What happens when a condominium unit is hit with so may foreclosures, that the home owners association starts to run out of money? Checks bounce to the water department and the department, in turn, shuts off the water.
“The cash crisis plaguing South Florida’s foreclosure-wracked condominiums reached an apex Wednesday for the Mirassou Condominium in Northwest Miami-Dade after county government shut off the water to residents because the association failed to pay its water bill.
Miami-Dade Water and Sewer Department said it turned off the water supply to the 310-unit building after the association failed to abide by three separate repayment plans over the last seven months.
The association has an outstanding balance of $124,581.04, the department said.”
Of course, if Florida law permitted individual unit owners to have their own water bills, this would be a different story. Maybe the legislature will react. Probably not.