Let’s unpack a growing issue that’s hitting close to home for many Florida condo owners. Following the tragic collapse of the Champlain Towers in Surfside back in 2021, the state tightened up its inspection, repair, and recertification rules for condos. This shift has led to a financial headache for some residents as condo associations scramble to cover the hefty costs of compliance through special assessments.
Over at Mediterranean Village in Aventura, condo owners Howard and Sheila Konetz are facing a jaw-dropping situation. After living comfortably in their two-bedroom condo for a decade, they’re now grappling with a special assessment of approximately $224,000 on top of their monthly maintenance bill, which has already doubled from $1,500 to $3,000. The reason? An array of upcoming restoration projects deemed necessary for their building’s safety.
The financial strain has pushed the Konetzes to a breaking point, forcing them to put their condo on the market as they can’t see any other way out. Howard Konetz expressed his despair to Local 10, saying, “I don’t know how we are going to live or where we are going to live. We can’t afford it and we are going to go broke – especially with the special assessment that has been levied on us.”