They're about to get hit with all kinds of financial issues': Concerns about rising condo fees

It's Lenny. Sue Paul joins us now live in Tampa with the story. Lenny. Good evening, Jen and Josh. Well, many say that they were pleased to see their insurance premium cool off over the last year. But after the recent storms, they're worried they could see that steep increase once again. They're about to get hit with all kinds of financial issues. New state laws changing the landscape of condo ownership and drawing hundreds to the Tampa Convention Center Thursday. We got insurance that they're dealing with. We have mandatory reserves. Now we have mandatory inspections. We have mandatory repairs. Eric Glazer is an attorney specializing in condo law leading today's discussion. The end of year deadline for mandatory inspections is looming. All of this. In addition to the insurance, everything's coming together exactly at the same time. So for condominium owners, it's a perfect storm. Condo fees are going up. Joe Todd is the president of his condo Association in Tampa, managing the soaring cost of insurance. A challenge. I get a call from my insurance guy saying the premiums came in at $320,000 more than your budget. Um, Merry Christmas. And I immediately checked into the emergency room. I had my first and only migraine. Some people are, you know, scrambling with special assessments. Many condo owners facing hefty special assessment fees after new laws following the deadly Surfside condo collapse three years ago. The law requires condo reserves to be fully funded for potential structural repairs. Now there's more worry about what costs will look like after recent storms for those condos who unfortunately for them has have waived reserves for years, if not decades and didn't take good care of their building, they're in big trouble. Meanwhile, florida's chief financial officer, Jimmy Patronus says that there were several lessons learned after Hurricane Ian and that the market is stable enough to handle claims from recent storms reporting live in Tampa. Lenny Soup Hall eight on your side.