From Yahoo Finance: 2025-05-25 16:31:00

Residents at the Heron Condominiums in West Kendall, Florida are facing a $3.48 million special assessment for necessary repairs following new regulations post-Surfside condo collapse. The assessment is divided among 250 units, offering payment options of a 10-year loan or self-funded payments. Concerns arise over transparency and financial strain.

Governor Ron DeSantis signed a bill to provide immediate financial relief for condo owners, allowing associations to access lines of credit for repairs. While offering short-term aid, the bill may lead to ongoing monthly payments or higher condo dues. Some residents, particularly seniors on fixed incomes, may struggle to afford these expenses.

The post-Surfside condo regulations in Florida have created financial strain for condo owners, especially those on fixed incomes. Some residents may not qualify for loans to cover assessment costs and could face challenges finding comparable housing options. This may lead to selling below market value, downsizing, relocating, or renting in more affordable areas.



Read more at Yahoo Finance: Florida condo owners fear losing their homes after being handed shocking $3.5M assessment