There is a lot of misinformation floating around FR on the Miami condominium collapse. As a high-rise condominium manager, this story hit home. So here is a quick primer to help people combat fake news.First, this is not an apartment complex. In an apartment complex, an investor or group of investors owns the building and everyone is a transient tenant. It is a for-profit business. If there are major repairs needed, landlords can raise the rents to cover repairs.This is a condominium. Each unit has a separate owner, they purchase it with a mortgage or cash. Every month, unit pay...
