Condominiums

Several bills were filed one day before the Florida Legislature was scheduled to meet, mainly focused on immigration.

The Florida Senate Regulated Industries Committee heard from a panel of experts, including a Tampa-based engineer, on how the recent condo laws are impacting the industry.

DeSantis says lawmakers are partially to blame for the rising cost of insurance and HOA fees.

A law passed in 2022 requires condo associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. As a result, older condos are facing hefty increases to association payments to fund these reserves and repair costs.

Experts called the study a “game changer” that raises a host of questions about development on vulnerable barrier islands.

Conform reform laws passed after the tragic collapse of the Champlain Towers South condo building in Surfside, Florida in 2021 require structural examinations, and for associations to build their reserve funds for maintenance and repairs. Experts discussed the topic on The Florida Roundup.

This week on The Florida Roundup, we talked about the looming deadline for condo owners and associations to meet new regulations that were enacted following the 2021 Surfside condominium collapse among other topics.

Experts and state senators from both parties gathered to tackle rising costs — but warned there is no silver bullet. Senate Democratic Leader Jason Pizzo underlined that owners could shoulder some of the blame for the state of affairs.

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.