Jacksonville condo owners shocked after being told they need to pay $13,000 by summer to make re...
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- Опубліковано 11 лют 2024
- Owners at a Jacksonville condo complex are stressed because they were recently told they need to pay up to $13,000 for improvements by this summer.
Where did all of the HOA fees go for the past 10 years????
This condo association board & Property management has clearly NOT done their job to keep these condos & association up to code. SHAME ON THEM.
Start investing the board everyone. Where did all the HOA feeds go the past 10 years??
Exactly
@@tw8464 Exactly Wrong!!! As an HOA member it is YOUR responsibility to be educated on the costs and maintenance needs. Did you hear any of those feckless owners tell you the last time they went to an HOA meeting and when they voted on the budget? Exactly.
@@chrispnw2547 YOU MAY BE EXACTLY WRONG. DO YOU KNOW THIS CONDO ASSOCIATES LAWS? NOPE EVERY ASSOCIATION IS DIFFERENT. ANOTHER THING, FOR ALL YOU KNOW, THE BOARD AND THE HIRED MANAGMENT COMPANY EMBEZZELED THE MONEY.
@@nunya2954 All Caps = My brain is running on low energy and I am not that bright. Good Luck.
@@chrispnw2547 LOL - you are another one that is under the delusion that all CAPS mean someone is mad or angry. News Flashi, CAPS are also used to MAKE A POINT. People just hop on the same bandwagon like sheep and follow the leader with now knowledge about what they are following.
Should have spoken up 13 yrs. ago. What was being done with assoc. fees?
The answer is, they didn’t collect enough money to do the repairs because the residence preferred the low charges instead.
My condo was like that many decades ago. Our assessment wasn’t as bad as this one, but there was a lot of deferred maintenance.
The money they have been collecting has been for the routine operation of the building. Repairs normally require a special assessment or owner approval to use contingent funds (if they exist).
that place is a dump, yet she wonders why threre's an assessment.
I think its obvious to the husband and he's tried to explain it but she is dead set on the money coming from 'somewhere else.' You can see it on his face as shes talking to the reporter.
I think that is because they pay condo dues annually specifically for the maintenance of the property which was not done and now they are being hit with a huge repair bill without any itemization of that repair bill.
@@MA-mh1vsOr nothing is collected for repair of structures. They had the opportunity to go to board meetings or even sit on the board. This is 100% their own fault.
@@francismarion6400 I have never heard of a condo that wasn't collecting dues and those dues are for maintenance. If indeed they have lived there all this time paying no dues then they have no reason to complain about paying now.
Nobody asked any questions about deferred maintenance when dues were low, and now they wake up, shame on owners for not getting a more effective Board
How exactly do you know the dues were low? What was the amount they all paid added up to over the years? You don't think that money would've paid for upkeep?
Good point tho, they could see maintenance wasn't being done and the clubhouse closed, so you have a point there.
Or being more involved in their HOA.
Spot on, nobody wants to pay the dues but then when 30 years go by and the place is ready to collapse, they get hit with a big bill. It’s a catch 22, nobody wants to be on the board either.
@@tw8464
He knows the exact same way you know that the funds warrant embezzled.
I lived in my condo for over 30 years and have seen these things happen. My Condo deferred maintenance and we had some assessments to fix the damage lately. The current board has been keeping up with repairs.
They've BEEN paying for repairs , upkeep and maintenance , it is not their fault that the money hasnt been spent on what it was for , why should they have to pay for it twice ? Based on the state of the place and the fact that the clubhouse has been locked for over 20 years clearly nothing has been done , no maintenance or even basic repairs . The condo board should have been held accountable long before it got to this state .
Exactly
@@YuYu-we2ys maybe. Or maybe they have been paying and the money was being stolen.
Don’t by into condos with HOA if you see they aren’t keeping up the building.
@@YuYu-we2ys NO MANAGEMENT COMPANY IS GOING TO LET FEES GO UNPAID. SO WHERE IS THE MONEY? MORE THAN LIKELY IT HAS BEEN EMBEZZELED
@@godschild6172 💯. Treat a condo org with the scrutiny of a background check for a security clearance. Poor maintenance on the building or the financials? Just say NO THANKS!
Residents have questions. Who stole the money is most common.
Nailed it.
The answer is the resident stole the money. By not insisting their common charges, be raised to do the maintenance in the past. The longer you leave it the more it cost to fix.
No one stole the money. Usually what happens is that owners vote down routine maintenance until the problems threaten the integrity of the building, and then they are facing a sudden huge repair bill. This happens all the time in HOAs. They don't want to pay for routine stuff because they figure by the time the problem becomes too big to ignore any further, they will either be dead or have moved away.
There aren't enough details in this report to know who is responsible for this. There are more questions than answers. Why are many of these "HOAs" raising the "HOA" rent now quite high? Some are getting close to $1,000 per month in "HOA" RENT. Are all these residents of "HOAs" all voting to raise their fees? But many other reports out there indicate the rent just increases without the residents' direct vote. It's being decided by the "HOA" president and property management company. Do we even know the residents were directly voting on their "HOA" rent? How much were they paying per month and for how many years? Where exactly was that money going? We need all the actual real details before we can say for sure one way or another. But what is clear is these "HOAs" do pocket people's money and there is little to no oversight.
@tw8464 HOA fees are not "rent". It is your portion of the operational budget of the strata. The budget is listed out as line item details at the AGM, everyone can see how much is being spent and on what.
Damn...even apartment complexes don't keep the clubhouses closed like that..but 20 years, WTF is really going on there.
Someone stealing the money most likely
The clubhouse is probably closed because it costs money to operate, money the owners were not willing to spend.
@@nunya2954 That’s what HOA’s are good for….stealing money. Will never live in an HOA neighborhood again!
@@nunya2954their fees most likely were just enough for landscaping and not for reserve fund. Now, it’s a law in Florida to have reserve fund and keep buildings in some minimum maintenance- nobody wants to pay for that.
It’s hot and humid in Jacksonville- shown repairs are routine and should be performed on yearly basis
If I were the owners, I would demand an audit of where the HOA fees are being spent. There are some shady things going on there.
Have the residents been saying things about the issues for years or are they just now complaining because a law says they have to repair
Real estate lawyer here. I promise they’ve been complaining for years. The new law is just the mechanism they can finally use to force accountability and try to get some of their property value back.
Would you silently pay for a clubhouse you can’t use?
These condo owners have no one to blame but themselves. As with most HOAs , few participate, no one wants to pay more, and maintenance gets deferred year-after year. The reporter won't ask Sandy Sherman the obvious question: You are pointing to dry rot, did you have a conversation with the HOA/Property manager about getting that repaired and the cost to the owners (which you are one)? Crickets!!!! She and her husband sitting on the sofa day-in-day-out watching reality TV shows while their reality is being neglected.
You're right. I'm guilty of this as well. I do not participate in anything related to my HOA. I have no idea what goes on, and I don't even know my neighbors. They send financial information every January, but I understand almost nothing. I just pay my ever increasing dues hoping everything is ok!
@@microbios8586time to step up! 😊
@@microbios8586that's bad you should get involved with your schedule hoa meeetings & elections. Remeber the economy runs on ignorance, the more you know the better financially you will be and less likley people can take advantage of you and your community
That place is a tear down. They should pray that there is some value in the land.
Since it's a condo, the resident's don't own the land.
@@kibblenbits
Yes, if you defer maintenance long enough. The cost of repairs increase rapidly. Water can do an incredible amount of damage
The reason I do not want to buy a condo
A lot of condos being sold in my area are old multi-unit apartment complexes that got sold and divided up and sold individually as condos. I would NEVER buy a condo only because when I rent an apartment and have to share walls like that there's always zero noise insulation and I always get neighbors that want to have parties at 3am on a Wednesday. At least you can move when your lease is up. Now imagine living in that same situation but now you have a mortgage instead of just a lease.
@@Thingsyourollupplus HOAs tend to be significantly stricker and more corrupt in small lot, attached housing spaces
The condo board must give owners a detail of what they need to fix and show the price of each.
Exactly
They do have that. In these situations an engineering firm is hired to identify the problem, propose the solution and provide a cost estimate for the appropriate repairs. In this case that probably involves replacing the roof and skin of the building. These things are routine and have to be done every 20 or 30 years depending on the climatic conditions locally.
I will bet their HOA fees were super affordable for the last 20 years and at every meeting the residents fought the board on spending money for maintenance. Now that has finally caught up to them and they act dumfounded for the cameras while the place looks like it should be condemned years ago. Time to pay the Piper.
Don't build wooden housing in a swamp
ITs a scam. They will take the money and go to SPLITSVILE GHANA
And don't buy into a condominium which was a sh!thole even 20 years ago...when the clubhouse closed. And you had to be aware of the all the rot and roof issues going on for years. Frankly, half a million dollars seems cheap. But details on "structural repairs" certainly need to be itemized. A bunch of now whining idiots, it seems.
It is up to each condo owner to review quarterly reports and be co-managers of their specific developments. Apparently, everyone is too lazy to accept those responsibilities, so this is what you "pay" for as a result!
I agree with you. Many condo-owners have a renters mentality counting on the management and board to do everything for them.
Corruption knows no bounds.
Well put ✌🏾
ITs a scam. They will take the money and go to SPLITSVILE GHANA
More like condo owners balked every time the HOA tried to raise monthly fees to pay for repairs.
Its like pulling teeth. I was a condo prez but I found if you eep the property perfecct, painting, cleaning, mowing, flowers, repairs and transparency and a newsletter. When you ask for more money they are more trusting. @@grayrabbit2211
And why didn’t the Board take out a loan with 10-15 yr repayment, we do it all the time for deferred maintenance, repayment very low
Because owners don't want to pay. Even with low repayment fees.
Would you loan money to that condo?
Because the board CAN'T take out a loan. They have to get the money from the owners, who will either have the cash on hand or will have to get a mortgage to cover the cost.
Most of the HOA are not fundable. The accounting is outdated, no P&L statements - banks are not idiots to throw the money away.
HOA is a non profit, however, very seldom they have proper accounting and get audited yearly as supposed to, especially these old ones.
Sounds like yall getting pushed out and a brand new luxury complex will be built.
Only $500000? That seems cheap. That place is a dump.
There may not be major structural issues.
agreed....was thinking the same thing. Only $500k will take care of all of that?
LOL, I was thinking the same thing…
She's upset about the assessment then shows that the place is a dump? Who does she think is going to pay for the repairs? I have lived in an old condo complex. Everyone wants low condo fees and they don't want to fix things. They push the can down the road until there are serious problems. Whether people like it or not there has to be a sizeable reserve to fix things so these huge assessments don't happen!
It’s clear structural repairs are needed and not postponed like you see here.
However, as an owner you should be able to see HOA reports detailing the costs, what’s being done and who it’s being contracted out to.
This story doesn’t mention any meetings or contact with property management. That would probably complete this story, instead of leaving the couple hanging…and us too.
There would have been an AGM or extraodinary condo meeting to approve the expenditure. The only way these people don't know anything is if they just ignored the meeting and are now feigning ignorance, probably because they don't have the money and don't want to pay, so are stalling
Avoid HOAS if at all possible.
Condos especially
Exactly
Don’t you mean avoid poorly run condominiums?
The ones that defer maintenance, and don’t put any money away for the future
Yes it really needs lots of repairs and that costs a lot.
I remember looking at these when first built in the late 1980s - loved the place! It was out of our meager price range unfortunately. Sad to see this.
Buying a condo is worst than buying a timeshare and that is a really bad mistake. You never really own either free and clear. Shalom
I don't know about worse than a timeshare, but yes they suuuck.
ITs a scam. They will take the money and go to SPLITSVILE GHANA
Buying a house is worse than buying the timeshare. It’s a really bad mistake because you have to make pay to maintain the house for as long as you own it.
Everything requires maintenance even if you want to pretend that it’s a rip off to maintain your property.
@@neilkurzman4907Yeah you're better off paying rent until the day you freaking die. You have never owned a home. Got it. Shalom
Owning any property requires maintenance and paying taxes, so even though you own it it can be taken away if you don't keep paying. Even if you do sometimes the government can take it through eminent domain. It's just a fact of life. You have to live somewhere.
Did they not attend the monthly board meetings where these issues are discussed and have been discussed for months now?
Their own fault.
And how many times did they complain about paying? People don't like to pay dues. I bet anything the owners as a group kept voting to not pay higher dues. They brought this on themselves.
Board meetings? The board members do what they want regardless. And if you disagree with them you'll have a target on your back until the day you move away.
@fringestream990 I guess you just got your answer, move out in a year or two or be prepared for a long, nasty legal battle.
Pick your poison.
Or run for a board seat yourself.
@@fringestream990 ^^^^^ this ^^^^^ AND ^^^^^^^^ this ^^^^^^^^^.
Not much different than regular/any other government, If you catch them in the act, and pursue accountability, they'll dispose of you.
This is what AMAZES me. I moved here to Florida back in 2013. A state that is ALWAYS hit by hurricanes. Someone explain to me why EVERY home in Florida is not built with some type of concrete, stone, rock? Instead, people build here in Florida with WOOD! Seriously?! I don't get it. The elements, termites, weather damage, etc. Do these things not phase builders at all?
Well... Back in the day... Before... ALL the development started... Things were built with cement blocks... Terrazzo flooring... And jealousie windows... Which created a perfect... Long-lasting... Comfortable home... That was EZY to keep cool and heat...
Wood is cheap/higher profit margins.
@@crismcdonough2804yup, thats the real answer
Why too many problem now in Florida mostly HOA they increase the monthly fee for 300%
Exactly. The "HOA" Crime Syndicate ran rampant in Florida then spread like a cancer to undermine the other states.
Trustees are unqualified volunteers and many management companies are bearly qualified to do the job= poorly managed condo associations
Where is the attorney general in this state? Seems like these hoa boards are being allowed to strong arm people who have paid their maintenance fees for YEARS and suddenly theres no money to do the work( maintenance)that has been ignored. Where’s the money gone? In their pockets? FRAUD
Nailed it. The state legislatures and other elected officials are in bed with the "HOA" crime syndicate.
Why didn't the states doing any real oversight of "HOAs" for decade after decade? That's the real question. When these ridiculous "HOAs" were approved and made "legal", the state legislatures had a duty to make sure they'd be held accountable. At bare minimum there should've always been a state agency doing random audits of "HOAs." But it's almost as if the whole "HOA" thing was deliberately made a crime syndicate by design.
Fees in many condos were established many years ago and often don’t cover routine maintenance, less required upgrades or renovations. I have a place in a small condo with relatively low fees and been to meetings were owners refused a 50 dollars monthly fee increase to adjust for inflation. With the new condo reserves assessment laws they will have to pay 9000 dollars per unit to have the required amount in reserves. Next meeting is going to be interesting
Corruption and greed. Take your fees and mismanaged, now need more.
Poor management in funds no way this should of happened there needs to be an investigation into the situation
**Should've** not should of; I know that they sound similar, but should of doesn't make any sense. You can also say should have if you wish.
Absolutely
How do you know funds were managed poorly? Perhaps they never intended to repair anything and never collected money for repairs. These people are all fools.
@@NJgatewaythank you this has been bothering me for YEARS.
It is not a case of poor management of funds, it is a case of owners resisting paying for repairs for years until the problems become so severe they threaten the habitability of the building.
If the owners don't vote to provide funds for routine repairs, the board can't do the repairs.
i learned my lesson about condos. fortunately i was able to sell without losing my shirt. never again. !!
Time to investigate the HOA, ASAP!! What happened to the money that was supposed to go for repairs and upkeep? Sue!!
The money was never collected. Some people like low comment charges.
Can’t you see them neglect? Apparently the owners which are the residents saw this neglect, and didn’t demand that their common charges be raised to pay for the repairs in the past.
@@phoenix3.057
That is got to be the stupidest most self-centered post I’ve seen in a while. So you think if you vote Republican all the homeless people get homes?
Sorry your party is now the party of not my problem. It’s your problem. Keep it that way.
Condos sound like a nightmare
I freaking HATE HOAs. My uncle passed away last year, it took me 8 months to go through the courts to get appointed as the representative of the estate. In the mean time, the HOA for his complex had replaced everyone's windows for them except for his unit. When I finally gained posession of the property, the HOA refused to allow me to sell it until I paid to have the windows replaced myself, when just two months prior they were replacing people's windows for free. And I quickly found out the reason they put this off is because this particular unit was incorporated into the property well after it was built, was a slightly different architectural style, and these particular windows were a non-standard size and had to be custom ordered. A few years prior to this, I was considering buying a home until I learned an HOA was attached to it. Dues were $500/month, i wouldnt be allowed to have an orange tree in my back yard because apparently having a fruit tree in my back yard would make hordes of homless people magically appear with tents. And then on top of this, all the community centers and parks and pools and clubhouses this HOA offered, they made it mandatory that residents have a rotating schedule for who would staff these places for free. So not only would I have to pay $500/month to not be able to have the one thing I wanted, but I would have to pay $500/month to be FORCED to babysit other people's kids and work for free a couple days a month. NO THANK YOU.
Don’t buy condos!
I live in NY and I’ve been in my unit for almost 9 years. I’ve had two assessments added onto my maintenance in the 9 years I’ve been here. I would get annoyed at the increase and assessments but my building has had the pool redone, the balconies taken off and redone, both upper and lower parking redone, fire escapes repainted, updated washer and dryers, lobby floors redone, and I just received all new windows. After I see stories like these, I feel a whole lot better about my building.
That’s the difference between Florida and New York.
New York generally understands that buildings require on going maintenance.
What a mess. I've never been a condo owner but this makes me wonder, if I was a condo owner, how I would know that my condo board is keeping up with all maintenance and what my recourse would be if they weren't. I'm glad I own a single-family house where I'm the only person responsible for it, no HOA either.
florida, texas, georgia, las vegas hoa pays off politicians
You would go to the HOA meetings. If they aren't holding meetings, ask why, and start insisting they are held on a regular schedule.
As an owner it is on you to attend meetings, review annual reports, follow up on repairs. This place has a club house they say has been closed for 20 years, how do you not ask questions!!??
Every condo should get a structural engineering report done every 5 years at a minimum. It will layout all the maintenance, preventative and critical, that needs to be done and the approximate cost, so that things don’t get out of hand. It is much cheaper to keep up with maintenance than to fix it after years of neglect. Unfortunately most condo owners only want low HOA fees and not realize the investment it takes to keep up the property.
They need to ask to see the inspections. Those MUST be made available on request
That place looks like an old abandoned crap hole
Residents who refused to raise HOA dues for years have blown through their reserves and are now forced to pay for code enforcement repairs via a special assessment.
A tale as old as time.
20 years lmaoo. what a scam
When I was a delivery driver I used to deliver to older apartment and condo communities all the time, some newer some older and I used to wonder how it was legal for some of these places to collect rent and where that rent went.
That is completely and utterly disgraceful and pathetic!
Special assessments are always a concern with HOAs.
I wouldn't even think about buying a condo in FL with the laws favoring the business owners over the unit owners.
Exactly
The Florida SCAM.
, " , would yeah like to see it collapse like that other beach-side tower ??" lol😅
My question in all of this is who insured that heap? Where were the insurance inspectors? From what little was shown on the video, I saw some SERIOUS issues that if I was insuring the dump, would have meant some serious letters to the HOA and all the residents long before this kind of stuff was allowed to degenerate to the point that we were shown on the video clip.
They need to investigate where the money went
We don't even know what these people were paying in monthly HOA dues, maybe it's been woefully inadequate and now it's time to pay up. I've got a friend paying almost $600 a month to cover stuff like this, nearly $7,000 per year for routine maintenence on both his unit and the entire facility in general. Could be this fee is legitimate for the repairs and improvements that have been deferred over the years due to lack of funding from the low HOA dues.
The real question is WHERE exactly did all their many years of monthly fees and payments made to the "HOA" go? The hundreds of thousands of dollars all the residents paid? Straight into WHOSE pockets? And why the state legislatures do literally zero real oversight of "HOA" letting it run wild as a crime syndicate?
Costs nothing to ask, but will cost you plenty to get the truth.
The entire city of Jacksonville needs improvement. That place is a dump. I feel sorry for the hard-working residents.
The roofing problem and dry rotted wood on the East Side of the complex does not need to be repaired it should hold up well. That is the opinion of the majority of us that live on the West Side of the complex we even talked with a neighbor who was a professional roofer for 2 whole years who said the problem on the other side will be OK and the special assessment is not needed.
Sure, it will be ok on YOUR side of the building, not the other side. You still have to pay though. If the city condemns as a result of the damage, they will condemn the entire building, not just parts of it.
@@Tugela60 I think OP was being sarcastic buddy, and you fell for it 😂
So, spend money on inspections and regulations instead of repairs.
People get into buying a condo and look 👀 at this mess
Very informative. Thank you.
When some of that fee goes into reserves. About one third of the fee goes to reserves and even that can be wiped out in a matter of months if there is a fire or water damage. So thats why it's not good to live in a condo. And most times there is not enough parking.
As a property owner, let's just say if people don't start actually fighting back, you will own nothing and be happy.
This is the problem with Condos. That place has been neglected for years, and is in need or serious renovations. My parents recently sold their condo, because nobody wanted to pay the fees necessary to keep the building in good shape. The previous board had completely mismanaged things, and left the condo $100k short when they needed to replace the roof a year ago. Then they had the hurricane right after that. So glad that they are back in a house, where they can ensure that it is maintained, and safe for them.
so what happened to the monthly payments they've been making for years ?....sounds like the board of directors just want a raise
They likely weren't making high enough payments to actually pay for repairs.
It is illegal for the board of a condo to get paid for their time on the board and opens them up to being personally sued if they even allow a board member to assume some of the condo work like landscaping, even if they are the lowest bidder. It all must be volunteer time.
What a nightmare.
Bricks and stones will cost some bones but they will never fail you
Visible defects and rot? Infrastructure issues?
That’s one condo board that’s demanding to get sued.
We had a similar issue. Contractors started with replacing the old siding. Revealing years of old rot. By the time they finished they were replacing everything including a new roof. We all made a insurance claim and there was a remaining sum. Our HOA negotiated on our behalf a 11k loan for each unit over 10 years. Ultimately our dues went up about 90 per month. When you sell the new owner assumes the loan. Good news is the buildings do look much better.
I never understood the purpose of condos.
They are glorified apartments that you own, but still share amenities like in an apartment building. You could still share elevators, stairways, driveways and so on. And if there's a leak in someone's condo, that could damage a neighboring one.
And they're not cheap.
I'd rather live in a stand alone crummy house and not share anything vs any condo.
The lawyer never once blinked his eyes.
So they didn't pay for maintenance for decades and they're shocked that they have to pay now. My guess is that they complained about their condo fees for decades and didn't want to pay for needed repairs.
That's usually what it is. People in Condo and HOA stuff never want to pay fees. So fees are kept too low and maintenance that should be done on the regular isn't. Eventually you reach no choice but to do the maintenance.
I sold my condo in Virginia Beach the association was just as corrupt and lazy
This sounds like a scam because how come everyone is surprised that buildings need routine maintenance? It's like those people who run their car to the ground and then complain.
When you live in a condo when you notice that your clubhouse has been closed for 2 decades, you need to be proactive and get on the board and start asking questions. Find out where the monthly dues are going and what’s being paid and what’s being fixed.
Ok. If you see the word Condominiums you better run as fast as you can because the first three letters in that word which is Con that means you will be coned out of a lot of money. Trust me on this one. Things will definitely get worse as the years go by. At some point condo fee will be unaffordable.
I'm a board member in a Florida HOA. We are single family homes, so my situation is a bit different. BUT, the thing is, when you buy a condo, YOU HAVE TO GET INVOLVED. These long term residents should have been demanding the maintenance was done on the buildings. They should have known the HOA reserve amounts. If they didn't like how things were run, they could have run for the HOA board and been an unpaid director, like me.
this is a single instance of total mismanagement by that HOA director. But also the owners are to blame for not getting involved with overseeing the expenses of the HOA monthly dues. Lesson here is if you own a condo get involved don't think and wait till it's to late. It's not like we didn't see this coming. My condo association got ahead of this by starting our concrete renovations 3yrs ago and we are on our last building. Get involved!!
what were the monthly fees before ?
Just think how much nicer the place will be when the work is done. It will be like these people have a new home. This must be exciting for them.
What property owners are doing to people is despicable. Shameless
Sue the HOA management company for negligence.
Not just an HOA issue but a condo issue. Owners must pay for the common good like roofs etc. free standing homes do not share common expense shares
People these days don’t have $13,000 in the bank.
Had there been a notification to the residents about the Board meeting and the agenda? Was this brought to the HOA members? If so,all homeowners should have been able to attend the meeting. This shows that it's always a good idea to attend them. At the very least you would have gotten information as to what needed to be done and how much it will cost. As far as I know know, all these meetings should be open to the members. You can listen at the board meeting, and formulate questions for the general meeting, but have to wait until the general meeting for discussion.. Parliamentary Procedures. Do check the HOAs rules.
There’s little question that the owners should get an itemized list of repairs, and the attendant costs. But this is just part of the fallout from the Surfside collapse. We don’t live in FL, but are well aware of what happens when an HOA “kicks the can” for years when it comes to repairs and maintenance of the property. Fortunately, our situation is much more manageable than the property shown in the video. From a legal perspective, I suspect that the effects of the Surfside collapse will continue to be reflected in changes in CID* statutes nationwide. (*CID= Common Interest Developments, which include condos, co-ops, zero lots, etc., pretty much anything run by an HOA.)
"What structural repairs, I don't know" then goes on to show the reporter what needs to be repaired. Looks like the problem being either the HOA mismanaged funds (big surprise) or the HOA wasn't charging enough to be competitive when they weren't being forced to actually maintain the properties as they are now. In either case the HOA should have some accountability. In the long run however, it'll require higher HOA fees to cover the ever increasing costs of construction/maintenance on these buildings with the new law in place. What always surprises me is that the residences don't dissolve the HOA, or vote to change it. In Florida that would be in the governing documents, or if its not in them, then its a majority vote of the residences.
The condo should publish the engineering report. So after defering maintenance for many years they now need repairs. Also if the capitalization fund was not paid into , all the money is due now.
From my experience being on a HOA, many of the homeowners and board members of these communities are hellbent on keeping CURRENT monthly dues low at the expense of special assessments and/or greatly increased monthly dues on FUTURE owners by deferring lots of the normal annual maintenance items that are associated with these types of buildings. The end game is that they get to enjoy a lower cost of living, while future owners are stuck with paying large bills when many of these maintenance items can no longer be ignored! Really nothing more than a form of “generational theft”……….🤔
This is exactly it. It's a game of kick the can down the road, a kind of scam owners play on themselves.
While I was a realtor, I visited a condo complex where each tenant got a $34,000 special assessment. There was significant untreated water intrusion. These condos were worth maybe $150-165K at the time and were ticky-tacky built in CA about 1970. Imagine you own your condo and you get a letter , "Good morning, your home is worth $34,000 less than it was worth yesterday. Have a nice day!"
Owners across the country are raising rents, foreclosures and record evictions in favor of making room for illegal migrants which city councils will pay approximately 50 to 60% more to house than what current residents pay and contribute towards the property, and land owners are taking full advantage of this increased financial opportunity, and they’re being very clever citing these processes as some other reasons otherwise.🤷🏼🤔🙄
I don’t live in an HOA; but my rural community decided we HAD to have a sewer system; and slapped us all with a $20k lien to pay for hook ups even if we had functioning drainfields. We were getting a bill even if not tied in; and if our septic failed, our homes would be condemned instead of allowing to repair them.
Where do you live where there's no sewer system?
The owners haven't had maintenance done in ten years? Who pays association fees.. and doesn't look to see if the money is being spent on maintenance?
Those rotted out walls... the rotted roof... a rec building no one has been able to use for a decade?
The condo board has NOT been doing it's job... and the owners should be SUEING! What type of maintenance was being performed for the past ten years?
And WHY is there SO MUCH work that needs to be done NOW? Why wasn't this work work done over the past few years?
Criminal negligence? Fraud? Someone NEEDS a good lawyer.
HOA's should be banned.
Every Condo owner has faced a assessment at some point or another, our last assessment was at 40 K. This work was neccasary. Our former condo board was not doing the job so it was on us to remove them and replace them. All work should be transparent. So I do not feel sorry, these people need to take control. But they own the building so they need to pay.
Another example of corporate greed in America...
Thats CRAZY!
What is not fair is that some Associations hold off on repairs until they become larger problems. Newer owners are then having to pay for problems that have been neglected for years prior to their ownership.
Good luck selling with a special assessment on file.
Who’s gonna buy into that mess??
If you have to pay an HOA, you don't own your own home. It's time people wised up and realized this.
The UNIT OWNERS should be monitoring the board . 718 statures REQUIRE the board turn over the check account and financial records or the prez must pay 100 a day fine PERSONALLY
Its called an assessment, its not unusual to keep the facilities up to code as former board members kicked the can down the road in order to keep their condo fees lows. Its the classic "pay now or pay later". Its happening throughout the State due to the new law passed after the condo collapse in Miami.
The building has been a wreck for years. What did the residents/owners expect?