Condominiums

New rules for condo associations in Florida are likely taking their toll on sales statewide as median prices fall.

South Florida condo owners already spend a lot on monthly fees but very little of the money goes into reserves. More money will have to be funneled into savings beginning next year.

During a roundtable discussion on the issue Thursday, the governor spoke with Florida condo owners.

Lopez said there isn’t enough data to have a special session on condos before the end of 2024.

This week on The Florida Roundup, we discussed possible tweaks to new condo reform laws, the growing need for EV fast charging stations across the state, recent claims on Florida’s abortion ballot initiative, the growing number of incarceration deaths and an update on activity in the Atlantic.

He said "we do need to do something this year" to help with increased costs for repairs and property insurance. The 2025 regular legislative session begins in March.

Last month, Gov. Ron DeSantis said it was up to the Legislature to address significant increases in assessments that residents face on top of homeowners association fees.

Nationwide, as in Florida, buyers have been backing out of home purchases at a record rate, recent figures show. About one out of every six contracts to buy a home in Miami-Dade County has been canceled so far this year.

Three years after the collapse of a condo building in Florida, developers say a court decision may stop them from demolishing and replacing older residential buildings.

Since the collapse, the state has enacted reforms to make condo buildings safer. But Rep. Vicki Lopez said people looking to buy a condo should probably hold off for a while.

This week on The Florida Roundup, we discussed Gov. DeSantis’ State of the State address, Florida’s plan to import prescription drugs from Canada, condo reforms and the new chairman of the Florida Republican Party. Plus, an update on winter storms and recent education news. Finally, we ask: is it “Sani-belle” or “San-a-bull”?

The Florida Building Commission says there is no reason they see to treat coastal and inland buildings differently. That was a key idea behind the post-Surfside law that passed in 2022.