I need to raise Common Charges Again - When do I tell People?

[Anonymous]

Anonymous wrote:Look at all the construction in Miami in the past 10 years. The first 6 levels above the ground are parking garages then the lobbies/communal amenities, then the apartments for the next 20-40 floors above that.

My buddy's building has their POOLS on the 10th floor in Brickell. There's nothing at the ground levels escape landscaping and the entrance to the parking garages.

All these low slung buildings in Florida, New York, etc need to be torn down. You'll never be able to get financing and eventually insurance will be too expensive.

Much of Florida should be abandoned. Same with many coastal areas in other states. Same with Las Vegas and Phoenix.

[Anonymous]

Anonymous wrote:You seem very bright, so dedicated, having gained extensive knowledge about this condo, the history, the finances, the laws, that I almost feel bad about the insulting things I'm going to say.

You seem so deep in this that you're in denial about reality. A unit may have sold recently, but very soon that's going to become an issue. You can't hold back the ocean and insurers know this. Insurance costs will never go down. As a taxpayer, I hope no government bailout of properties like this occurs.

Sell your unit now while you can. Get out and don't look back. Or buy some deck chairs and practice rearranging them.

If I had a lower level unit I would sell today. If we had another Sandy I think building dept might not allow lowers to be rebuilt. If thats the case I don’t know who those people will blame.

But in reality below ground units by beach makes no sense. Bad for then and raises flood insurance costs for all