MIAMI – South Florida condo owners face escalating costs due to rising assessments and fees, pushing some to move away; legislators aim to address these challenges, focusing on safety and insurance reforms.
One Brickell resident told CBS News Miami, away from our cameras, that he was upset that his neighbor of two decades could no longer afford to stay, overwhelmed by skyrocketing assessments and maintenance fees .
He’s not alone in hoping something changes fast.
“People are moving and moving away from this area of town,” shared Shawn Cozzolino.
Cozzolino tells us ever since he purchased his condo in Brickell four years ago, his association fees have gone up.
“Add it all together, it’s like an extra $1,000 more a month,” said Cozzolino. “For a lot of people, they can’t do that.”
Condo costs are rising for thousands in South Florida.
“My brother and sister-in-law are on Brickell Key and they have had three special assessments, one per year over the last three years,” said a Brickell resident who goes by Steve.