Residents are fighting back
Now a small but increasingly vocal group believes the money is being mismanaged by their condo association.
They’ve complained to the Florida Department of Business and Professional Regulation (DBPR), which is responsible for licensing and regulating businesses and ensuring real estate agents and businesses follow regulations.
According to WFLA, the department sent a letter to residents confirming that it would launch an investigation based on the complaints, with the following wording:
“Based upon an evaluation of the alleged statutory violation and the submitted documentation, the Division has determined that it will proceed by conducting an investigation specifically regarding potential violations.”
While condo residents struggle with rising costs and slow repairs, a broader trend may be at play. Homeowners Association (HOA) fees are rising nationwide, particularly on condos.
Realtor.com reports that HOA dues are more common for condos, with HOA fees levied on 83.8% of condos for sale in 2024 compared to 33.6% of single-family homes. HOA fees on condos are also higher, averaging $375 per month compared to just $58 per month on a single family home.
Realtor.com notes that areas like St. Petersburg with a high concentration of beachfront condos are also likelier to be hit with HOA fees.
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Learn MoreRising HOA fees and Florida disasters
The very thing that makes beachfront properties desirable makes them vulnerable to natural disasters, which are also driving HOA fees, special assessments and insurance higher.
Florida home insurance premiums soared 60% between 2019 and 2023 in the wake of hurricanes and widespread flooding, according to Reuters.
Then there are tragedies due to structural issues in older condo developments, like the 2021 collapse of Champlain Towers in Surfside, Florida, which killed 98 people.
Investigation revealed that the building needed extensive repairs but the condo association lacked funds to complete them. In response, Florida has passed a law that condo associations must have enough set aside in reserve funds to cover major repairs as building components reach the end of their lifespan.
For example, if a roof will last 20 years but cost $20,000 to replace, the HOA must set aside $1,000 a year over 20 years to pay for it, money raised through special assessments. Add in the cost to replace aging HVAC systems, electrical components, plumbing, and other infrastructure, and the financial burden on condo owners increases significantly.
The repairs are not something condo associations can ignore. The Surfside tragedy led Florida lawmakers to mandate regular structural inspections for buildings over 30 years old and three stories tall or more. Condo associations must pay for any issues identified in these inspections.
As state regulations tighten, condo associations must balance safety compliance with financial feasibility — and communicate why fees are increasing with residents.
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