Ask Nanci
Why are condo and HOA fees rising in South Florida?
Short Answer
Condo and HOA fees are rising in South Florida mostly because the buildings' real costs went up: association insurance premiums have climbed sharply, and new state law requires many buildings to fully fund reserves for major repairs instead of putting them off. When decades of deferred maintenance meet higher insurance, the monthly fee and sometimes a special assessment absorb the difference.
General information, not legal or financial advice.
The insurance piece
Association master policies insure the building, not just your unit, and those premiums have risen dramatically across Florida in recent years. When a building's insurance bill climbs, the association has to collect more from owners every month to pay it.
Wind and flood exposure, plus the cost of rebuilding, all feed into what the building pays. Higher building insurance is now one of the largest line items in a condo budget.
The reserve rules
After the Surfside collapse, Florida law changed how condo associations fund future repairs. Buildings three stories and taller must now complete structural integrity reserve studies and, in many cases, fully fund reserves for critical components like the roof, structure, and waterproofing. Owners can no longer vote to waive those reserve contributions.
Funding reserves properly is the financially healthy move, but it means fees reflect the building's true costs for the first time in years, which is why owners see larger monthly increases.
This is general information, not legal or financial advice.
What it means for buyers
Higher fees are part of the monthly cost of condo living, and they are not a reason to avoid condos. The important question is whether the building is healthy: reserves funded for the work ahead, insurance in place, and no giant special assessment lurking. A building that is honest about its costs is a better purchase than one hiding them.
We build the full monthly number, including the association fee, into your budget before you ever make an offer.
What it means for sellers
For sellers, buyers will review the association's finances closely, and a building with rising fees is not unusual across South Florida right now. Presenting the association's documents clearly, and knowing the story behind the numbers, keeps the conversation constructive.
A seller who understands the building's finances can answer buyer questions confidently instead of letting them fester.
How Nanci can assist
When you buy a condo, I review the association's financials and reserve study with you before you commit, and I am direct about what the fees really support. When you sell, I make sure the building's story is told well to buyers.
The goal is the same on both sides: nobody is surprised by the monthly number or the building's condition after closing.
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