Thread Number: 91954
/ Tag: Other Home Products or Autos
High Rise in South Florida - Assessments |
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Post# 1164961 , Reply# 1   11/26/2022 at 17:20 (510 days old) by ea56 (Cotati, Calif.)   |   | |
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Mike,
Trust me, you and Joe were very wise to be overly cautious! With inflation these days, everything ends up costing way more than many reserve studies allow for when the work/replacement of individual components actually needs to be done. If I’m reading your post correctly is the Special Assessment for the balconies $120K for each owner? I can’t possibly imagine that all those balconies can be replaced for only $120K. You and Joe are smart to be attending the HOA meetings. Many condo owners are just disengaged and don’t go to HOA meetings. Our HOA is small, only 20 units and three board members. I’ve been the president now since about 2008, I lose count because I’ve been on the board continuously since 1995. I’ve been told that I’m probably the longest serving HOA board member in the state of California. Since the pandemic we’ve been doing our quarterly HOA meetings on Zoom. We seldom have any owners attend the meetings, which is a good sign that we must be doing something right, because owners usually only attend the meetings when they are unhappy about something. I know all the owners and residents and in all these years I’ve only had a problem with a small handful for owners, and the issues are always resolved to the satisfaction of both parties, with the exception of one owner about 12 years ago that was several months behind in her dues and her lien holder foreclosed on her. I personally believe that every condo owner should at the very least attend the HOA meetings. And if at all possible take a turn serving on the board. I keep saying that every year is going to be my last serving on the board, but I continue because no one else shows any interest in volunteering. I mainly keep doing it because I want to make sure that the reserve fund doesn’t get squandered. Its a big responsibility and I take it seriously. I’m old fashioned and believe that if you watch the pennies the dollars take care of themselves. I’m glad for you and Joe that your building is well engineered. And from the photos it looks like a nice condo building. I wish you all the best! Eddie This post was last edited 11/26/2022 at 17:38 |
Post# 1164962 , Reply# 2   11/26/2022 at 17:38 (510 days old) by petek (Ontari ari ari O )   |   | |
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Post# 1165002 , Reply# 4   11/27/2022 at 10:25 (509 days old) by Michaelman2 (Lauderdale by the Sea, FL)   |   | |
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Red rover, red rover, send Pete right over. Lol. |
Post# 1168943 , Reply# 6   1/9/2023 at 18:19 (466 days old) by bradfordwhite (central U.S.)   |   | |
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$120K per unit, for a repair? OMG.
The crazy thing about FLA....., even if you have a building that is in perfectly good condition... The sea level is rising and it's doing it faster than was predicted. And taking away the beaches and pushing into buildings on the beach. And that water is pushing into the aquafers and contaminating the drinking water. And it's eating at and dissolving the karst that makes up the very foundation of the majority of FLA. This causes sinkholes that can do tremendous damage. Then there is the hurricanes that are becoming more intense. And the suspicious amounts of people rushing to FLA. at this point, acting like it's desirable. There's going to be a crash and it's not going to be pretty. You can have a perfect building but if it's foundation is wiped out beneath it, there's nothing one can do about that. |