South Florida Condo Owners Face Financial Strain from Mandatory Repairs

Special assessments and mandatory repairs are pushing many South Florida condo owners into financial hardship, with some opting to sell their properties.

At Springbrook Gardens in Fort Lauderdale, owners chose to sell rather than tackle costly repairs after the city declared the building unsafe due to foundation issues. An engineer highlighted severe deterioration in one section, prompting an urgent evacuation of residents.

The building’s 40-year inspection in 2019 noted only minor issues, but recent repairs were estimated at $4 million. Resident Warren Sackler confirmed hiring a lawyer and real estate agent to facilitate the sale.

Across South Florida, similar stories unfold as condo owners face high assessments for structural compliance. Bill Brown, a Birch Road condo owner, said his building could afford repairs but called for more support for those who can’t.

Miami-Dade County offers a Condo Special Assessment Program providing 0% interest loans up to $50,000 for eligible homeowners. Director Alex Ballina emphasized the program’s role in helping residents manage repair costs.

Sackler, meanwhile, plans to buy a new home after the sale, facing the challenge of starting over in a competitive market.