New Laws for Condominiums - FL
In efforts to keep everyone up to date in the most recent changes to condominium laws, please read below some of the changes that will be taking place in the near future.
- A new bill requires that condos would have to be recertified after 30 years if they are three stories or higher or are 25 years old and within three miles of the coast. Every 10 years after that, they must be recertified again.
- Under the proposal, condominium associations would be required to conduct reserve studies every decade to make sure they have the resources to finance needed structural improvements.
Florida bill would require condo owners to conduct inspections, save for repairs (tampabay.com)
- Nearly a year after the catastrophic collapse of Champlain Towers South in Surfside, Florida lawmakers on Wednesday gave final approval to legislation that will require condominium association boards to set aside money in reserves to cover future repairs starting in 2025. Current law allows them to waive the requirement.
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