Orlando condo owners priced out by assessment fees

Residents of Regency Gardens Condominiums are worried they'll either lose or have to sell their properties after a recent notice revealing a shortfall of over $17 million in the condominium association's reserves.

[ronbennett]

Soon no one will buy a condo in Florida when their their monthly condo fee, assesements, property taxes and homeowners insurance are more than their mortgage.

[daveymcc]

Those are not proper condos. They are in fact apartments sold as condos.

[steven]

No one saw this coming? When we were thinking of retiring to Florida and doing basic research, the condo fee problem was one of the first things we learned about. Bottom line, we learned even if we paid cash for a Florida condo, we couldn't afford to keep it.

[Landshark]

It won’t be long till everyone will need a section 8 voucher

[DEE-ov]

Never buy a condo or go into an fees and assessments NEVER end...and only go up...and up...and up....and up....and up.

[TheLittleLambTalks]

This is why I’ll never buy a condo or join a HOA

[Lovely_]

My husband and I are from Miami, FL … We moved to Colorado and now own 7 acres of land. Best decision ever.

[michaelyork]

I have worked maintenance at 6 apartment complexes, in Orlando for over 20 years, I can attest that owners, and managers care nothing for maintenance in reality, just the money.
Most of the older complexes in FL have so many issues that if building codes were enforced they would be shut down immediately, and torn down.

[MarkTarsis]

A $900 a month addition to the current condo fee? LOL. That's a full mortgage payment here in the Midwest.

[stewartsmith]

I like my 5 acres in the farmland of Alabama. Nobody bothers me, I don't bother them.

[ianbattles]

Everyone wants their house to increase in value...until they get the new tax bill...

[jdm]

Vacationing in Florida is much different than living in Florida.

[mmwrangler]

One of the big problems and I’ve seen it play out too many times is the HOA boards are completely incompetent and the practice of using a popularity contest to fill the positions is extremely flawed.

[rubensantana]

We need to stop HOA’s in Florida. They are getting out of

[hadley]

Come up with $22k by July?? That’s gonna be pretty impossible for most people considering most people don’t have a lot of saving or emergency fund.

[deanofrock]

HOA fees are giving someone a license to steal. I owned a condo never again.

[sharondalynnewton]

This is one reason why I would never by a condo.

[ducheau]

i bought a place in gulfport, but decided on a small house instead of a condo. so glad I did. No HOA and insurance only 1200 a year. Condos are a trap

[lextacy]

So now its either get collapsed or get evicted. Two wrongs dont make a right.

[anthonyhayes]

You truly never own your home in America. Even if that condo is paid off, if you don't come up with that money they can forclose on you. You might as well just rent.