7 Hrs
Source:
Los Angeles Times
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California condo fees climb but threaten owners
Residents of a San Clemente condominium complex faced a $26,000 emergency assessment to replace aging roofs, highlighting a growing issue across California where aging buildings, rising insurance costs, and safety regulations lead to unexpectedly high fees. Some homeowners are attempting to recall their HOA board to oppose the assessment, which was deemed necessary due to structural deterioration and potential damage from upcoming storms. Experts note that such large fees are becoming more common as condo infrastructure ages and maintenance costs escalate, often forcing residents into financial hardship.
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