[dragnet2]

Not only are insurance rates soaring, but owners are hit with huge special assessments topping $100,000.
_______________________

It’s all to ensure your safety. The government is always concerned with your safety.

[Angelino97]

It’s all to ensure your safety. The government is always concerned with your safety.

Red state.

[Alberta's Child]

I’ve worked with clients on condominium projects in several states, and I’ve learned that condominium law has some peculiar nuances that sometimes result in strange, costly, and even unfortunate circumstances.

There are three important considerations for any owner in a condominium arrangement:

1. When you buy a condominium, you are surrendering much of the control over your property to a governing body comprised of your fellow owners.

2. Condominium boards don’t have a lot of discretion in their actions. They are obligated to follow the law even when it involves costly expenditures for the association’s common elements.

3. The association’s insurance carrier has far more influence over a condo board’s decisions than it does over independent homeowners. Unlike the owner of a detached home, a condo board has a fiduciary duty to the owners that require it to carry out certain duties that may be unpopular and/or costly.

[GOPJ]

Some of these buildings aren’t safe to live in... it’s not a minor thing in Florida.

[dynachrome]

“government is always concerned with your safety.”

Is that you, Dr. Fauci? sarc of course.

[Mark17]

It’s all to ensure your safety. The government is always concerned with your safety.

Of course they are, of course they are. 👎

[tinamina]

And I’ve been blaming Ron DeSantis for this the whole time. Florida Legislature went into special section to make this happen, and he signed it into law. Our lives have been miserable ever since.
When Surfside felt down, Ron went to the insurance company and said pay the $1 billion now. The reason it fell down was because the people didn’t do their maintenance. Now we’re all pain. I’ve had special assessments for in my condo HOA but they been like $500 $300 like that. I’ve heard of others that have been huge because they deferred their maintenance.
Also, it depends on if it’s a high-rise or under three stories, I happen to live in a two-story condo.
But none of my neighbors are able to sell. I live here full-time and I bought it for cash so my only real expenses are the HOA and the insurance. I’m on a fixed income so I can’t really afford the assessments as they come along and that’s a problem I may be in the streets before I know it.