Some of the issues that the HOA’s are facing are related to the distance they are from the water. Another problem for some that you may be hearing about in the news is because of legislation that was passed that required engineering inspections on condo buildings 3 stories or higher within 3 miles of the water. Once the inspection is done the HOA budgets must be fully funded to address all repairs called in the report. This is a summary of what is expected. This has raised some issues for HOA ‘s where the repairs are more than the current value of the units.
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