BACK TO HOAs THIS WEEK

By Eric Glazer, Esq.

Published August 22, 2022

 

It seems that for week after week we have been blogging about condominiums for the obvious reason that condo laws have undergone an absolutely dramatic change this year.  Not only is the change dramatic, but it will no doubt lead to foreclosures of countless units when unit owners cannot pay the special assessments necessary for Phase One Inspections, Phase Two Inspections, numerous costly repairs and the full funding of reserve accounts.

 

So, what is there to really say about HOAs this week?  How about this?  Despite what you may feel about your specific HOA, all owners of homes located in HOAs are pretty lucky.  The new inspection laws only apply to buildings 3 stories and higher, so your single family home is off the radar.

 

I donít doubt for a second that over the next two years, as condo owners begin to realize what theyíre in for financially, they will start searching for homes located in HOAs, especially owners who are retired and on fixed incomes.  Townhome condominiums under 3 stories will also be sought after.  If Iím right, there wonít be nearly enough single family homes and townhomes to accommodate the rush of fleeing condo owners.  These homes will no doubt be going for a premium.

 

I know that those of you who live in an HOA and are responsible for your own roof think that HOA owners took it on the chin as well with the tremendous rise in insurance rates.  Understand that condo owners have gone through the same massive insurance price increases, in addition to every other expense that they have on their way.

 

For those of you who live in condominiums that are three stories or more, please tell us you plan.  Do you intend to ride out the wave and see what happens?  Or, will you be pro-active and move out of your condo before all of the bills come due?  Are any of you lucky enough to live in a condominium that has already undergone a 30 or 40 year inspection, made all the necessary repairs and are already fully funding your reserve accounts?  If so, I can assure you that you are in the minority.

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About HOA & Condo Blog

Eric Glazer

Eric Glazer graduated from the University of Miami School of Law in 1992 after receiving a B.A. from NYU. He has practiced community association law for three decades and is the owner of Glazer and Sachs, P.A. a five attorney law firm with offices in Fort Lauderdale and Orlando.

Eric is Board Certified by The Florida Bar in Condominium and Planned Development Law.

 

Since 2009, Eric has been the host of Condo Craze and HOAs, a weekly one hour radio show that airs at 11:00 a.m. each Sunday on 850 WFTL.

   

See: www.condocrazeandhoas.com.

   

Eric is the first attorney in the State of Florida that designed a course that certifies condominium and HOA residents as eligible to serve on a Board of Directors and has now certified more than 20,000 Floridians all across the state. He is certified as a Circuit Court Mediator by The Florida Supreme Court and has mediated dozens of disputes between associations and unit owners. Eric also devotes significant time to advancing legislation in the best interest of Florida community association members.



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