I think last night’s 60 Minutes episode made it clear that for some, living in their condominium unit may simply become unaffordable. The question is……which condos will suffer the most and which other forms of housing are most likely to retain their values and even go up. Everyone is freaking out that all condominium living…
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DEVELOPERS ARE ON THE PROWL
I’m already hearing stories of developers making low ball offers to owners in high rise condominium buildings, offering to buy units at bargain prices. Here’s why….. Developers knows that in building of 25 years or more on the coast or 30 years or more inland, owners are facing massive upcoming expenses. These include but are not…
WHY THE DIFFERENCES?
At a time when it would make sense for the condo and HOA laws to become easier to learn, they are becoming harder. Much has to do with why in the world are there such differences between the condo and HOA statutes? It’s actually ridiculous. For example: In order to get access to the official…
HAVEN’T WE BUILT ENOUGH?
This is definitely not the same Florida that it was even when I moved here in 1989. And it really isn’t the same Florida that that I remember as a kid coming down to visit my sister in the 70s. The amount of building of homes and businesses since then is like no other place…
CAN YOUR ASSOCIATION PROHIBIT OR LIMIT RENTING? PART TWO
So last week we spoke about how a condominium may pass amendments to the declaration which would in effect limit or prevent leasing, but said amendment would not apply to those who did not vote in favor of the amendment. For a long time, Florida HOAs did not have language in the HOA statute which…
AN HONEST PERSONAL UPDATE
Rumors of my demise have been greatly exaggerated. I just spent a week in the hospital — again with kidney stone issues. This is I believe the 5th time I needed some sort of surgery for this never ending painful problem. I left the hospital with a tube coming out of my right side. I still…
IF THERE EVER WAS A TIME TO GET EDUCATED
In light of the tragedy at The Champlain Towers in Surfside last year, The Florida Legislature, to its credit, passed massive condominium reform regarding safety, inspections and reserves. These laws are confusing to those who work in the industry every day, never mind to those who serve on condo Boards throughout the state. The Florida…
CAN YOUR ASSOCIATION PROHIBIT OR LIMIT RENTING?
I am getting swamped lately with requests from both condos and HOAs as to how to limit the number of homes or units that are being rented. People are getting real tired of Air BNB type scenarios and want to know how they can put a stop to it. Some background on this topic is…
A PERSONAL LETDOWN
So this week, my mom asks me to attend her Board meeting because the agenda says they will speak about the budget for 2023. She knows I have been babbling a lot lately about how assessments are going to soar and she wants to know if her community is set for the troubles I’m predicting. …
LET’S GO TO THE NUMBERS
A few weeks ago on the Condo Craze and HOAs radio show, I was sent a chart by a listener that showed that just under 50% of condominiums were funding a reserve account in full each month. As I was broadcasting this information, I felt that it sounded a little high. It turned out that…