Florida’s Surfside law helps developers as condo owners face large maintenance fees

WSVN

Lean Left

Factuality

Ownership

Florida lawmakers set to open special session to discuss laws regarding homeowner insurance costs, other issues - WSVN 7News | Miami News, Weather, Sports

Lawmakers are expected to meet in Tallahassee on Monday to examine the law passed after the tragic Surfside condo collapse, requiring condo associations to have sufficient reserves to cover major repairs. Condo owners blame this for the price hikes in maintenance fees and insurance costs. Another issue they will focus on is homeowner’s insurance, including the expanding oversight of insurance companies, among other issues.

Tampa Bay Times

Center

Factuality

Ownership

Florida’s Surfside law helps developers as condo owners face large maintenance fees

The changes followed reporting that the Champlain Towers South’s association had for three years delayed repairs recommended by an engineering firm.

Sun-Sentinel

Center

Factuality

Ownership

Tales from the Florida condo crisis: Homeowners describe hardships after cost hikes

Some had to take out loans to pay special assessments. Some, on fixed incomes, saw their buying power reduced. Some say they can't afford to stay in the unit they bought for retirement. We asked readers to describe how cost hikes for condo maintenance, insurance and reserves have affected their lives.

New York Post

Lean Right

Factuality

Ownership

Inside Florida’s brewing condo crisis

New assessments are making Florida condos harder to sell.

ledauphine.com

Factuality

Ownership

A standard trustee contract was created by the Alur law, starting on 1 July 2015. In particular, it defines how to pay condominium trustees, whose role is to administer and manage buildings.

financialnewsnetwork.com

Factuality

Ownership

Financial News Network - Is a Florida condo crisis brewing? Developers claim rising costs are necessary to prevent disaster

According to prominent Florida real estate developers, the "Condo 3.0" bill causes a favorable shift in the market and prevents the likelihood of a future Surfside tragedy.Read More …