JENSEN
BEACH - An oceanfront condominium association is asking residents to pay
an assessment that's about a sixth of the listed sales price of a
typical unit in order to cover building repairs.
One resident, Ellen McKinley hasn't decided if she will pay the $60,000
charge at The Island Club Condominium. And she worries that some
residents at the condominium will not be able to afford that amount.
"I hope that nobody will have to pay for this $60,000
assessment," said McKinley, a retiree who has lived in her unit for
12 years. "It depends on the outcome of the recall and how the
board chooses to deal with the problem."
Residents of the 92-unit building were informed this summer that a
forensic engineer has advised the condo board that the building's
concrete needed repairs. Additionally, most of the building's original
windows from 1978 also need replacement.
The condo association
repairs that will likely total more than $5 million.
The $60,000 figure is about one-sixth of asking prices of $350,000 to
$360,000 for a two-bedroom, two-bath Island Club unit on the Web site
Condo.com.
The repairs are a matter of safety and the building's marketability,
condo association president Donna Regenstreif said.
"We have been told that we have no choice," said Regenstreif,
who has owned her unit for five years. "We legally need to do the
repairs because the property is deteriorating. If they (replace the
association board), they'll find themselves in the same pickle six
months down the road."
McKinley is spearheading an effort to recall the condo board, which was
elected in March. She said some residents cannot afford the assessment,
and she's worried the association would place liens on units whose
owners don't pay.
Those owners have had ample time to finance the assessment, Regenstreif
said. Some owners have been offered grace periods and extended payments.
Disagreements over repairs are common between residents and homeowner
associations, said Kenneth Direktor, an attorney with Becker &
Poliakoff.
"There's always a few people that will not agree with you, said
Direktor, who represents clients from Vero Beach to Miami.
Under Florida law, condo board members can be recalled, he said.
"All you need is a majority to have any or all of them
removed," Direktor said.
A homeowner association needs to maintain the common property such as
outer walls and windows to avoid sudden and costly expenditures like
that at The Island, said Brad Hunter, who follows housing trends on the
Treasure Coast and South Florida for Metrostudy's South Florida
division.
"Looking for a scapegoat doesn't do anyone any good," Hunter
said. "They just have to find the money to get this work done
now."