Lawmakers in Florida have agreed upon amendments to the condo safety statute, enacted following the Surfside building collapse, thereby modifying the regulation.
Florida Revamps Condo Safety Law Post-Champlain Towers Collapse
In the aftermath of the Champlain Towers South tragedy that claimed 98 lives in Surfside, Florida, lawmakers have passed a new bill aimed at reforming the condo safety law passed in 2022. This bill, titled House Bill 913, seeks to strike a balance between safety and financial burden, particularly on condo residents.
Before the 2022 law, condo associations often kept fees low by neglecting to set aside funds for future repairs. This approach left residents with steep special assessments when repairs became inevitable, straining their budgets, especially retirees and those living on fixed incomes.
HB 913 offers several changes to alleviate these financial pressures while maintaining safety standards. Here are the key provisions:
Extended Deadlines for Structural Integrity Studies
The bill extends the deadline for condo associations to complete structural integrity reserve studies from December 31, 2025, to December 31, 2026. This extension grants associations more time to comply with safety regulations, potentially reducing immediate financial strain.
Enhanced Financial Flexibility
The bill introduces new financial flexibilities for condo associations. They can now fund their reserve accounts through loans or lines of credit, providing more options to meet financial obligations. Additionally, in cases of urgent repairs, associations are permitted to pause reserve contributions for up to two years following a milestone inspection. This provision allows for immediate action without compromising long-term financial planning.
Milestone Inspections and Structural Integrity Reserve Studies
These evaluations are mandatory for condos that are 30 years or older and three stories high. Although the bill offers some flexibility in funding these inspections, it maintains the requirement for regular safety evaluations.
The bill now heads to Governor Ron DeSantis' desk. Its objective remains to prevent excessive assessments that could lead to forced sales due to unaffordable costs.
Kate Payne, a corps member for Our Website/Report for America Statehouse News Initiative, who is part of a national service program placing journalists in local newsrooms to cover underreported issues, worked on this story. Report for America is a nonprofit organization dedicated to bolstering local journalism.
- The media has been covering the news about Florida's revision of condo safety laws, which was prompted by the Champlain Towers collapse, extensively.
- The new bill, House Bill 913, or HB 913, not only focuses on condo safety but also addresses the financial burden on residents.
- In the realm of finance, HB 913 introduces flexibility for condo associations to fund their reserve accounts, allowing for the use of loans and lines of credit.
- As part of the policy-and-legislation changes, condo associations will be required to conduct milestone inspections and structural integrity reserve studies for buildings that are 30 years old or more, reflecting a commitment to general news about safety and regulation.
