Thursday, January 20, 2022

Florida Realtors: Surfside Collapse Challenges Many Older Condos

 People buy condo units and don't want to pay to fund the reserve fund. They are gambling that they will be gone by the time major repairs are unavoidable and the huge special assessment lands. This problem is inherent in the way condos and HOAs are set up. The only way to remedy the situation is for government to get involved, but the interest groups that represent all the professionals who serve private communities are opposed to that.

https://www.floridarealtors.org/news-media/news-articles/2022/01/surfside-collapse-challenges-many-older-condos