ORANGE COUNTY, Fla. - 9 Investigates uncovered a potential plan to turn around one of Central Florida’s condominium complexes, days after residents there faced the threat of having their water shut off again.
The homeowners association manager for Section 2 inside Tymberskan said she’s been in contact with a company that’s been working in the Lemontree Condos, a complex next door to Tymberskan.
At Lemontree, investors have focused on HOA-owned units that are either vacant or full of squatters.
Once renovated, the association can collect dues through monthly rent.
“A lot of times, it’s money not coming in, and in this case, that’s what we had--empty units not generating income,” Patrick Carr, of Ironoak, said.
9 Investigates scoured property records and found that 83 units inside Tymberskan are association-owned, having likely been seized through foreclosures due to unpaid HOA dues.
That’s more than a third of the entire complex not generating any fees for the associations that own them.
The HOA manager for Sections 1 and 3 at Tymberskan told Channel 9 earlier this month he wants to redevelop the property, as well.
At least one other investor has reached out to county leaders to determine how many fines and liens there are on the complex, in order to calculate fair market value for the community.
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