As 2022 drew to a close, I had no idea how many changes would await me in the next four weeks.
On December 19, 2022, the condo board for the unit that I continue to own in Miami voted to increase the maintenance fee by 31%. I knew that the board’s action would force me to raise my tenant’s rent by at least $250. Unfortunately, I doubted that he could afford this steep increase. This realization finally prompted me to think seriously about selling my unit. Property values had finally rebounded to more than I had paid for the unit, and now seemed to be an ideal time to put it on the market.
Today, I notified my tenant that I was planning to sell the condo. Although he was devastated, he quickly regrouped and spent a week researching whether he might be able to purchase the unit himself. The possibility of a quick and easy sale really got my hopes up.
While I waited for my tenant’s decision, I recalled a promise I had made to myself several years ago. I had joked to Tim that if I ever sold that condo, I would use the money to take us on a world cruise.
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