Orlando Business Journal interviews John Cadden on condo challenges

Hear from expert John Cadden on why Florida’s condo market is dire

John Cadden, interviewed by Orlando Business Journal, speaks on the impact Florida condo owners are facing following the 2021 Surfside collapse. Under state law, condominiums are confronting new requirements and hefty fees. Buildings over 30 years old (20 on the coasts) must be inspected. Owners must contribute to reserve funds for repairs, with assessments potentially reaching $100,000. 

Cadden attributes the severity to low participation in condo board meetings and a previous reluctance to collect necessary fees. He advises owners to consider loans for reserves and stresses the need for proactive involvement and planning.

These insights highlight the urgent need for Florida condo owners and associations to adapt to the new regulations, stressing the importance of proactive planning, community involvement, and financial preparedness to meet these significant challenges.

Read the news article

Ready to determine the best course of action for your property? 
Contact us today!


mail icon facebook icon twitter icon linkedin icon

Insert your email:

Resource Form