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
| May 25, 2012
Study: Safety inspections don’t hurt the bottom line
A new study suggests that random safety inspections by regulators help reduce injury claims without hurting profits.
| May 24, 2012
2012 Reconstruction Awards Entry Form
Download a PDF of the Entry Form at the bottom of this page.
| May 17, 2012
New standard for Structural Insulated Panels under development
ASTM International and NTA, Inc. are developing a new standard for Structural Insulated Panels (SIPs) that would create a path for U.S. manufacturers to meet the requirements of the Canadian building code.
| May 17, 2012
Webinar: ‘What Energy Codes and Standards Are Adopted Where and by Whom’
A June 12 webinar by the Construction Specifications Institute will outline what energy codes and standards have been adopted in each of the states for commercial buildings, and what is anticipated to be adopted in the future.
| May 17, 2012
California Governor orders new green standards on state buildings
California Gov. Jerry Brown issued an executive order recently that calls for all new or renovated state buildings of more than 10,000 sf to achieve LEED Silver or higher and incorporate clean, onsite power generation.
| May 17, 2012
New Zealand stadium roof collapse blamed on snow, construction defects
Heavy snowfall, construction defects, and design problems contributed to the collapse of the Stadium Southland roof in New Zealand in September 2010, a report has found.
| May 17, 2012
OSHA launches fall prevention campaign
The Occupational Safety and Health Administration (OSHA) recently launched an educational campaign to prevent deadly falls in the construction industry.
| May 15, 2012
Suffolk selected for Rosenwald Elementary modernization project
The 314-student station elementary school will undergo extensive modernization.
