ALTAMONTE SPRINGS --
Residents of Lakewood Park Condos in Altamonte Springs
called WESH 2 Investigates after getting the stunning news
from their homeowners association of a nearly 100% hike in
fees.
A Monday night meeting
of the HOA was packed, with the overflow spilling outside,
trying to listen on a conference call line as the Board was
about to vote.
“It’s ridiculous,” said Hannah Lucero, an owner who talked
with WESH 2 Investigates. She said her HOA fee is set to
nearly double, from $404.12 per month to $782.12.
According to the fee schedule obtained by WESH 2
Investigates, every owner is facing a hike of 93.53%. There
are six different condo sizes. If the fee hike is
implemented, an owner of the smallest unit at 649 square
feet will pay $712.93 per month. An owner of the largest
unit, at 926 square feet, will pay $1,017.19 per month. |
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Lucero added, “It's
shocking! It makes me mad. I just don't understand, how, if
there was mismanagement of funds, I feel like they should
have seen this coming, and I feel like now it's being put on
residents for us to cover for their mistakes.”
WESH 2 Investigates also talked with renters who are worried
the fee hike will either be passed on to them in higher
leases, or owners might sell, forcing renters to move.
Renter Mario Catalfamo said, “So there's a lot of concerns.
There are a lot of people here that may not be able to
afford this increase, and it's going to be a struggle for a
lot of people in this economy.”
People we talked with here say they understand that fees
have to be assessed to, for example, maintain buildings. We
saw the façade on one condo unit being replaced, old stairs
being replaced, just some of the kinds of things that are
paid for from HOA budgets.
Folks at Lakewood Park are not alone in facing fee
increases. Insurance premiums, larger required reserves for
repairs, and more frequent inspections are required,
following the passage of a new Florida law in the wake of
the Miami Surfside condo collapse in 2021.
Before the Lakewood Park Board voted 4-1 to approve the fee
hike Monday night, frustrated owners who never got in the
door, never got to weigh in with their opinions, were left
disappointed and not knowing how long they may be able to
continue to live in the complex, just south of the Altamonte
Mall and State Road 436.
WESH 2 News reached out to Sentry Management, which runs the
property for the HOA. We'll update our story when we hear
back.