FLORIDA – Condo owners face financial losses under receivers’ watch
Article Courtesy of The Miami Herald
By Enrique Flor and Brenda Medina
Published March 24, 2016
Rodolfo Rodríguez believed he had made a good investment for his retirement when he bought a condo in Miami at a bargain price after the real estate crisis.
The 74-year-old taxi driver fixed up the apartment he bought for $20,000 in August 2011 and rented it to a family for $800 a month.
During the 18 months that Caridad Alina Ortega, the receiver appointed by Judge José Rodríguez, was in charge of Tropical Point, some of the owners paid thousands of dollars for maintenance and their debts, as well as special assessments. But conditions never improved, according to the testimony of several residents of the complex, which also faced a lien by the city of Miami. The electricity and water bills were not paid, and elevators and fire alarm and sprinklers were not repaired.
Barely one month after her appointment, Ortega put a lien on Rodríguez’s unit for allegedly falling behind on payments of a special assessment to repair the elevator and fix up his apartment. The bill totaled $3,754, including late fees.
Rodríguez said he had just finished paying about $500 on his debt for maintenance fees, and had no more money. Read more: