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Condo association is weighed down with financial burden


Question:

Florida condo association with 182 units and 59 are in arrears 90 days plus. Our bylaws state any owner 30 days past due voter rights are suspended until such a time as they become current in their payments. We are struggling to maintain the expenses and now have 40 year re-certification violations mandated by the county. Our owners are maxed out with trying to pay of the last special assessment and our bank wants a personal guarantor in order to apply for a condo association loan, which we can not and not be willing to do. Any advise on where to go from here?


Answers (5)

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