Winter Park condominium owners face skyrocketing HOA fees

By
Updated  December 13, 2024 9:45pm EST
FOX 35 Orlando
Loading Video…

This browser does not support the Video element.

Winter Park condominium owners face skyrocketing HOA fees

Residents at a local condo complex are grappling with skyrocketing HOA fees, with some seeing their monthly costs increase from $400 to more than $2,000 in just a few years.

The Brief

    • Residents at Winter Park Woods condo complex are facing massive increases in HOA fees, with some seeing charges rise from $400 to over $2,000 a month.
    • The hikes are largely due to new state regulations requiring larger reserves for infrastructure repairs following the Surfside collapse.
    • Experts advise condo owners to be more involved in their HOA decisions to help control costs.

WINTER PARK, Fla. - Residents at a local condo complex are grappling with skyrocketing HOA fees, with some seeing their monthly costs increase from $400 to more than $2,000 in just a few years.

Cindi Moran, a condo owner at Winter Park Woods, says her fees have surged dramatically since she purchased her unit in 2022. Despite spending significant time and money on renovations, she has not seen any substantial improvements to the property. 

"Renovated it, gutted both bathrooms, gutted the kitchen, repainted everything, redid all the trim, doors, everything," she said.

The HOA fees were $400 a month when she moved in, and now they are rising to $2,081 going into 2025, she told us.

MORE STORIES:

Retiree Alexander Austriaco, another resident, also faces similar increases and says he may need to return to work to cover the rising costs.

Insurance expert Karl Susman attributes the hikes to new state regulations implemented after the Surfside building collapse, which require HOAs to maintain larger funds for infrastructure repairs. 

"The inspector comes out and says, ‘We have to shore the building up, do other upgrades and improvements to bring it to code to be more weather-resistant.’ The HOA is basically forced to go forward with that, which means a lot of money to the individual homeowners," he said.

He advises owners to get more involved with their associations and ensure the legitimacy of contractors and inspectors.

STAY CONNECTED WITH FOX 35 ORLANDO:

"Be sure that the person coming out and giving the bids is legitimate," he explained. "Get one or two different bids out there. But remember the law won't let you pick just anybody; it has to be a licensed contractor for that type of business."

The Winter Park Woods HOA has not yet responded to requests for comment.

The Source: Information for this story was provided to FOX 35 News by condominium owners at the Winter Park Woods complex and from insurance expert Karl Susman.