Rising Condo Association Fees???

Replies to This Discussion

Permalink Reply by Antonios on March 8, 2008 at 5:34pm

My biggest beef is that we all should have been notified that there was a meeting and that there was going to be a vote on the condo fees. We own the building and are in control of what the condo association does. Does anyone know anyone on the board? I know there was a vote on who would be the members of the board just before New Years Eve. Also I was told by the developer that the fees would remain the same through 2008.

Permalink Reply by Alex (MUL) on March 8, 2008 at 5:41pm

I closed Dec. 4th, but I wasn't notified of any vote for the board members or a vote for raising the fees. I knew they would go up eventually due to the higher condo insurance costs, but I didn't know how much.

To be honest, the increase was not too bad compared to other buildings I've seen. I know at One Miami they pay around $900+ /mo. for the 1,400 SF units.

I just hope they don't keep going up. As owners, we should find out how to get more involved in this voting process.

Permalink Reply by Karim Matos on March 8, 2008 at 5:48pm

Well, The apartment that I rented in Kendall, the association, who happens to be The Continental Group raised the association fee this year in January as well. I was not aware of that nor did i recieve any invitation to the meetings to vote on this.

So far I see its the only assocation group that raised there fees, I have other apartments rented in Miami, but different associations, Atlas property Management, Timberlake Management, which now have me on a special assessment and i still havent seen anything done with the money and Unlimited property management which i find to be the easy going and they even decreased the association fee.

The Continental Group are the once who raised the association fee 58.00 more on my apartment on Horizons West

Permalink Reply by Antonios on March 8, 2008 at 5:57pm

The thing to remember here is that the Continental group does not have the authority to raise the condo fees. Only the condo board has that authority and they are members of the community. I do not know who they are but when I saw the notice to elect the board members there were only three applicants so there was really nothing to choose; I assume they were all put on the board. I'll be talking to the management office on Monday to get an answer.

Permalink Reply by Karim Matos on March 8, 2008 at 6:00pm

Good luck, as much as tried to argue, discuss and complain at the management office from my apartment, they wouldnt do much, they might promise you this or that, but at the end I still have to pay the increase .

Permalink Reply by Antonios on March 8, 2008 at 6:08pm

I know the uselessness of trying to get anything out of the management office all too well. But the condo board has certain procedures that they must follow and if the procedures were not followed correctly we may be able to get the increase repealed.

Permalink Reply by Alex (MUL) on March 14, 2008 at 11:05am

Antonios,

I'm sure the increase was due to a deficit in the original budget. I doubt they would increase the rate otherwise. The problem is that many of the units are still unoccupied and that could lead to further increases or special assessments to cover a shortage. Hopefully Related's rental program for unsold developer units will alleviate that problem. Please let us know if you hear any updates from management.

Permalink Reply by Alex (MUL) on January 8, 2009 at 12:00pm

So the latest is that the Association Fees went up about 50%. I haven't had a whole lot of time to get involved with the details, but I heard this was mostly related to money being collected for reserves.

Owners at 50 Biscayne should try to get involved with the board. They are supposed to be having a meeting soon to bring the fees back down, but there will be a voting process.

Any updates on this would be appreciated.

Permalink Reply by Antonios on January 8, 2009 at 2:17pm

One thing everyone should keep in mind is that they are required to provide audited accounting statements showing all the cash flows from the condo fees. Everyone needs to take a look at this when it is sent out; you need to know what they are doing with the money. I don't know when the deadline is to get this information out but I'll post when I find out.

Permalink Reply by lovedowntown on January 11, 2009 at 11:44am

If you don't mind me asking, how much is the association fees for a 2 bedroom in this building? and what will be the new monthly fee for 2009?
Thanks

Permalink Reply by Antonios on January 11, 2009 at 11:46am

current 2 bedroom fees are $637 and the new fee has not yet been determined.

lovedowntown said:

If you don't mind me asking, how much is the association fees for a 2 bedroom in this building? and what will be the new monthly fee for 2009?
Thanks

Permalink Reply by lovedowntown on January 11, 2009 at 12:04pm

Thanks Antonio! We currently live in Miami Shores at Towers of Quayside. We have been trying to sell or unit to move to downtown. Maintenance fee here is $1100 per month for the smaller 2 bed 2 bath unit. It does have a lot of amenities. We just don't use them. looking forward to move to downtown sometime.

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