Anyone who ever thought signing over a blank check when they bought a home was a good idea, was short-sighted. My realtor kept trying to convince me that a condo would give me more for my buying dollar. But I never thought agreeing to pay for my neighbor's roof was any kind of a smart deal.
The problem is the overwhelming majority of Condo owners do not take part or show up for their quarterly meetings. Which also means 3/4 of those Condo owners do not understand or read there financial reports. And I guarantee you that 80% don’t even read the condo docs before buying the condo, or looking at how solvent the condo they’re buying into is. Yes some HOA’s are made up of people who have no idea whatsoever what their responsibilities are in that position. For those who are reading this and thinking about buying, a condo do your due diligence, I’ll say it again do your due diligence and you’ll find when you do you won’t have these problems and if you do, you will not be caught by surprise. Ask about past Assessments, Find out the last time the HOA Fees Went up and by how much “in as, if the developer in 20 years old and and it seems really low that shows, they haven’t keep up with the cost of inflation and maintenance. I always when looking, at buying do a personal walkthrough looking at the Quality of the roofs, decks, parking areas. And if there are self managed,I would not buy into that development. Most do not have the knowledge and make expenses mistakes. They think that $80k they save was worth it, in the end it cost them much, much,more just what they loose dealing with contractors.. Don’t walk into the biggest purchase in your life Time without doing your do diligence. You wouldn’t by a car no a days, with out looking at Car Fax would you? And that’s only $28k. Not $350k, would you..
Greed is not the problem. The problem is cost of materials, labor and maintenance in the buildings and grounds that comprise the Condo or HOA. This is exactly why I told my mom to buy a small ranch and not a condo. It's cheaper in the long run to hire out your landscaping and home maintenance. I'm a property manager for condos and HOA's and I would never encourage anyone I know to purchase in either. It feels horrible as an association manager to have to recommend and deliver a huge increase to the residents. I am leaving the industry because of this, I truly feel for the residents that I service.
This is so sad. I never wanted to have a maintenance payment in addition to paying for my house so I bought a single-family house in a neighborhood with no HOA. I and my neighbors can do things to our homes that the rest of us may not like, but that's ok with me. At least I can live in my house in peace.
Same here. My cottage is painted a pale lavender, grows medicinal and edible plants in the front yard, grows a privacy hedge higher than fences restrictions. Neighbors are always stopping to say how they love the place, and asking advice for their yards.
Don't ever buy a HOA condo or house. The board can just force you to pay for whatever they want and they can take your home unless you can convince a majority of your association to actually come out and vote against it.
Agreed. We currently have a corrupt board of directors. There are two lawsuits pending against them. One, for running a corrupt election to increase maintenance fees and two, selective enforcement of deed restrictions. Next, we are looking at recalling them.
Old houses without HOA need lots of maintenance as well, the difference is that a older couple can put it off and sell the house at a lower price to someone who can renovate it. A condo building you can not do that it needs constant maintenance unless they agree to sell the building and tear it down.
Unfortunately down here, it's rare to find a community without an HOA. I can't stand them because of the draconian garbage with some of these boards, not to mention the theft. Thankfully where I am there is no HOA. it's a 20 year old community where the homeowners are responsible and take care of their properties. These HOA along with the condo commandos are disgusting and tyrannical.
Wow what a shame. I live in Tampa and this is not good for the elderly not even myself since I am one too. I tried to look at properties but not anymore.
The same thing happened at my condo. I’m now paying $1100 just for HOA fees. Within 2 years they raise it from $280 to $1100 they don’t use the money in the reserve instead they put pressure on the residents who are on a fixed income. Very sad
Government sends ton of money to all sorts of corrupt s holes but they can't help their own citizens. You should not be forced into homelessness at this age. This is sick.
1:47 "now people are competing to sell their properties" to get out of their HOA dues "we are seeing sharp price reductions" Surprise surprise, it looks like HOAs don't keep property values high afterall, it looks like they just keep your costs high while devastating you home value. Who could have seen that coming.
People should not be losing their homes due to these hoas. Why are there not laws protecting the owners. Laws seem lacking for the hoa management and propery owners.
For single family, detached homes or even traditional rowhomes, HOAs are often a hindrance. However, for a structure, such as the building shown in the story, shared by multiple families, HOA is about the only reasonable way to do it. HOAs traditionally have allowed people to buy homes they couldn't afford otherwise. It's not just the cost of maintaining each unit, but the structure and common spaces, including roads and utility lines. The alternative would be for cities to own the structures, but doubt most would like that. It's a tradeoff.
It appears from about 37 seconds in that she lives in a two story condo. Nothing in Florida law has changed there. Three stories and above are being held accountable for ensuring the buildings don't collapse.
Presumably severe lack of reserves and now the HOA is being forced to address that. This is a common problem. For the first 10-20 years, HOAs can be great, but after that, maintenance costs rapidly increase. Well run HOAs plan and budget decades ahead, such as for roof replacement, road and sewer repair, etc. Unfortunately, many HOAs are more focused on keeping dues down. Fine at first, but not sustainable.
At lease she got to 'live in paradise' for 28 years. Sorry this is happening all over the country to many HOAs. I'm in Sedona, Az my HOA is $240. a month and I've been here nearly 50 years.
Worst decision i made was buying this home i luve in now. I sold my house and needed something so bought in where there are asdocistion fees. 79/mo inc yr 1 $60/mo yr two. Im out of here. They do nothing here. We dont even have meetings. I was told increases are $20-30/mo yearly. We have no rights. No law prohibits exorbenant rent increases.
This is not greed. This is irresponsible management, who for years has kept HOA fees too low to sustain their own buildings. The chickens have come home to roost. It is very sad.
Insurance costs are way up, construction costs including new and renovations are way up and house prices and interest rates are way up. With the Southside collapse condo boards can not just vote to defer maintenance like they did before. The good news is that anyone who has owned for more that a couple of years will be able to sell for a big gain. People will have to make some tough decisions. Insurance abuse and out of control lawyers has not helped the situation.
They’re not looking for another place to …. move 👀 !!! they’re looking for another place to …. LIVE . 😳 …. reporters are absolutely ignorant folks nowadays … spinning a story , and forming sentences with the average 4th graders educational level . 👎 Yup …. you could tell , she’s REALLY shook up and upset about the poor old woman’s dilemma. 🫣 Judgment is coming . 🇺🇸 Semper Fi
Rapidly increasing population combined with inflation. Florida used to be affordable even somewhat close to beaches. Not anymore. This is the new reality. Many will be priced out. Shame, but many condo associations lack adequate reserves for major maintenance items and emergencies. Now the bill has come due.
These are the issues the governor of Florida never pays attention to. He thinks he's doing so amazing but he never deals with these important issues. He isn't a good governor if he is ignoring these issues. President Trump fixed things I never thought would make it to his desk. I used to be shocked everyday when I woke up and he did something surprisingly amazing. Even once making appliances great again. Water pressure great again, Farming great again, border walls, child trafficking, made pharmaceutical prices were going down, he was making doctors give a price list for procedures. So they wouldn't be able to over charge patients for care. Made out country self reliant. Made our companies come back to America and that increased jobs, raised tariffs on China, collected money from other countries that owed us for decades. Made Mexico help us with keeping illegals in Mexico if seeking asylum. He put America first and that is why the government hates him so much because so many have sold our country out for money and they know if he gets back in office they are screwed and we need them to be held accountable. Don't be afraid of this. They owe us all these politicians have all our tax payers money in their pockets. Don't you ever question how every politician is a millionaire while we struggle to buy groceries? I do and I want this to stop. Why don't everybody else want our country free of tyrants and thieves?
Yeah but the problem is all of the old people have been skating for very very cheap living in Florida for the last 40 years and now the bill has come due and none of them want to pay for it. Where is your family, Rufina?
Excuse me?How to say you're privileged and don't give a shit about anyone else without saying you're privileged and don't give a shit about anyone else. It's not just old people, sweetcheeks.
Congress gave them this new power. HOA is now equal to mtg company and they're separate entities. The HOA has the right to foreclose on any late fees u owe. They don't have anything to do with what a person owes. They don't care. And the lenders won't pay anything that has to with HOA. The HOA has first right to foreclose, and when they do it'll be quick. Once u fall behind on ur fees, they send warnings, and keep adding crazy fees, lawyer fees, late fees for that and late fees on top of ur late homeowner monthly fees, and all sorts of extra shite. Ex. If they mails u something and charge u for that, they'll add more late fees just for not paying that fee too. It's a snowball effect. But once u're late they file a quick lien at court house, and if ur still late I think 3 months they file for immediate foreclosure. They take ur home and they sell it for the amount of ur late fees. And u're homeless and u are still responsible to pay ur own mortgage payment. Ex. They can take a 310k house, sell it for ur fees of say 5k and that's it it's game over. The lenders used to be the only first mtg with priority but congress changed the rules a while back. Made them equal to banks and MTG co, best thing to do is file chapter 13 immediately. Like right away. That's the only way to save ur home the only way. The lawyer will file it electronically with the court and it halts everything. And don't believe anything the HOA says, cuz what they'll do is lie and stall to run the clock down so they can foreclose if they say they'll call u back or they're gonna work with u. Do not believe them do not wait. Chap 13. Cuz once they take it it's gone u cannot get it back
![[TH] 2024 PMWC x EWC Group Stage Day 2 | PUBG MOBILE WORLD CUP x ESPORTS WORLD CUP](http://i.ytimg.com/vi/vwIQyCmNIBU/mqdefault.jpg)
When the HOA is equal to your mortgage payments.
And they have the audacity to change it from 250 to 350 but like… they took out the pool for years . And no there’s no structural repair smh 🤦🏾♀️
mine went from 300 to 900 with a surprise 25k assessment
I live in St. Pete, and finally got my 20% to buy a condo, but can’t afford the flood insurance and HOA.
Anyone who ever thought signing over a blank check when they bought a home was a good idea, was short-sighted. My realtor kept trying to convince me that a condo would give me more for my buying dollar. But I never thought agreeing to pay for my neighbor's roof was any kind of a smart deal.
they should be called "Con-dough".
Amen!
We should all be ashamed the way we do our elderly.
The problem is the overwhelming majority of Condo owners do not take part or show up for their quarterly meetings. Which also means 3/4 of those Condo owners do not understand or read there financial reports. And I guarantee you that 80% don’t even read the condo docs before buying the condo, or looking at how solvent the condo they’re buying into is. Yes some HOA’s are made up of people who have no idea whatsoever what their responsibilities are in that position. For those who are reading this and thinking about buying, a condo do your due diligence, I’ll say it again do your due diligence and you’ll find when you do you won’t have these problems and if you do, you will not be caught by surprise. Ask about past Assessments, Find out the last time the HOA Fees Went up and by how much “in as, if the developer in 20 years old and and it seems really low that shows, they haven’t keep up with the cost of inflation and maintenance. I always when looking, at buying do a personal walkthrough looking at the Quality of the roofs, decks, parking areas. And if there are self managed,I would not buy into that development. Most do not have the knowledge and make expenses mistakes. They think that $80k they save was worth it, in the end it cost them much, much,more just what they loose dealing with contractors.. Don’t walk into the biggest purchase in your life Time without doing your do diligence. You wouldn’t by a car no a days, with out looking at Car Fax would you? And that’s only $28k. Not $350k, would you..
All places of living require upkeep.
ALL THANKS TO HIGH HEELED GOV. DESANTIS AND CROOKED INSURANCE COMPANIES.
How awful to treat senior citizens this way at their last stage of life. GREED is the problem.
Greed is not paying extra dues for reserves to have extra money now and not being forward thinking.
Many condo owners do not want to pay for reserves, that simple.
@@info781 yea so they can't complain when dues go up then lol
Greed is not the problem. The problem is cost of materials, labor and maintenance in the buildings and grounds that comprise the Condo or HOA. This is exactly why I told my mom to buy a small ranch and not a condo. It's cheaper in the long run to hire out your landscaping and home maintenance. I'm a property manager for condos and HOA's and I would never encourage anyone I know to purchase in either. It feels horrible as an association manager to have to recommend and deliver a huge increase to the residents. I am leaving the industry because of this, I truly feel for the residents that I service.
@@Nicole-qc5dh You are right about the small ranch, good advice.
RIDICULOUS FLORIDA!!! LEAVE OUR ELDERLY ALONE!!!
Condo board, put it off
This is so sad. I never wanted to have a maintenance payment in addition to paying for my house so I bought a single-family house in a neighborhood with no HOA. I and my neighbors can do things to our homes that the rest of us may not like, but that's ok with me. At least I can live in my house in peace.
Same here. My cottage is painted a pale lavender, grows medicinal and edible plants in the front yard, grows a privacy hedge higher than fences restrictions. Neighbors are always stopping to say how they love the place, and asking advice for their yards.
My HOA fees yearly are now 4500$ for the year in Oxford , Florida . Praise God I don’t have a mortgage or car payment. (Paid off)
Jesus that is quite expensive. But without other liabilities, it’s not the end of the world 🙏🏼
@nicolehall2177 Is this in Lakeside Landings? My husband and I were looking there
@@danacaro-herman3530 yes it is Lakeside Landings 😁
Greed is behind that
How is it greedy?
@@joshuajay2886 Ever see HOA 'employees' in action? Many are residents who get free rent and pay. Think about it .
@@PresidentNotSoSure they aren't employees, in order to be an employee you have to get paid. They are volunteers. What do you mean they get free rent?
I feel sorry for these senior citizens , they had to choose between eat and bills .
Don't ever buy a HOA condo or house. The board can just force you to pay for whatever they want and they can take your home unless you can convince a majority of your association to actually come out and vote against it.
Agreed. We currently have a corrupt board of directors. There are two lawsuits pending against them. One, for running a corrupt election to increase maintenance fees and two, selective enforcement of deed restrictions. Next, we are looking at recalling them.
Old houses without HOA need lots of maintenance as well, the difference is that a older couple can put it off and sell the house at a lower price to someone who can renovate it. A condo building you can not do that it needs constant maintenance unless they agree to sell the building and tear it down.
Unfortunately down here, it's rare to find a community without an HOA. I can't stand them because of the draconian garbage with some of these boards, not to mention the theft. Thankfully where I am there is no HOA. it's a 20 year old community where the homeowners are responsible and take care of their properties. These HOA along with the condo commandos are disgusting and tyrannical.
So disgusting!!! So sad.
I read that as Ho Fees raised at first 😂 in all seriousness, this is sad. Housing is just ridiculous.
Wow what a shame. I live in Tampa and this is not good for the elderly not even myself since I am one too. I tried to look at properties but not anymore.
Florida is not paradise
The same thing happened at my condo. I’m now paying $1100 just for HOA fees. Within 2 years they raise it from $280 to $1100 they don’t use the money in the reserve instead they put pressure on the residents who are on a fixed income. Very sad
$1100 a month? Reserves are for fixing big issues not day to day maintenance. Your case may be insurance costs.
Government sends ton of money to all sorts of corrupt s holes but they can't help their own citizens. You should not be forced into homelessness at this age. This is sick.
And she said, the condo board kicked the can
Who's been in charge of the state for almost 30 years?
1:47 "now people are competing to sell their properties" to get out of their HOA dues "we are seeing sharp price reductions"
Surprise surprise, it looks like HOAs don't keep property values high afterall, it looks like they just keep your costs high while devastating you home value.
Who could have seen that coming.
People should not be losing their homes due to these hoas. Why are there not laws protecting the owners. Laws seem lacking for the hoa management and propery owners.
Florida has turned into new York
Dont forget the kickbacks many HOA's are involved in.
HOA's are the problem facing affordable housing
For single family, detached homes or even traditional rowhomes, HOAs are often a hindrance. However, for a structure, such as the building shown in the story, shared by multiple families, HOA is about the only reasonable way to do it. HOAs traditionally have allowed people to buy homes they couldn't afford otherwise. It's not just the cost of maintaining each unit, but the structure and common spaces, including roads and utility lines. The alternative would be for cities to own the structures, but doubt most would like that. It's a tradeoff.
It appears from about 37 seconds in that she lives in a two story condo. Nothing in Florida law has changed there. Three stories and above are being held accountable for ensuring the buildings don't collapse.
Think it also has to do with the age of the building, I believe anything over 30 years was also affected.
Presumably severe lack of reserves and now the HOA is being forced to address that. This is a common problem. For the first 10-20 years, HOAs can be great, but after that, maintenance costs rapidly increase. Well run HOAs plan and budget decades ahead, such as for roof replacement, road and sewer repair, etc. Unfortunately, many HOAs are more focused on keeping dues down. Fine at first, but not sustainable.
@@Diane-no5nx No. Please cite references.
They need your money to live their rich lives
Our HOA has redirected water away from our all inclusive amenities Condo. VIEWPOINT EAST CONDOS, Conyers, GA. We pay HOA fees. $275 monthly HOA fees.
It's like the title of the movie No Country For Old Men regarding cost of living in the USA
Mismanagement of funds are big down here in SF
At lease she got to 'live in paradise' for 28 years. Sorry this is happening all over the country to many HOAs. I'm in Sedona, Az my HOA is $240. a month and I've been here nearly 50 years.
Worst decision i made was buying this home i luve in now. I sold my house and needed something so bought in where there are asdocistion fees. 79/mo inc yr 1 $60/mo yr two. Im out of here. They do nothing here. We dont even have meetings. I was told increases are $20-30/mo yearly. We have no rights. No law prohibits exorbenant rent increases.
I ain’t no need crying pay the dues
Who gonna buy it if the HOA is so high
Condos area joke....stay away from them folks...New regulations and Ins. cost makes them worthless.
This is not greed. This is irresponsible management, who for years has kept HOA fees too low to sustain their own buildings. The chickens have come home to roost. It is very sad.
Rent and ruin are synonymous and hoas demand rent tho call it otherwise...fraud...
Insurance costs are way up, construction costs including new and renovations are way up and house prices and interest rates are way up. With the Southside collapse condo boards can not just vote to defer maintenance like they did before. The good news is that anyone who has owned for more that a couple of years will be able to sell for a big gain. People will have to make some tough decisions. Insurance abuse and out of control lawyers has not helped the situation.
HOA and non-rent controlled living is a BIG NO. Just don't do it.
sucks when you are old and have to face this crap.
Global depression.
People moving out of Crooked Creek in Sarasota. People moving out. LEGAL FEES.
Florida.👍👍👍
Lesson learn never ever
Bought a home with H 304 fee it not worth the 304 fee and it continues
To go up 😂
😢🙏
you get what you desantis for
They’re not looking for another place to …. move 👀 !!!
they’re looking for another place to
…. LIVE . 😳
…. reporters are absolutely ignorant folks nowadays …
spinning a story , and forming sentences with the average 4th graders educational level . 👎
Yup ….
you could tell , she’s REALLY shook up and upset about the poor old woman’s dilemma. 🫣
Judgment is coming . 🇺🇸
Semper Fi
do hoa board members get paid
Some do scheme and steal
The manager and or president gets paid. I pay hoa assessments and the manager gets paid over $170,000.00 per year plus benefits!
It's a scheme.
That is why I'm moving. Never again will I pay hoa dues.
Do not live in an H O A
Rapidly increasing population combined with inflation. Florida used to be affordable even somewhat close to beaches. Not anymore. This is the new reality. Many will be priced out. Shame, but many condo associations lack adequate reserves for major maintenance items and emergencies. Now the bill has come due.
Insurance cost increase as well.
These are the issues the governor of Florida never pays attention to. He thinks he's doing so amazing but he never deals with these important issues. He isn't a good governor if he is ignoring these issues. President Trump fixed things I never thought would make it to his desk. I used to be shocked everyday when I woke up and he did something surprisingly amazing. Even once making appliances great again. Water pressure great again, Farming great again, border walls, child trafficking, made pharmaceutical prices were going down, he was making doctors give a price list for procedures. So they wouldn't be able to over charge patients for care. Made out country self reliant. Made our companies come back to America and that increased jobs, raised tariffs on China, collected money from other countries that owed us for decades. Made Mexico help us with keeping illegals in Mexico if seeking asylum. He put America first and that is why the government hates him so much because so many have sold our country out for money and they know if he gets back in office they are screwed and we need them to be held accountable. Don't be afraid of this. They owe us all these politicians have all our tax payers money in their pockets. Don't you ever question how every politician is a millionaire while we struggle to buy groceries? I do and I want this to stop. Why don't everybody else want our country free of tyrants and thieves?
F hoas!!!!
It’s not just old people are affected. They are young people too single parents that are on a fixed income making minimum wage
Yeah but the problem is all of the old people have been skating for very very cheap living in Florida for the last 40 years and now the bill has come due and none of them want to pay for it. Where is your family, Rufina?
Excuse me?How to say you're privileged and don't give a shit about anyone else without saying you're privileged and don't give a shit about anyone else. It's not just old people, sweetcheeks.
In California HOAs need reserves or no one will buy lol. Usually 25% of dues go through reserves.
Congress gave them this new power. HOA is now equal to mtg company and they're separate entities. The HOA has the right to foreclose on any late fees u owe. They don't have anything to do with what a person owes. They don't care. And the lenders won't pay anything that has to with HOA. The HOA has first right to foreclose, and when they do it'll be quick. Once u fall behind on ur fees, they send warnings, and keep adding crazy fees, lawyer fees, late fees for that and late fees on top of ur late homeowner monthly fees, and all sorts of extra shite. Ex. If they mails u something and charge u for that, they'll add more late fees just for not paying that fee too. It's a snowball effect. But once u're late they file a quick lien at court house, and if ur still late I think 3 months they file for immediate foreclosure. They take ur home and they sell it for the amount of ur late fees. And u're homeless and u are still responsible to pay ur own mortgage payment. Ex. They can take a 310k house, sell it for ur fees of say 5k and that's it it's game over. The lenders used to be the only first mtg with priority but congress changed the rules a while back. Made them equal to banks and MTG co, best thing to do is file chapter 13 immediately. Like right away. That's the only way to save ur home the only way. The lawyer will file it electronically with the court and it halts everything. And don't believe anything the HOA says, cuz what they'll do is lie and stall to run the clock down so they can foreclose if they say they'll call u back or they're gonna work with u. Do not believe them do not wait. Chap 13. Cuz once they take it it's gone u cannot get it back