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Homeowners in the Villas of Carillon townhome community of Feather Sound, Florida are trying to wrap their heads around a request from their homeowners association board for a $60,000 special ...
A $21 million special assessment fee has outraged residents of two 16-year-old buildings at 1060 Brickell in Miami, Florida, with some unit owners facing individual bills exceeding $40,000. Don't miss
Often, the HOA passes this ever-rising cost on to the homeowners in the form of higher monthly fees or larger one-time fees called special assessments. This jump in homeownership costs can have a ...
Yet another torrid tale has emerged of Florida homeowners being hit with eye-watering special assessment fees as building managers race to be in compliance with a new state law.. This time, it’s ...
Special assessments often require a homeowner-vote if the amount exceeds a prescribed limit established in the association's by-laws. In California, for example, a special assessment can be imposed by a board, without a membership vote, only when the total assessment is five percent or less of the association's annual budget. Therefore, in the ...
Policymakers plan to keep a close eye on reserve studies and assessments in 2025. Rep. Lopez expects South Florida to be hit the hardest with increases in condo HOA fees, special assessments and ...
Two years later, the pair got hit with a six-figure special assessment — a charge that condo owners and homeowners in HOA communities must pay to either finance a renovation on the property or ...
In Miami, residents at the Palm Bay Yacht Club, where two-bedroom units have sold this year for between $400,000 and $500,000, are having to pay $140,000 each toward a special assessment for a ...