Condo owners blindsided by $100K assessment fees in Volusia County
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Published 2024-06-26
All Comments (21)
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You won’t be able to give a condo away next year.
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They're rushing to sell their condos, but nobody wants them.
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They put off maintenance for years. Time to pay.
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Why are owners surprised by this? You lived on the cheap for decades in an environment that erodes steel and concrete. Instead of saving for repairs, or keeping them up along the way, now it's a lump sum. It was a gamble and unfortunately you lost. No dumping it on a future owner. Or worse. A catastrophe.
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This is a failure of the state Government at multiple levels. They know the environment and the stress and wear it can put on buildings. They should have made the Condo Association require to have much larger reserves for maintenance, but that would meant higher monthly HOA fees which impact sales of the units. It is the old pay me now or pay me later story. And paying later is always more painful.
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People won't be able to even sell a condo with that millstone strapped to it.
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They want to live there they need to pay for making sure it’s safe. Don’t expect us that don’t live on the water to pay for it. Should’ve stayed up north.
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I got lucky and unloaded my Tampa condo years ago. Special assessments were adding up back then too.
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Wow! A news reporter who can break down an issue clearly with details in two minutes. Refreshing … WKMG hit the jackpot with this young lady.
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I am sure Blackrock will snap them up on the cheap.
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He's a snowbird I think he can afford it
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Well HOA managers have been misusing those fees after decades instead of towards maintaining the buildings. Not rocket science
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“Deferred maintenance “. Always catches up with you.
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Too many Condo Boards have been living “on the cheap” and deferring maintenance for so long… Sad part is those original owners are dead and new owners are getting stuck!!
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Disposable housing! Welcome to the garbage of Florida!
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Your humor and wit make this video so entertaining to watch.😄
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Unfortunately, much of this is the fault of the condo management/boards of directors as they have passed the buck year after year and not fully funded their reserves as they have always been required to do. Now they have been caught with their pants down because the condo collapse in Surfside has resulted in this law where all of the condos have to be inspected and come into compliance NOW.
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I would never buy a condo. It’s not really yours. U are not the boss. F that.
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Serviced elevators on the beach for years. We had a saying that you can spend your money or spend your elevators. Those who chose the latter were like the boards of many condos, kicking the can down the road until a HUGE expense happens. Little sympathy for those who certainly knew better but hoped they could sell in time and dodge the inevitable.
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Everyone should have expected this after the surface collapse! I don’t even live in a condo and saw this coming miles away!!
