Many Floridians who are also condo owners are well aware that after the Champlain Towers condos collapsed in Surfside, Florida in 2021, inspection, repair, and recertification requirements became more stringent. As a result, some of Florida’s condo associations must now charge special assessments to raise the funds necessary to meet these new requirements.
Unfortunately, some necessary inspections and subsequent repairs are incredibly expensive and must be shared among condo owners. I’ve written about condo owners at The Cricket Club and Palm Bay Yacht Club being asked to pay over $100,000 each for upcoming expenses and repairs.
And while I’ve found another assessment that can top that amount – at over $200,000, I also found some condo owners who have gotten a reprieve from an assessment of $60,000.
Mediterranean Village In Aventura – An Assessment For $224,000: Howard Konetz and Sheila Konetz have lived in their two-bedroom condo in Mediterranean Village for 10 years.
Their monthly maintenance bill went from $1,500 to $3,000, but even worse, they got hit with a special assessment for approximately $224,000 due to several upcoming restoration projects in their community.