,
10 tweets,
4 min read
Read on Twitter
If you’ve ever rented or bought a condo in South Florida, chances are you’ve had to pay an application fee. If you paid over $100, you were ripped off. (THREAD) hrld.us/2M0tpIk
Condo associations can charge people applying to buy or rent a unit a max of $100 per person under The Florida Condominium Act. But a 2016 @MiamiHerald analysis found many buildings were gouging tenants and buyers with fees anywhere from $125 to $625. hrld.us/2LW5SIL
In a region that has become one of the least affordable places to buy or rent in the U.S., the illegal application fees are just ‘more salt in the wound’ — and potentially discriminatory. #PricedOutofParadise hrld.us/2XfblOs
“High application fees are potentially discriminatory by crowding out low-income and low-middle-income renters who can’t afford to put down $300 fees. … It’s a huge foot on the scale,” said Ali Bustamante, an FIU professor.
At the time of the analysis, lawyers warned that the high fees would lead to class-action lawsuits against condo associations and property management companies. Well, that’s exactly what happened. hrld.us/2LSkXLi
Now, one Brickell condo association will have to pay up to $300,000 to settle a class-action lawsuit filed by a married couple.
The association at The Plaza in Brickell required residents to cough up a $150 screening/application fee and a $200 move-in/move-out fee — $250 more than what state law allows.
The settlement could set a precedent that threatens companies and associations charging fees higher than $100 per person, said Jason Kellogg, a Miami attorney who specializes in condo law. hrld.us/2M0tpIk 
“This settlement is a pretty good result, and that might encourage more people who have paid these transfer fees to contact lawyers, and for lawyers to have a baseline value for these claims.”
For the latest news on South Florida’s real estate scene, sign up for Re|source Miami, our free daily email newsletter: hrld.us/2MIJ6Gb
