South Florida is seeing the beginning of sky-high assessments rolling in as condo associations hire engineers to complete the necessary 40-year recertifications to stay up to code.
Last week, condo owners at the Palm Bay Yacht Club condos in Miami were told they needed to pay $175,000 each for their 40-year recertification. According to Colliers’ Greg Main-Baillie, who works with condo associations, it won’t be the last.
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