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The Hidden Reasons Your HOA Fees Could Explode in 2024
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2 Reasons why your HOA fees may skyrocket in 2024
In this video I’m going to cover the two main reasons why your HOA fees may increase drastically in 2024. I will give you some insights on how this will affect real estate investors going forward.
If you're part of a homeowners association (HOA) in South Florida, brace yourself for some likely fee hikes. The deal is, new condo laws are rolling in and causing a ripple effect on HOA fees.
To sum it up, a few things are cooking up the perfect storm for increased HOA fees in South Florida in 2024. Maintenance and repair costs are going up, insurance premiums are following suit due to crazy weather, and there's a push for upgrades and amenities. Homeowners, be ready for potentially heftier fees and factor that into your budget if you're planning on owning a home in South Florida.
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▪️VIDEO CHAPTERS
00:00 The Hidden Reasons Your HOA Fees Could Explode in 2024
0:23 One Reason
0:42 Second Reason
1:52 Market Competition
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