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Stay Updated: Florida Condo Safety Law

 

 

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Tragedy

After the tragic condominium collapse in Surfside, FL, the Florida Condo Safety Law was passed to place more strict inspections and maintenance requirements on condominium and co-op associations. What condo owners & prospective buyers should know:


Under this law, all Florida condominium and co-op associations within certain parameters are required to undergo Structural Integrity Studies.


These studies are inspections conducted by licensed engineers and architects to identify necessary upgrades or repairs.


These inspections include major safety & structural requirements that have not been inspected in the past.


Affected associations will be required to collect full reserves based on these inspections starting in January 2025.


These changes are expected to place a financial burden on condo owners, who will be responsible for costly renovations to bring their buildings up to code.

Reform

The latest update to Florida's condo safety law is the recently signed Surfside Glitch Bill, SB 154. Key changes include:


Building inspection reforms such as clarifying building height questions, the Florida Building Code, and excluding insurance premiums from budget calculations.


Milestone inspections led by professional teams, new deadlines based on building age, and provisions for saltwater proximity have also been introduced.


In the realm of reserves, approval requirements for waivers have increased, and Line of Credit use is now limited to larger associations.


Other adjustments involve reserve funding, inflation factors, and clarifications on responsibilities.

 

These crucial revisions demand a thorough understanding and commitment to compliance. Your community's safety is our priority. Reach out to us to learn how your condo or upcoming purchase can be affected.