South Florida Sun-Sentinel
October 30, 2023
The one-two punch of the post-Surfside law designed to require condominium associations to set aside sufficient reserves for structural repairs combined with Florida’s unending increases in insurance costs is threatening to produce a wave of foreclosures.
“People are going to be losing their homes. Foreclosures are increasing,” warned Broward County Commissioner Mark Bogen. “As it looks right now, there are going to be so many people unable to live in their homes. … This is going to really be a crisis in our state.”
The concerns are coming from across Broward County.
Bogen represents northern Broward, including Wynmoor Village, the large condominium community in Coconut Creek. And in his non-elected job, as a lawyer, he does a lot of work on condo issues.
“The condos have been hit hard,” said state Rep. Robin Bartleman, who represents southwest Broward. “You can’t walk into Century Village right now without hearing” concerns.
At another condominium, in Miramar, Bartleman said residents have to pay assessments for roof work, more money for higher condominium association insurance, and assessments to increase reserves.