Report: Condo owners grapple with double-digit spike in HOA dues since last year

[@jerrypolverino6025]

1. NEVER BUY A CONDO IN FLORIDA. 2. NEVER BUY A CONDO IN FLORIDA. 3. NEVER BUY A CONDO IN FLORIDA.

[@Complexanxiety]

AND I MEAN NEVER!

[@PaulLibrand-rj7np]

4. NEVER BUY A CONDO IN FLORIDA

[@Kartzchen]

Never buy a condo in California. Never buy a condo anywhere.

[@UnCannyValley67]

5. NEVER BUY ANYTHING IN DESANTIS’ FLORIDA

[@CRiver396]

what should i buy?

[@Surferjo]

$850.00 HOA a month for a condo we own NO pool or clubhouse and no amenities grass cut once a week free water NOT WORTH IT....

[@Whatareyoudoingwithyourlife]

Find out what % of your $850.00 HOA fee is going into the Reserve fund for future repairs of the building. The reason why so many condo HOA fees have gone up dramatically is because the Condo boards/condo owners were not funding the Reserve funds. Meaning in the past owners end up with massive assesment fees all at once. Its a good thing to fund the Reserve Fund. Less assement fees down the road when you have to fork out say $10,000 all at once. By increasing the Reserve fund monthly (with increase HOA fees) you have a smaller fee each month and wont have to worry about huge assenment fees. Its very common in the past for HOA board members to not increase HOA fees to include the right amount of reserve fees for future projects to keep the building in proper order.

[@user-rw311]

@@Surferjo scam city

[@Kartzchen]

HOA is ridiculous. They run down the properties, fail to provide basic routine maintenance. Then, raise rates and issue special assessments to try and make up for lost time.

[@TheDukens90]

Why not buy a house Call it a day

[@jasonsmith530]

After Surfside the low HOA fees are finished

[@yellowbird5411]

When I came back to Florida in 2000, I was going to buy a condo. I got with a real estate company and told my agent I wanted to buy a condo. He said, "You don't want to buy a condo." I told him I did. "You don't want to buy a condo," he repeated. I looked at a house near a small lake, and told him I wanted to make an offer, and he said, "You don't want this house." Apparently there would have been flooding problems and flood insurance. So I ended up building a house on an empty lot. I only had $7,000 to my name for down payment, and it was enough to get my house built back then. It was a wonderful purchase, and when I sold it, it sold for much more than the $49,000 I built it for. It was a two bedroom, two bath open floor plan, cinder block. I loved that house and was there for 17 years. Condos, in the time I have been back here have certainly had their issues. This crisis is hitting people very hard, and I feel so badly that many will have to sell. I am so glad I got a good realtor who steered me the right way.

[@marisortiz273]

You are so blessed to have had an honest realtor!!

[@erocker78]

Back in the good ole days.

[@NikkiNole]

We also bought a lot and built a brand new house. Total price $220,000. Right after building, it was appraised for $400,000. Cheaper to build a brand new home than buying one already built.

[@celestialnubian]

@yellowbird5411 Regardless of industry, professionals are professionals for a reason. I've spent a lot of time trying to save my clients from their own ridiculous ideas.

[@yellowbird5411]

@@celestialnubian And that is what we are supposed to do, in our field of knowledge. People don't know everything, and the little they think they know can get them into trouble. It is very rewarding to be able to inform a client or patient about things so they can help themselves, too. We can make a difference to each other - change lives!

[@jtschnow9253]

Salt water eats thru everything...previous owners kicked the can down the road too long for maintenance...small cracks become big cracks...

[@joshuapaul349]

How are there bridges made of concrete that are over 100 years old?

[@joshuapaul349]

@@Gone_huntingg is it the Brooklyn or San Francisco Bay Bridges? Aww, you didn't have to delete your comment little buddy.

[@user-rw311]

When they say real estate is a good investment they don't mean Florida condos. Only a sucker would buy a condo in a building. Buy a single family home or a one story townhouse house and you can't go wrong. DONT BUY IN A BUILDING ITS A BIG MISTAKE

[@bubbajones4522]

As someone who invests in Florida condos I can say this is a big part of the issue. The bigger issue is insurance and tax increases. Since all property values doubled the government now thinks it deserves to double our taxes. Also the insurance lobby gets whatever it wants from the Florida legislature.

[@vincentkosik403]

Different standards and design...lots of buildings were built fast and cheap without maintenance

[@Resultsnottalk]

No one will buy. Give the keys to the bank if your equity is low

[@sootymammal2891]

Get with your neighbors and disband your HOA

[@thomasryan2679]

With no organization or leadership, that will backfire overnight

[@paulelliott4590]

Let me see if I understand what is happening here. Condo owners are living in buildings, which were mostly built before the 1980s. The buildings are next to the ocean. Ocean water, blowing wind, corrosive salt are deteriorating the concrete and steel structures of the buildings. Inflation has impacted every part of society. Food, fuel, clothing, construction costs and other goods. The condo owners are shocked at the increase of HOA dues. They are living in a building that is slowly being destroyed, by the ocean view that they cherish. The price of living in paradise. Nothing lasts forever.

[@bobbylincoln6949]

no lies told

[@jsundberg5542]

what people don't realize is that if a collapse happens again all high rise owners/tenants are gonna be faced with this dilemma!!

[@mike-uw6wt]

Thanks Ron.

[@francismarion6400]

yes, no more building collapses.

[@mariatorres9789]

You'll own nothing, and be happy. Hmm, sounds deliberate.

[@isartoraplatz]

Exactly

[@neilkurzman4907]

Yes, these homeowners deliberately skimp on maintenance and reserves. It makes you think that a lot of people are just fiscally irresponsible. And are looking for somebody else to blame.

[@dirostudios]

In California after the destructive Northridge earthquake, my boss got a Special Assessment of $10,000 due immediately, along with 100s of other condo owners to repair the building. They had no choice but to pay or move. 😳

[@user-rw311]

When they say real estate is a good investment they don't mean Florida condos. Only a sucker would buy a condo in a building. Buy a single family home or a one story townhouse house and you can't go wrong. DONT BUY IN A BUILDING ITS A BIG MISTAKE

[@Irokwe-o4d]

I completely agree👍👍

[@Patrick-yh5yd]

My sister saw this coming and sold last year and moved to South Carolina.

[@abmia77]

300% insurance increase the last 3 years.

[@Gn777-rk5kg]

I have two jobs. My daily job I get paid good money I have 💯 health insurance I have a new car bought cash nor car payment, I live in the car and I love it. I eat what I want. I travel first class and I go on cruises. In today age owning a house is not worth it specially a condo forget it. The only thing I take care of it is my baby car and I am very happy. I don’t have no headache.

[@kyleshecut1791]

Imagine being grown and have HOA telling you what to do

[@drinny26]

You must be a renter 😂

[@earlthepearl4161]

​@@drinny26you must be a child. Anything relevant to add, or just that shyte?

[@nhernandez925]

@@drinny26imagine being able to afford a home but choose to buy in an his community instead. I own a home in a non his community and it’s so nice not having people telling me what I can and cannot do with my home.

[@drinny26]

Sell the buildings. I wouldnt pay to fix a 30yr old building and nobody buying a 30yr old condo.

[@LuckyDuckie115]

i tell my family in California that housing is more expensive in Florida. Yeah the up front cost is more in cali, but you arent paying $500-1000 monthly HOA fees and not including special assessments

[@sunkat2337]

For now.

[@johncarnettie6804]

Where is the governor at..

[@davidthaler7018]

Doing battle with The Mouse and The Woke, banning books, and keeping drag queens from reading to kids ( well..makes sense since he’s banning books).

[@davidthaler7018]

Doing battle with The Mouse and The Woke, banning books, and keeping drag queens from reading to kids ( which makes sense since he’s banning books). Y’know…real stuff that matters to condo owners…

[@ryanadams4065]

The crazy thing is the majority of these properties are really just old and outdated apartments that they call condos. The owners do that to tag on these absurd HOA fees for properties they know aren't worth much of anything.

[@NikkiNole]

Are they raising the HOA prices because of the laws that are now in place from the Champlain Tower collapse?

[@johncarnettie6804]

42%of Florida is HOA-

[@earlthepearl4161]

This is the result of remotely believing that any entities have the remote interests in your well-being, or you can ignorantly trust to act in your behalf. Entertainment over education is a real b itchy in the long-term.

[@Kartzchen]

Heck, HOA boards don't understand routine maintenance is necessary. They rather fine you because your porch has a plant on it.

[@paul2081ok]

Kentucky and Oklahoma welcome Floridians ❤❤

[@shortattentionspangarage1312]

If I leave here I'm going way further north.

[@paul2081ok]

@@shortattentionspangarage1312 Up north is too much snow..

[@seang9450]

I just don't want to leave saltwater fishing behind. 😢

[@findingretirement6649]

In other words Third World America welcomes you... no thanks.

[@paul2081ok]

@@findingretirement6649 These are wonderful states!

[@wondereagle]

So one Florida condo collapsed, and brought a good chunk of the others down with it.

[@PaulLibrand-rj7np]

Nice.

[@charliewilliams2735]

Just sue them for extortion

[@nhernandez925]

Good thing my cousin sold his two properties when they were still worth a lot. He knew it was coming and dipped before all these fees went up.

[@wayneredd6776]

Where is our governor?

[@MB-rr1fb]

All will be bought by corporate funds who will rent the units out, price fixing all the way

[@jasoncrandall73]

RealPage. Look them up. Already the Arizona AG & the DC AG have been looking into them.

[@neilkurzman4907]

Why would the corporations buy a dilapidated building and try and keep it. No what happens is they sell out to a developer who demolishes the building and put up a new more expensive one.

[@jasoncrandall73]

@neilkurzman4907 It's the land. Multi million dollar new condos. ❤️

[@neilkurzman4907]

@@jasoncrandall73 you mean, the land is the only thing that’s going to save some of these people. The cost to repair their neglected building may be more than they can afford in which case they can sell out to a developer. This is already happened in a few buildings. I’m not sure why some people think that makes the new developer evil. The former owners of the building could have paid to keep it maintained all these years, but chose to let it become too dilapidated to repair.

[@jasoncrandall73]

@@neilkurzman4907 Beachfront/Waterfront property. Do you like in Florida or by the ocean? New multi million dollar condos. Gee what's there now? Older not so high priced condos. Under DeSantis there are 2 big groups that have DeSantis & his attention (& give him millions politically)........ Big Developers & Insurance companies.

[@johncoyne7004]

Florida has a homestead 3% maximum on property taxes and no state income tax. Please , tell me why I’d complain 🤷‍♂️🇺🇸😊

[@Kartzchen]

Hoa's don't actually take care of your property, but you pay them anyway. There needs to be accountability for HOAs. Or, none.

[@ltcmoose2001]

In the development of many military weapons and equipment, we do a salt fog test that simulates corrosion which weapon systems could fail. Florida condo's on salt water/beach are in a permanent salt fog test. These building were never engineered for that.

[@Kartzchen]

Nor do the HOA's understand what this means for basic maintenance. The board members are not equipped with any knowledge that is needed to care for structures.

[@highidontknowyou]

there should be an option to contribute labor to the HOA's necessities by the residents themselves to avoid any fees or assessments, make them essentially run like Kibbutzim< that would/could solve the state wide problem

[@jsd354]

I’m wondering about the 3 plus story condominium structural reports required by State Law in Florida.there are many buildings in Florida that are 3 or more stories high in Florida. Office buildings, banks, downtown skyscrapers etc. are they required to have inspections to determine their structural integrity? Many of these buildings are over 100 years old.

[@countbenjamin1442]

No but usually private companies have money if necessary or insurance to make updates. They also don't house usually hundreds of people's homes so there isn't the need as much to inspect them

[@earlthepearl4161]

Spot on,......cheers.

[@earlthepearl4161]

​@@countbenjamin1442wtf over? That is clown world logic child.

[@Kartzchen]

Those were the times when developers were not lining the pants of government officials to ignore code violations. Then, add the lack of structural knowledge of HOA boards. These people don't understand that basic maintenance is not an option, but a must-do in saltwater towns. They put off maintenance, then cry when this happens. Do everything you can to preserve structures in that town or regret it!

[@francismarion6400]

I don't know of any tall buildings in Florida that are 100 years old. Where are those?

[@iveyhealth2266]

Dude, who's going to purchase that ???😅😅😅

[@biglou9776]

I'm glad our state government is on top of this (Sarcasm)

[@justincheney5125]

Next years session in March???? That's one of the problems in politics. These suckers are on vacation more than they work. There needs to be reform from the ground up

[@tofuyam7361]

HOA+Insurance+tax is almost cost of an apartment

[@bigcahuna42366]

I don't understand how the lower and middle class in Florida are making it work

[@AndrewJMar]

If we ALL stop paying at once, what can they do?

[@Kartzchen]

Basically, their job was to have basic maintenance scheduled, checked on and to maintain the integrity of the structures. And, emergencies handle to maintain ithe ntegrity of the structure (building). Was that done? Nope. I honestly would not pay and hire a lawyer. On top of that I'd look to see why these buildings were not built to code. This is a serious issue. Developers paying politicians to look the other way when it comes down to code..is this what really happened? The people need to join and create a committee to investigate HOAs and building policies, code standards, and violations. When there is such a large number of complexes with structural issues, then look for who performed the work. Also, hold the HOAs feet to tge fire because they are failing to do basic maintenance to ensure the longevity of the structures. This issue is not new and HOAs must be held accountable. There is a lack of oversight with HOAs.

[@AndrewJMar]

@Kartzchen They don't do that. Basic maintenance is simply changing ac filters. And when a repair needs to be done, the whole building has to pay an "assessment" fee to pay for it. These hoa fees never actually go to where they are supposed to. It is simply a scam.

[@francismarion6400]

Condemn the building.

[@AndrewJMar]

@@francismarion6400 all of them.

[@RaySmith79]

Buying a condo near the sea is wise. I seen what happens to homes. I can just imagine what happens to a cement condo.

[@johnkruszewski7064]

Living the dream! Under the misguiding influence of an improper vision.

[@johncoyne7004]

Condo ? Maybe not but locked in property tax increases at 3% a year maximum and no state income tax ,… Sweet ! Sometimes the media just needs a story- god forbid a condo association act responsible with their owners 😢

[@allthingsnu4673]

What a nightmare.

[@ScottPearson-wl4tu]

I can hardly pay for rent 😔 Florida is rediculas for renters way over priced only for the wealthy 🤑 down here i hate it and people are rude and nasty 😢

[@fredsmith4438]

I wonder why Chinese investors aren't jumping on these properties, or, maybe they are and are being declined.

[@corinneanderson1273]

As ysual,companies wait until its too late,rather than continuosly putting funds aside for major inspections and ketting people know about this in a more reasonable manner,building contingency funds as they operate.

[@justaperson8560]

Shouldn’t that be on the building owner what kind of bullshit is this people just getting ripped off cause they don’t know their rights or the law

[@Kartzchen]

They have HOA and the board has no idea routine maintenance is what keeps the costs down. The HOA board is often run by people that more worried about what color chair is on your porch than keeping the wood from rotting. Structural integrity?!? Heck, they just have no integrity!

[@airmanma]

Florida is no paradise. No thanks!!!!!

[@meandshe1518]

It's like that on Myrtle Beach. Look at oceanside condos and you'll see $1000.

[@findingretirement6649]

Welcome to DeSantis Land in the middle of hurricane alley..

[@francismarion6400]

clever

[@Gone_huntingg]

But it’s still cheaper than up north.

[@americanedokko2782]

I’ll buy a condo in Florida if I’m suicidal…

[@SamBrown-zl4hn]

Get the tents ready.. Homeless camps at the beach..

[@MrDarthvis]

Join the club. Same high hoa fees in CA

[@venom5809]

There is no such thing as a board certified Realtor, you have boards in medicine, not real estate. 🤦‍♂ Florida, where education goes to die. 😂

[@Steve-yo4ld]

No, but there is an educational licensing process and a mandatory test! As well as mandatory recertification for licensing renewals!👌

[@Kartzchen]

Sounds like a big deal, but that's not really since many people are already certified and the rest are certifiable.​@@Steve-yo4ld

[@francismarion6400]

there's a board that certifies contractors.

[@JM-ps6le]

Good. People need to pay for greed and idiocy. Should’ve never been so many condos.

[@JimmyDanieley]

Welcome to the world of the rich pay or move 🎉

[@tazpupper7828]

I’m sure if you don’t meet any of these state requirements you’ll be heavily fined or put out of business.

[@Kartzchen]

These HOA companies should be out of business

[@miamiSincar]

why ron desatan dont do anything banned HOA

[@diannh2894]

Sounds like another developer scheme. Change my mind.

[@jkstar19]

DeSatanis would rather control your kids and that failed.

[@fishydubsfishing6516]

They ever get trapped in an HOA

[@parkependleton6453]

Legalize Sarco pods.

[@AR-ly7yt]

You never really own anything...

[@CRiver396]

mine is 2 floors and still high

[@maggotman2024]

The true cost of “paradise!”

[@MoparMarty814]

It serves them right for living in a hoa.

[@MCC876]

The two states people dreamed of moving to were California and Florida, both now unaffordable. What’s the next dream state, Missouri?

[@Kartzchen]

Texas. Watch the population grow.

[@agentcovert]

Wow..luxury condo's are too expensive..what a shame..guess they can't buy a few new luxury cars this year..just going to have to drive last year's luxury cars..

[@prettygirlus9008]

A "Board-certified realtor" 🤣🤣🤣

[@vincentkosik403]

Like Betty White channel 10 news..board certified weather girl haha

[@jasoncrandall73]

I get the new state law. But it wasn't written to grandfather in condos that were on top of their maintenance. This new law was written to bankrupt as many older condos as possible (favor the big developers).

[@neilkurzman4907]

Do you have some issue with understanding how money works. These are condominium complexes that did not put away money for repairs. Nobody’s out to get them. The states trying to stop more buildings from collapsing and killing the residence. Well run condos already have reserves and have kept up on the repairs and this doesn’t affect them at all.

[@jasoncrandall73]

@neilkurzman4907 I lived in a Condo Association for 10 years. There are some that have kicked the can down the road. There are the rest that are thrown into the same bucket that are all treated the same. If a building has been maintained those should be placed into another category & given more time. There are structural issues & there are cosmetic/non structural issues.

[@neilkurzman4907]

@@jasoncrandall73 The buildings are required to bring their maintenance up-to-date and their reserves. There’s no second category if you maintain the building and kept sufficient reserves then this new law has no effect on a well run condominium building.

[@countbenjamin1442]

If they were on top of their maintenance, they don't need to have massive fund increases to cover any issues as there shouldn't be any issues. It's not meant to bankrupt places because look at how many places are finding 30-40 million that they don't have sitting there in structural repair so they don't fall down. It's not about helping developers because who's going to want to spend the money to have a brand new building put up that still has to completely fund itself

[@jasoncrandall73]

@countbenjamin1442 The law requires reserves to be placed in an account upfront for a total 100% worst-case scenarios. The Condo Association, where I lived at could put reserves in for a new roof in, say, 20 years & they put aside so much every year. Now it has to be in there immediately. The initial reserves for unknowns were a certain lower amount. Now they have to have for basically everything. It's like you having full coverage on your home but the state requiring you to have your full house value in the bank + extra.

[@hextheripper]

Land grab.

[@neanam]

I'll buy a condo from them...for a hunnit dollar

[@neilkurzman4907]

You realize after that, you still have to pay the assessment

[@Dis2good]

@@neilkurzman4907and YOU realize that this comment was meant to be a joke, right? 🙄

[@neilkurzman4907]

@@Dis2good Unfortunately, sarcasm doesn’t work that well in print. And it’s even more problematic when people are posting the same thing but they’re dead serious. Some people have a problem anytime the letters HOA are joined together.

[@neanam]

I was being sarcastic I know it's hard to detect when reading text..... however i wonder if they can air bnb the property (which I hate Airbnb)

[@PaulLibrand-rj7np]

Desantis talks a good game, but look at all the Republicans scrambling for cover on this disaster.

[@bmanagement4657]

Living on a giant sandbar................

[@Jeffrey-hk4fq]

🤔Move to Iowa or Nebraska 🌽

[@parranoya100]

If you canna do the bouncy you're a tim.

[@bobbybrown6646]

Where is all the data on the apartment buildings being bought out?

[@neilkurzman4907]

They are not apartment buildings they’re condominiums. This is not conspiracy. This is years of neglect y the owners, trying to save a few bucks. They did this to themselves.

[@nesq4104]

The hotels are quietly sold at half off.. silent depression

[@bobbybrown6646]

@@neilkurzman4907. What? This answer is illiterate does not make sense.

[@jvp2916]

You should google it and share with us what you find. thanks!

[@neilkurzman4907]

@@bobbybrown6646 fixed. These are condominiums. The people who live in them are the owners. And they did this to themselves.

[@CJ_222]

HOA for a condo?? lmaoooo that actually makes no sense.

[@SC-or2ek]

Enjoy your Florida sunshine 🌞. Must be a beautiful view From high rise condo 😅 Just be careful don't holding the bag .😂

[@muhammad-bin-american]

I say pray...a lot.

[@zeke5491]

Glory days are gone, inflation and government spending is affecting all of us

[@jerrypolverino6025]

@@zeke5491 spending on wars and Israel, not us.

[@francismarion6400]

​@@jerrypolverino6025and the dreamers.

[@vincentkosik403]

HOA, HOA....🤭

[@pg8393]

What a racket 😂.

[@MANUELPEREZ-ub9hv]

Florida.😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

[@indygothicsociety9716]

😂😂😂😂😂

[@KennethGreenCMP]

If only the liberal tax everyone, pass laws that cost everyday people thousands of dollars, hurt working people politicians - we need to vote them out and replace with strong small government Republicans that will stand up and solve these problems.

[@jillclarke7264]

Republicans implemented these laws. Why don't you educate yourself?

[@neilkurzman4907]

Are you a bot or just a knee-jerk no matter what. This is Florida or you saying Florida has gone liberal. This is years of conservative neglect. Buildings were allowed to not do maintenance and not keep reserves for maintenance. You can kick the can down the road for a long time, but eventually you reach the end of the road.

[@chrisphilips2768]

@@neilkurzman4907 just like senile Joe Biden running up the national deficit.

[@shortattentionspangarage1312]

Who do you think came up with these new laws, Biden? This was your precious Governor Almighty, Desantis.

[@jvp2916]

You do know that Florida is run by small government Republicans? Their solution to this problem was to make buildings (HOA's) responsible for their maintenance because they weren't doing it themselves. That's what happens when people don't do the responsible thing and defer reserves and maintenance every year as long as possible. Pretty simple.

[@henrypacheco9048]

Where they moving?? Is a house cheaper??