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 | Jan 3, 2022
Controversial California solar power incentive proposal would reduce subsidies
Plan intended to encourage customers to install power storage systems.
Codes and Standards | Jan 3, 2022
New York City bans new gas hookups
Applies to gas stoves, boilers, and heaters in new buildings and buildings that undergo gut renovations.
Codes and Standards | Jan 3, 2022
New engineering guide on fire safety for very tall buildings released
Topics include emergency egress, fire resistance, building envelope, suppression, detection, alarms, and smoke control.
Codes and Standards | Dec 22, 2021
Updated ASCE 7-22 standard includes first-ever criteria for tornado-resistant design
New document provides up-to-date, coordinated loading provisions for general structural design.
Codes and Standards | Dec 21, 2021
Outdated and redundant building codes plague St. Louis area development
Region’s combined codes nearly double the length of the IRS Code.
Digital Twin | Dec 20, 2021
Groups ally to advance augmented reality and digital twin technology
AREA and Digital Twin Consortium to work on improving how technology components interoperate.
Codes and Standards | Dec 20, 2021
Tension rises in California over state’s push to build more housing
Attorney general hints at lawsuits against cities that don’t comply with zoning reform.
Codes and Standards | Dec 17, 2021
Tension rises in California over state’s push to build more housing
Attorney general hints at lawsuits against cities that don’t comply with zoning reform.
Codes and Standards | Dec 16, 2021
Home builders defeat proposed Oklahoma energy conservation code upgrade
Builders cite high home prices for opposition.
Codes and Standards | Dec 16, 2021
Laws and regulations complicate growth of community solar gardens
New projects stymied by utility resistance and legislative restrictions.