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
| Mar 22, 2012
Bill would reintroduce “opt-out” provision in lead paint law
The Lead Exposure Reduction Amendments Act of 2012 (S2148) would restore the "Opt-Out" provision removed from the Environmental Protection Agency's Lead Renovate, Repair and Painting (LRRP) rule in April 2010.
| Mar 15, 2012
New Florida building code establishes flood and storm surge provisions
The new 2010 code establishes minimum design and construction requirements to protect buildings from wind, rain, floods, and storm surges.
| Mar 15, 2012
Illinois city rejects international code due to home sprinkler requirement
Macomb, Illinois aldermen voted to recommend that the city not adopt 2012 international building and residential code standards requiring the installation of overhead sprinkler systems in newly constructed one-family and two-family homes.
| Mar 15, 2012
Tenant advocates propose licensing landlords in New York City
With thousands of New York City rental units posing potential dangers to tenants, city advocates are proposing measures to make landlords improve building safety.
| Mar 15, 2012
Construction industry a big winner in federal small disadvantaged business procurement
Last year, only 5% of federal contract dollars went to small disadvantaged businesses. Construction and facilities support firms were the biggest beneficiaries.
| Mar 15, 2012
ANSI approves new fall protection standards
The American National Standards Institute (ANSI) has approved two American Society of Safety Engineers' (ASSE) standards addressing fall protection.
| Mar 8, 2012
Engineering innovation provides new option for meeting seismic codes in skyscrapers
Two University of Toronto engineers have developed “viscoelastic-energy-dissipating dampers” to replace many of the heavy concrete beams used in tall structures.
| Mar 8, 2012
CSI webinar on building code compliance March 22
A March 22 webinar will provide an overview of a 28-step process during the design of a building to ensure compliance with building codes.
