“If you own a Condominium in Florida or are considering owning one this article may interest you…”
Condos at the beach along South Florida’s Gold Coast have been part of that environment since the 1960’s and 70’s. Victor Posner developed many of the condos along A1A in Hallandale. Since the early rush of developers it has been an evolution of change. The first big changes in the 80’s were the renegotiation of unconscionable Rec Leases, and the empowering of the Condominium Act 718. These actions were intended to protect unit owners from abuses by developers and condo boards. For many years unit owners elected boards and had the confidence that if there was a problem with management they could call upon the Florida Department of Business Regulation for help and get reasonable action. Condo boards were compelled to adhere to the rules. Those were also much gentler times and Hallandale’s beachfront was the vacation home or residence of those over 55 and retirees.
As years went by many people with different ideas and needs started to buy units resold by original owners or bequeathed to the next generation. While this evolution was going on the state in 2000 elected to allow condos to be self managed. This worked well for many years because there were enough people with similar reasons of ownership. By 2006 the tide started to shift away from Vacation, over 55 and retirement as the reason for ownership, towards; investment, absentee ownership and short-term vacation rentals. As this change evolved the State relaxed its enforcement and many people with questionable or self-serving agendas dug in. The early days of the “wild west” in Florida are back. This time with self-interest, greed, and what’s in it for me; as reasons for joining boards of condos.
A great number of concerned, questioning, knowledgeable, quality of life minded, resident owners are caught in this tide of change. Now more than ever by laws, rental rules, occupancy rules, common area usage, elections, budgeting, along with legal and good business practices are all at stake.
What those who have self-serving agendas ignore is that as they destroy what has been so desirable to them as well as others who have always enjoyed, it’s all of our property value, that is at stake. No matter your interest, it should be reason enough to abide by and live by the rules and not jeopardize what was never intended as a B&B, vacation rental, short-term rental, dorm style residence, or buy and dump for quick returns investment property.
Today as the state stands back with folded hands many beach front communities are on the path to become nothing more than a “used to be nice”, and now “a ghetto of self-interest and greed!” So when it comes time to vote for your board, make sure who you are voting for, their qualifications, agendas and that they will; protect your property value, your needs and the communities. Otherwise you may be in for a big surprise when your board does not work legally or follow good business practices and you are the looser.
My opinion is your property should not be jeopardized because of inferior Board Practices! Vote based on candidates qualifications; not because you are being pressured by self-interest groups or their aggressive tactics.
alan b. meschkow
President Plaza Towers South 2008-2013follow me on: