apart to fix? You would think it would be easier on tenants to pay someone who checks building regularly then charge tenants per that fix. It may not be cheaper but would be easier then trying to pay tens of thousands at one time.

[@Taleshia315]

That is horrible. Their board completely bypassed the residents vote. This will not be the last time.

[@CRiver396]

If its really only has been just16 years then the blame must be on the contractors who built the building ....not the owners.

[@oveidasinclair982]

Those mondo condo units are going to cost a fortune to maintain, especially with Florida's new condo laws.

[@benjamindover4033]

The Champlain Towers residents repeatedly rejected repairs. This Board is acting responsibly.

[@manbtm1]

Yes, then a disaster happens and it’s all the boards fault for not taking care of the place, it’s a Catch-22 the residence. Don’t want to pay anything to repair things and the building board has the responsibility to keep the building in good condition. What a mess.

[@jeffreysmall8902]

How many condo owners go too the meeting s

[@prettygirlus9008]

I'm guessing the board got multiple estimates for the work. For that much work, giving and coordinating estimates would be a lot of work. And lowest price does not mean best value.

[@Ryan125y]

In Florida they can defer maintenance for years. Best to sell before it comes time to pay

[@bwill9704]

Fresh and Fit are in Brickell right?

[@Nursecub86]

Another reason not to buy a condo

[@gedigi9010]

Welcome to Republican Florida

[@billyhorton5779]

The whole state of Florida is one big sham!

[@johnbrennan9584]

These special assessments feel like a big scam sparked by a real tragedy. If these repair are critical in newer buildings there should be criminal investigations of the builders and the city/ county for failing to properly inspect the construction.

[@HeroFromVero]

Residents not wanting to pay for necessary changes...it's good that the residents didn't vote...they would vote with their wallets, not with their safety in mind.

[@mrparts]

If it were up to the homeowners, none of these repairs would ever get done and the building property value would drop. Who is going to buy a a condo in a building with $20 million dollars in deferred maintenance ? Nobody!

[@manbtm1]

Yes, until there is an accident or collapse, which compromises their safety, then it’s the building fault for not taking care of things. That’s how human nature works.

[@jsd354]

I paid 40K for the roof on my house alone in 2022. It’s just one of those things you pay for to avoid homelessness. Guess you could live in a tent off the road to avoid expenses.

[@Dontgo5]

i cant beileve not one person brought up why they didnt do this repairs during the 16 years. they should have caught them. and then they say the board has responsiblities regarding saftey for this assessment. what a joke

[@themoneymaker03]

Oh no 😢 now they will be a little less rich. How about you cover the same thing happening in condos with middle-class citizens already struggling to pay high HOA fees?

[@willbmcl]

this is why i am hesitant about moving to miami. i don't want to get hit with a fee because they didn't do what needed to be done and kicked the can down the road for a later date. they put all that extra money in their pocket and do not have to return it, now that it is needed.

[@alanmt1418]

Miami is an empty soul of a city. Why anyone would like to live there is beyond me.

[@JohnVelcofsky]

2 words: hot chicks.