Condo Problems:

Historical Perspective

5 Big Roadblocks to Maintaining Condo Values

According to The Florida Bar Association Condominium Life Safety Task Force, approximately 60% of Florida’s 1.5 million condominium units are more than 30 years old -- and few are fully funded in their reserves.

Five obstacles to maintaining condominium values, and the reason each one persists.
Lack of…	Illustration	Reasons why…
Periodic Building Inspections, Reserve Studies, Adequate Reserve Funding		Human tendency to ‘kick the can down the road’ both in commissioning inspections and in funding what those inspections reveal.
Preventive Maintenance Check Lists		Demands heavy administrative overhead to create and maintain.
Hands-On, Day-to-Day, Pro-active Property Management		Part-time property managers are often spread thin at multiple properties.
Understanding of Financial Health Basics Condo owners New buyers Board Members Real Estate Agents Home Inspectors		It is time-intensive to collect the data and train the stakeholders. Florida has the most comprehensive statewide mandate. Nevada and select counties (e.g. Montgomery County, MD) require some form of board training or certification.
Ongoing Monthly Building Repair & Community Event Updates		Gathering information and drafting updates can be slow and tedious.