MIAMI, Fla. — Just weeks after Redfin reported Tampa saw the highest jump in condo HOA fees year over year, Governor Ron Desantis held a roundtable discussion Monday to look at possible solutions to help ease the pressure on condo owners.
He heard horror stories from condo owners and those in management, including condo association president Kevin Patrick Cortina.
"30% of people living in my building have lived there for since the inception of the building, since the 70s," Cortina said. "So they're literally looking at their entire life, where their kids grew up, where they raised their families, and they're struggling to make ends meet."
More from condo association president
The skyrocketing costs have little to do with insurance, which wasn't discussed at the roundtable. Instead, the focus is on reforms put in place after the collapse of a condo building in Surfside, Florida, that killed nearly 100 people.
Legislators passed significant reforms, including requiring condo buildings to complete inspections and make preventative repairs by December 31 to keep them safe.
But some are crying foul over a provision requiring condos to fully fund their reserves for future repairs. Condo owners and associations say this has led to sky-high special assessments that make living in a condo unaffordable.
Condo owner speaks to Governor DeSantis
"The legislature engaged in a good-faith effort. But it sounds, and this is feedback we've been receiving now for many months, it sounds like there are a lot of condo unit owners who are just not in the financial position to pay large assessments on such short deadlines," Governor DeSantis said Monday.
While the problems may not be resolved soon, some potential solutions are being discussed.
Governor DeSantis discusses solutions
One such proposal would push back the December 31 deadline for fully funding reserves. A second proposal is to offer zero-interest loans to condo associations or owners to fund the repairs and space out the payments.
Former Florida Senator Jeff Brandes said the problems aren't creating just an affordability crisis in the Florida condo market but could cause a collapse.
"We're talking about tens of thousands, probably hundreds of thousands of Floridians who are impacted by this, that are left without options," Brandes said. "It's a lot of heartbreak, and it's bankruptcies and it's foreclosures."
Brandes said a one-day special session to fix the issue, including pushing back the deadline, could help. However, Senate President Kathleen Passidomo sent a memo to fellow legislators saying she had no intent on calling a special session.
Instead, Senate President Passidomo said the issue would be dealt with in the 2025 legislative session.
While that may be Passidomo's position, Governor DeSantis said Monday he doesn't want to wait that long to find a solution.
"She didn’t know what she was getting into. She didn’t know she’s signing away her property"
I-Team investigator Adam Walser is hearing from a 91-year-old Lakeland woman who signed a contract to sell her home which she says she did not understand and is now being sued.
