Hurricane Ian Reinforces Need for Healthy Condo Association Reserves

The physical – and financial health – of condominium buildings is top of mind for Floridians following Hurricane Ian’s catastrophic impact on our state. Condo owners in Florida will be thinking about what repairs are needed at their buildings before and after a major storm going forward.

A new Wall Street Journal report details Florida’s major law changes governing condo buildings, such as prohibiting condo associations from waiving the collection of reserve funds to pay for maintenance and repairs. This law takes effect in 2024.

For older coastal buildings, the new law almost certainly will result in owners being hit with significant special assessments. That is not the case at brand-new Coral Gables building Merrick Manor, however. Developer The Astor Companies has gone above and beyond to make sure Merrick Manor is well maintained and fiscally responsible.

Astor is utilizing HOA fees to build a robust reserve and has a hands-on management team to provide maintenance. This approach will help Merrick Manor owners avoid unwanted surprises down the road.

Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.”

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.

For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.