The condominium form of ownership has been a popular way for many to enter the ranks of homeownership, but the concept is under strain.
As the buildings age, owners’ associations that typically do not have expertise in building maintenance, tend to not plan or plan inadequately for critical maintenance needs. This may have been the case with the recent collapse of a condo building in Surfside, Fla.
Association boards often focused on keeping regular assessments low, and only prioritize maintenance that produces visible, immediate outcomes, according to a 2020 report by the Foundation for Community Association Research. This results in deferring necessary but less prominent repair projects.
As a result, some economists say that it was a mistake for governments to encourage condos and related forms of ownership such as housing co-ops and homeowner associations. The issue of deferred maintenance has even prompted some condo buildings to be “de-converted” to rental properties in recent years.
Related Stories
Codes and Standards | Mar 6, 2017
ConsensusDocs updates standard short contract editions
The updates address industry changes impacting insurance, legal, technology, and terminology.
Codes and Standards | Mar 3, 2017
ASCE updates standard for structures using tensile membrane
The new sstandard combines guidelines for conventional tensile membrane structures with frame-covered membrane structures.
Codes and Standards | Mar 1, 2017
EPA's 2017 Construction General Permit now in effect
The regulation governs compliance with effluent limits.
Codes and Standards | Feb 28, 2017
Concern grows for high tide flood vulnerability in Mid-Atlantic states
Washington, D.C., and Annapolis, Md., could flood every three days by 2045.
Codes and Standards | Feb 27, 2017
Green building saves operating costs and boosts asset value
A new report shows 14% cost savings and a 7% increase in value when green standards are met.
Codes and Standards | Feb 24, 2017
Scant data hampering energy, water efficiency at sports venues
New NIBS report says baseline information needs further development.
Codes and Standards | Feb 22, 2017
Plans for WELL Building Standard include linkage with other green building standards
The planned updated version will be customizable for any building type.
Codes and Standards | Feb 21, 2017
Aging building code inspectors and government belt-tightening could cause crisis
Inspectors are edging toward retirement with no understudies in place.
Codes and Standards | Feb 20, 2017
AISI publishes three new cold-formed steel framing research reports
Seismic simulation, roof trusses, steel-to-steel and sheathing-to-steel connections are examined in the reports.
Codes and Standards | Feb 17, 2017
New energy design guide for metal building systems now available
The second edition incorporates more recent IECC and ASHRAE standards.
