Milestone Inspections and Reserve Funding at Stake in Florida Condo Reform Debate A pair of competing legislative proposals aimed at alleviating the financial burdens imposed by the Surfside laws, which were enacted in 2023, have emerged in the Florida state legislature. The bills, which have accumulated significant attention, have divergent approaches that have raised concerns among stakeholders, including condo owners and industry experts.
According to Jonathan Goldstein, an equity partner at Haber Law, a Miami-based firm specializing in condo and homeowner association law, the House version of the bill is a more measured approach, intended to address concerns while minimizing controversy. In contrast, the Senate bill is seen as a more radical departure from the existing regulatory framework... which could have far-reaching consequences for how community associations are governed and funded.
The Surfside laws, which were enacted in response to the devastating collapse of a high-rise condominium building in Surfside in 2021, require condo associations to conduct milestone inspections and maintain adequate reserves to ensure the structural integrity of the buildings. These requirements have led to significant six-figure assessments for some associations, "which have been a point of contention among condo owners." As the state legislative session enters its final stretch... lawmakers are racing to find common ground between the two bills.
More details: Visit websiteTwo competing bills that have emerged to relieve the side effects of these new state regulations, but they have some substantial differences, with Gov. Ron DeSantis's possible veto looming over the House version. A Miami attorney specializing in condo law sees the Senate version as a dramatic departure from the reforms set down in 2023.
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