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SOLVING THE CONDO CRISIS?
By
Jan Bergemann
Published September 13, 2024
I don’t
really think there is a good solution to the pending condo
crisis. Lots of money is required, money many condo owners just
don’t have. Some folks offer a solution by giving these owners
low-interest loans. Miami/Dade is offering interest free loans
to pay for these special assessments. The statement on their
WEBSITE: “The
Condominium Special Assessment Program is designed to provide
funding assistance to help condominium owners in Miami-Dade
County pay for special assessment requirements that arise from
rehabilitation and repairs due to applicable building integrity
recertification requirements.”
So far, so good! But isn’t such a solution just kicking the can
further down the road? Remember: These loans are only given to
low income families according to the statements on the website
and the application form.
Folks seem to forget that it’s not only the special assessment
that is causing serious financial problems, it’s as well the
seriously increased monthly maintenance fees these owners have
to deal with in the future. Who pays for these monthly fees,
especially if we are talking low income families?
Are we not creating a hot bed for future foreclosures once these
owners can no longer pay the much more expensive maintenance
fees?
Developers sold these owners units under false pretenses: “Easy
living and low cost housing!” They forgot to tell owners that
buildings after a while require serious maintenance and repairs.
Developers and the Florida Legislature failed to tell these
owners that fully funded reserve accounts are necessary to pay
for these costly repairs.
Now owners, who for many years paid artificially low maintenance
fees, are paying the price – and quite a few of them will be
losing their homes.
But I doubt we all want to see another disaster like the
collapse of the Champlain Towers South that cost the lives of 98
people!
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Jan Bergemann is president of Cyber Citizens For Justice,
Florida
's largest state-wide property owners' advocacy group.
CCFJ works on legislation to help owners living in
community associations. |
He moved to
Florida
in 1995 - hoping to retire. He moved into a HOA, where the
developer cheated the homeowners and used the association dues
for his own purposes. End of retirement!
CCFJ was born in the year 2000, when some owners met in
Tallahassee
- finding out that power is only in numbers. Bergemann was a
member of Governor Jeb Bush's HOA Task force in 2003/2004.
The organization has two websites to inform interested
Florida
homeowners and condo owners:
News Website:
http://www.ccfj.net/.
Educational Website: http://www.ccfjfoundation.net/.
We think that only owners can really represent owners, since all
service providers surely have a different interest! We are
trying to create owner-friendly laws, but the best laws are
useless without enforcement. And enforcement is totally lacking
in
Florida
!
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