The new Florida law was enacted after the 2021 collapse of the Champlain Towers in Surfside, which mandates increased building inspections and reserve funding for condo buildings.
Sounds like decades of neglected maintenance catching up to the owners. Which sucks for those who just bought in and got left holding the bag.
Projects budgeted for Konetz’s building include everything from consultants, roofing, concrete restoration, elevator modernization, termite treatment and $700,000 alone for landscaping.
Sorry you have to move out, we need a reserve of cash to pay for landscaping.
Sounds like decades of neglected maintenance catching up to the owners. Which sucks for those who just bought in and got left holding the bag.
It’s not really a bag they’re just making condo owners have a reserve of cash in case shit happens.
Projects budgeted for Konetz’s building include everything from consultants, roofing, concrete restoration, elevator modernization, termite treatment and $700,000 alone for landscaping.
Sorry you have to move out, we need a reserve of cash to pay for landscaping.
Plus their HOA dues doubled to 3k/month.
I really feel for these folks.
If you’re forced to sell your home and you’re 80, that’s a hell of a bag.