Long Beach Condominium

In the time I've spent selling condos, I have become very familiar with the budgets of most condominium associations in Panama City Beach. Generally, the association fees for these beachfront properties are what you would expect. However, some buildings have budgets that exceed reasonable expectations. This is often due to unanticipated building maintenance, which is the case at Long Beach. You will also see instances of associations falling behind on reserves due to unexpected expenses. In rare instances, overcharges by management can cause the dues to increase.

In this article, I will clarify what has been occurring at Long Beach and why the association fees for this property are unexpectedly high. You will find that the large restoration project needed for the condos and the loan that was required to pay the expenses are the reasons behind the high association fees. The increase is not necessarily a scary issue. In this article, I will crunch the numbers to show an easy way to value a condo with higher than expected association dues.

Located on 1,300 feet of the world's most beautiful beaches, you will find Long Beach Resort. With four 14 story towers, each living room, bedroom, and dining room overlooks the white sand beaches of the Gulf of Mexico. In true resort style, you will find multiple pools and whirlpools along with a poolside snack bar. At the end of the day, you can relax on your own private balcony while enjoying the tranquil breezes and gorgeous sunsets. With all of the fine finishes and amenities, Long Beach Resort is the perfect home away from home.

Condo owners in Panama City Beach are confronting a formidable challenge, wrestling with a steep increase in association dues primarily driven by escalating condominium association insurance costs and the need for structural reserve inspections. These insurance rate hikes coincide with private condominium association insurance carriers discontinuing coverage within the state of Florida.