Owners upset over rapidly rising HOA, condo fees

No money empty pockets poor

By Deborah Goonan, Independent American Communities Whether you own property in a planned community or a condominium, beware of unexpected fee increases. Here are three recent examples: Homeowners in Tennessee debate how to pay to update their aging amenities; an aggressive board forces owners out of their Florida condos with excessively high fees; and a flash flood destroys basement common areas and condo units, but insurance won’t cover the full cost of repairs.   HOA Continue ReadingOwners upset over rapidly rising HOA, condo fees

CT condo homeowners plead for help with their crumbling foundations

Crumbling foundation repair Lakeview Condo CT

By Deborah Goonan, Independent American Communities   For the past three years, I’ve been following the crisis of crumbling concrete foundations in Connecticut and Massachusetts. Debra MacCoy of Vernon, CT, and several other condo owners recently contacted me, and shared important details about the dilemmas and special challenges they face, as owners of condos and homes in common interest communities. The problem — defective concrete leads to crumbling foundations Dozens of towns in Connecticut and Continue ReadingCT condo homeowners plead for help with their crumbling foundations

CT ‘captive’ insurance assistance for HOA, condo homeowners with crumbling foundations

Cracked concrete foundation

By Deborah Goonan, Independent American Communities   For several years, IAC has been following the epidemic of crumbling concrete foundations in Connecticut. Many of the homes are part of a PUD (planned unit development with an HOA) or condominium, where two or more units share the same foundation. The cost to replace failing concrete foundations is massive — often as much or more than the home is worth. State legislators continue to find solutions for Continue ReadingCT ‘captive’ insurance assistance for HOA, condo homeowners with crumbling foundations

Condo ownership not so affordable in Darien (CT)

piggy_bank-affordable-housing

By Deborah Goonan, Independent American Communities According to an article in Darien News, owners of 30 units at Clock Hill Condominiums can barely afford to pay their condo and land lease fees, as they struggle to maintain their common property. Condo owners pay $70 per month to lease land from the City of Darien, and an extra $300 per month in condo association fees for maintenance. Most of the residents are living on Social Security Continue ReadingCondo ownership not so affordable in Darien (CT)