This is going to be a very interesting election year for condos. I perceive that there is definitely going to be two types of candidates. The first will run a campaign that basically says:
CANDIDATE ONE: I have lived here for twenty years. In light of the tragedy in Surfside, the dramatic rise in property insurance, mandatory reserves starting in 2025, and all of the new inspection laws that are now in effect; I have taken time to learn these new laws by studying them, taking a Board Certification class, and I’m sorry to say that our annual assessments will be going up. I will do my best to avoid a large increase but make no mistake our assessments will be going up. I hope to get your vote.
CANDIDATE TWO: I also live here for 20 years. I was on the Board most of the time and we always ran a tight ship. I tell you that there is not a dam thing wrong with this building. Every time that a repair was needed, we made it. We don’t need to ring up a new reserve account. We can keep things the way they were; when a repair is needed we will make the repair. There is no way I will make any of you pay one dollar extra. When a repair is needed we will fix it. If we don’t have enough money we will special assess, but as far as these new laws go……..as far as I’m concerned, Tallahassee can kiss my you know what. I hope to get your vote.
And here is what I predict………………..CANDIDATE TWO WILL WIN IN A LANDSLIDE!
I’m so sorry to say that but I really think it’s true. I’m not convinced that most condominium owners learned anything from the tragedy at Champlain Towers in Surfside. They still just care about keeping the assessments low no matter what. Terraces have spalling concrete? Who cares, keep the assessments low. Thirty year old roof is leaking? Who cares? Keep the assessments low. The pool has been inoperable for two years? Who cares? Keep the assessments low. The elevator hasn’t gone up or down in six month? Who cares? Keep the assessments low.
The problem is that CANDIDATE ONE is delusional. Mandatory inspections, mandatory repairs and in two years mandatory reserves will all be required. The Board must adhere. It’s like the kid in 7th grade running for Class President and telling everyone that he promises to ensure that there will no longer be any school on Wednesday. Can he pull this off? Of course not. Will he win? I bet you he does.