Tough New FL Condo Laws Getting Pushback
Category: Active adult communities
March 10, 2025 — The 2021 Surfside Towers collapse near Miami killed 98 people and injured many more. The Florida legislature’s response was swift and strict. Now, as those laws go into effect, backlash from the hardships they created is leading to efforts to soften the regs.
Already burdened by exploding insurance premiums, condo owners now also face huge assessments to catch up on their new reserve requirements. Added to those woes, newly required building inspections have discovered costly building repairs that need to be made. All of these combined factors have led to special assessments and/or significant dues increases. The result is a spate of homeowners who are unable to pay. Many have no choice but sell and and then find a new, more affordable place to spend the remainder of their retirement years.
Comments on "Tough New FL Condo Laws Getting Pushback"
Clyde says:
Glad you mentioned that condos under three stories are exempt from the new inspection, repair and reserve funding requirements. That’s because the likelihood of collapse of such a building is virtually nil. Those 2 story or less condos are the ones to look for these days in Florida. They are the best value currently and going forward. We bought our condo (under three stories) in south Palm Beach County 12 years ago after reviewing the finances of the HOA. It was fully funding all reserves and still does. The monthly HOA fee when we bought was $400. It’s now $700. That’s a compounded average annual increase of 4.7%, which seems pretty reasonable for Florida. We have had no additional assessments, mostly due to adherence to fully funding of reserves. But that’s a result of good board management, even in the face of significant insurance increases. There are still many good condo values in Florida because prices are down during the past two years. It just takes diligence in looking for the right one that has had good HOA board management on a continuing basis.
Editor's note: Thanks Clyde for the update. Just a note that the move to exempt buildings under 6 stories is only a proposal. Who knows what will actually get passed, although I think it has a good chance. We will keep you posted. Certainly it will make other states wary of getting too strict in their laws.
Darren E Rivchin says:
I have been in property management for 45 years. Many HOA's are the good ole boys who take bids for golf carts or club memberships. When a community has an HOA and they pay say 600.00 a quarter, they should no where every goes and how it was decided. Example. A recent concrete project forced a special assessment to the community. I had asked to review the bid. I never was sent the docs. After reviewing the work we could have had the work done no assessment and would have put 118k into reserves, this happens every day around the world ! Can you imagine ? Take your HOA sometimes there is 1 2 or 3 , add them up and then multiply say all 3 are 1000.00 dollars and you have 20k homes in your community . That is 20 million a year. Obviously the community does not benefit 20 million a year or 10 million or even 5 million. The money dicipates or vanishes. Here is a great example.go to the website openthebooks.com it shows where the money really goes in illinois. Imagine the billions all you folks give away in FLA. If you pay 1000 in HOA it should be 225.00 if priced fairly. Check that website out. I believe there are attorneys getting ready to gear up on the HOA saga. Here we go!!
Yolande says:
Mmph, mmph, mmph...my Mom told us whatever you do in the dark will come to the light eventually. It's true! I hate HOAs and don't want to live in an HOA run community. I might be forced to if I want to buy. I get what they're for but still don't like them.
edinanmn says:
We have friends who own a condo a 6 story beachfront building. So, I was interested in your comment on exemption from new inspection rules. See below article referencing the proposed bill. It would apply to 5 story buildings, not 6 story.
https://www.tallahassee.com/story/news/politics/2025/03/03/florida-condo-crisis-legislature-bills-lower-fees-ease-requirements/80516308007/
HB 1415/SB 690: Condominium Structural Integrity Reserve Studies
This bill from Sen. Rosalind Osgood, D-Tamarac, takes direct action against the current safety requirements by changing the requirement for the mandatory structural integrity reserve study to only condos that are six stories or higher, rather than the current requirement for condos three stories or higher. Rep. Bruce Antone, D-Orlando, filed a matching bill. Condo associations for condominiums five stories or less may opt out of the inspection and may vote to waive or reduce contributions to the mandated reserve, the major reason behind the surging fees.