Thereza Teixeira, a resident of Aventura, has been living in her condo for 14 years and loves it for its beautiful views and location. However, she is concerned about the increasing costs associated with maintaining her investment. In addition to her mortgage, she pays $1,390 in monthly fees, which include maintenance dues and assessments, one of which was imposed after the Surfside tragedy.
The additional assessment was for over $81,000 spread out over 20 years, adding an extra financial burden on residents like Thereza. Former Republican state senator Jeff Brandes has expressed his concerns about the rising condo costs and the potential impact on residents, especially seniors. He has urged the state legislature to hold a special session to address the looming condo crisis.
Brandes emphasized the need for a rational solution that does not bankrupt residents or compromise building safety. He called for flexibility in the deadlines set for reforms until more information is available to resolve the issue. Meanwhile, Thereza has had to adjust her budget to cover the increased fees and worries about the possibility of more assessments in the future.
Despite growing concerns over special assessments and their impact on the condo market, the governor’s office did not address requests for an interview or specific questions. Florida Senate President Kathleen Passidomo also ruled out a special session to address safety and reserve funding requirements, citing the need for analysis, collaboration, and input from stakeholders.
Passidomo believes that the upcoming committee weeks and regular session provide a better opportunity for dialogue and working towards a solution. While acknowledging that no law is perfect and improvements may be needed, she is committed to being part of the solution to address the challenges faced by condo residents like Thereza.
In conclusion, the concerns over rising condo costs and special assessments have prompted calls for action from lawmakers and stakeholders in Florida. Residents like Thereza are feeling the financial strain and uncertainty about the future of their investments. The decision to forego a special session in favor of regular legislative processes will require collaboration and dialogue to find sustainable solutions for all parties involved.