Saturday, August 10, 2024

Florida Introduces New Regulation For Older Condominium Safety Inspections

The State of Florida has recently introduced a new regulation aimed at ensuring the safety and structural integrity of older condominiums. As per the new rule, condominiums that are over three stories tall and over 30 years old must undergo a first inspection by an architect or engineer by the end of the year.

The inspection is designed to identify any signs of "substantial structural deterioration" that may require repairs. According to the new regulation, if the initial inspection reveals any evidence of structural deterioration, a second, more detailed inspection will be conducted. If no signs of deterioration are found, a new inspection will be required after 10 years, and so on. Condo associations are then required to undertake necessary repairs within a year of receiving a report calling for work to be done.

Failure to do so may result in enforcement intervention... culminating in the building being deemed unsafe for human occupancy. While the new regulation is intended to promote public safety, some stakeholders are expressing concerns about the potential consequences of the strict timeline. Senator Jeff Brandes, a vocal critic of the regulation, warned that the sudden requirement for repairs could lead to unforeseen outcomes.

According to Newsweek... Brandes stated that "it could end up leading to some pretty catastrophic outcomes where people are unable to raise the money to fund their required reserves by state law. They are then forced to try to sell their condo or have a lien placed against their condo. And when this happens at scale, you could have potentially thousands of listings of condos, no buyers or very few buyers, uncertainty around the condos, banks refusing to lend to certain communities because of the reports and the underfunding to address those reports." Senator Brandes believes that there is indeed a need for regulation, "but he emphasizes the importance of a more realistic timeline." Newsweek provides details on the controversy surrounding the regulation, "highlighting the potential consequences of an inflexible implementation." As the debate continues, it --- to be seen how the regulatory framework will evolve and whether the necessary measures will be taken to ensure the safety and integrity of Florida's condominiums.

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Under the new regulation, Florida condos over three stories tall and over 30 years old must undergo a first inspection by an architect or engineer by the end of the year. Should any evidence of "substantial structural deterioration" be found during the first check, a second, deeper inspection should be conducted.
If no sign of deterioration is found, then a new inspection should be done after 10 years, and so on.
Condo associations must begin necessary repairs within a year of receiving a report calling for work to be done, or enforcement might intervene to deem the building unsafe for human occupancy.

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