A judge has passed a petition to help homeowners associations to receive money from those that are renting a condo or going into foreclosure. Before homeowners that were paying on a condo and were facing foreclosure didn’t pay on their association dues whereas now they are going to be expected to. This will not only help others living in the complex but also the homeowner’s association.

There are many condominiums that have been left to fall apart in southern Florida due to lack of funding will now have an opportunity to rebuild itself. Many condominiums are left without water and garbage pick up since they don’t have enough money to pay for the bills. This is largely due to the lack of money they are receiving for the association. Many owners are left to pay more and receive less. The condominiums are close to shutting down since they do not pass the city ordinances and are unable to pay for the up keep of the property.

Some condominium associations in southern Florida are facing bankruptcy. When there is a need for $11,000 to pay for the up keep of the property they seem to be only getting $3,000 from homeowners that are still able to afford their mortgage. With the court getting involved and allowing the association to receive money from those renting the unit from the condo owner or receive rent from the owner that is in foreclosure will help the amount that the association is able to receive each month. This may drive the foreclosing borrowers out of the property or choose to sell quickly. Either way, this may enable the association to receive more money to pay for the up keep of the property.