SB 154 - what this may cost you - $300 Billion? |
An
Opinion By Jan Bergemann Published March 28, 2023 We have at many occasions talked about the cost for owners living in hi-rise condominiums caused initially by SB-4D enacted after last year's session. During this year's legislative session Senator Jennifer Bradley (SB 154) is offering some remedies to ease the financial burden, but in reality these are just band-aids, not a real cure.
Ken
Kmet has managed Florida coastal condominiums and HOA’s as a CEO for
over 40 years. He serves as a management consultant to community
associations via his website CONDOVOICE
and has provided construction management services for over 100
restoration building projects. Ken has put together an interesting
video that should show you what the real cost for condo owners will be
-- after
SB 154. Take a look at the video and the numbers and you will
see that it's even worse than anticipated.
We all know that management companies lack the expertise to supervise structural construction work -- even if they try to charge associations for it -- see small print in many association management contracts -- in my opinion a total waste of good association funds.
Ken Kmet is also offering a solution to remedy this problem. Here are his suggestions:
And he offered this amendment to Senator Jennifer Bradley to add to her bill:
What do you think? Please let us know?
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