'HOA wants to increase [dues] by 94%': Florida condo owner asks for advice for skyrocketing HOA fees

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Remy Millisky • Writer and Editor
Jun 5, 2024 5:00 PM EDT

Some people refuse to buy any property that's on an HOA-owned territory for reasons just like this. A Florida condo owner is wondering what to do after their terrible HOA decided it would nearly double the monthly dues! 

It's tough out here for a lot of Americans. You can work multiple jobs and still be barely scraping by. This person, u/BearlyGerry, is doing just that: working a full-time gig plus a part-time job on the side just to make ends meet. But their HOA (homeowners association) has decided to increase their budget, and they're making that the problem of all the condo residents. 

In the comments, people both commiserated with this Floridian and provided some good advice. One warned that since this is Florida, buildings are more prone to breaking and needing repairs. Even though no one wants to pay for thousands of dollars worth of insurance increases and structural studies, someone has to. It doesn't seem fair for the residents of the building to have to foot a massive bill all on their own. This HOA is demanding a crazy amount of money from the condo owners, and unfortunately, there's not much to be done about it besides moving to a place where an HOA isn't in charge. 

Up next, these people had some hilarious misspellings, like one person who wrote, "It is a very small issue in the gran stephen things."

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  • 01
    Cheezburger Image 10356990208
    via Michael Monahan on Unsplash
  • 02
    How can you appeal an HOA Increase? My HOA wants to increase by 94%
    via u/BearyGerry
  • 03
    Hi all. Typing this while in tears because I feel my heart shrinking. At the beginning of the year I used all my savings and purchased a 1/1 704sqft condo in the area of Altamonte Springs, FL (Near Orlando). These condos are located in buildings of 2 and 3 stories, built approximately in 1986.
    via u/BearyGerry
  • 04
    I moved in March 2023. I pay $1200 on the mortgage and $400 on HOA, because at the time, paying these $1,600 and utilities to live alone, was cheaper than to rent somewhere else. I just received a letter saying they will adopt a new budget increasing by 93.53%, taking my HOA from $399.58 to $773.32.
    via u/BearyGerry
  • 05
    I currently have two jobs: a full-time job, and a part- time job, I have no debt except my condo, and I own my car, but I only make enough to pay my bills and put a few hundred in my savings. Even with those two jobs, I won't be able to afford this, it is insane, it should be illegal.
    via u/BearyGerry
  • 06
    Their reasoning for increase is a 35% increase in insurance premium, Fire Life Safety Inspection from City of Altamonte Springs, Milestone Inspection, Structural Integrity Reserve Study.
    via u/BearyGerry
  • 07
    The board is meeting on 10/30/2023 to approve this budget, and the letter also says "The money to pay for all these projects must be collected in advance". I don't know what to do, I need help, please, I am desperate.
    via u/BearyGerry
  • 08
    nozzery The only way to combat these sorts of things are to get the votes on your side. Ultimately if the money is needed the dues will go up one way or the other. The HOA is the owners, in the end.
    via u/nozzery
  • 09
    zugi As someone said, the HOA is theoretically the owners, which now includes you. Look over their (now your) past budgets and read up on the details of these proposed expenses, looking for any possible ways to reduce the HOA cost:
    via u/zugi
  • 10
    • Did they get multiple quotes on the insurance premium, or just get an increase from their current insurer? Did they try different agents/brokers? • For the inspections and studies, did they get multiple quotes? Is any of the work going to a "referral" or
    via u/zugi
  • 11
    friend of someone on the board? • Can other costs be trimmed this year to help pay for these new expenses? Enlist your neighbors to help. You aren't the only person there shocked at the proposed increase.
    via u/zugi
  • 12
    Nervous-Internal-610 Unfortunately this is the beginning of a huge nightmare for Florida and California HOAs in terms of insurance.
    via u/Nervous-Internal-610
  • 13
    manga311 Unfortunately, it has hit my HOA as well in Minnesota. So many insurance companies are getting out of insuring large complexes that our insurance went up 35%.
    via u/manga311
  • 14
    Roccia 19 State laws recently changed regarding condos which combined with the states insurance crisis are and will continue to drive significant increases to HOA fees and in cases trigger special assessments.
    via u/Roccia 19
  • 15
    cranberrydarkmatter This is pretty common in older large condo buildings. As the building ages, dues go up to repair all the things that start needing repairs.
    via u/cranberrydarkmatter
  • 16
    In Florida you're in a hurricane zone and floor insurance rates are going up so insurance is definitely increasing. I think some insurers are just pulling out of the market altogether.
    via u/cranberrydarkmatter
  • 17
    asatrocker You can help the board find cheaper insurance. That's about all you can do. You can vote against the budget, but there's certainly a requirement that the building have insurance, so your dues are going to go up one way or another.
    via u/asatrocker

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hoa home owners association work finance working florida finances advice money
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