US News 'People losing their homes': Florida condo owners struggling to afford skyrocketing HOA fees

tom_mai78101

tom_mai78101

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ORLANDO, Fla. — Looking to rent in northern Orange County? Online listings for Winter Park Woods are less than $1,800 a month.

“And I love this location, which is why I stayed here all this time, through the ups and downs,” Winter Park Woods condo owner Lorraine Roy said.

For Roy to keep living in her three-bedroom condo of more than three decades, her new monthly HOA fee has tripled to $3,371.79.

“This is way too high,” she said.

The Winter Park Woods Condominiums Association provided owners with three reasons for the HOA fee hike.
  • Orange County is owed millions of dollars for code violations
  • Insurance compliance
  • Senate Bill 4-D, the legislation passed in response to the Surfside condo collapse in South Florida that killed 98 people in June 2021
“We underfunded the reserves,” Roy said. “That has been happening.”

www.wesh.com

Florida condo owners struggling to afford skyrocketing HOA fees

“Developers are going to come in and buy out the existing condo owners," a former Florida lawmaker said.
www.wesh.com www.wesh.com
 
No way any of those people will pay that. There are many other places in Florida you can live for less. The problem is for people that own property there as it will be very hard to sell.
 
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