It’s Official! Changes to Required Condo Studies Start July 1.

As legislators gathered in Tallahassee for the annual legislative session, The Orlando Law Group has been closely following HB 913, something all condominium owners and condo associations should pay close attention to.

You can see the progress of the bill from when we first discussed proposed changes to Florida Condominium law in April, and then again in early June, when the bill passed both houses in Tallahassee.

Now the bill is official as Governor Ron DeSantis has signed it into law, meaning the entire act will be enforceable on July 1.

Perhaps the biggest thing being talked about is that there is some relief for Florida condominium associations struggling to pay for the repairs and reserves needed after the results of milestone inspections and structural integrity reserve studies.

While there are new options to help cover those costs, primarily by allowing a line of credit instead of just cash, the reality is that for most condominiums in Florida, the deadline to have those done was just extended a year.

Condominium associations throughout the state that have three or more habitable stories are still responsible for having milestone inspections and structural integrity reserves by the end of 2025, instead of 2024.

It is still a major financial burden for condominium owners and a requirement for condos across the state.

The attorneys at The Orlando Law Group can help Orlando condominium associations and any Florida condominium associations with any changes that might come, ensuring your association remains in compliance with any new state statutes enacted this year.

New Ways to Pay for Repairs and Reserves

After the Surfside Condominium collapse, lawmakers wanted to ensure Florida’s condominiums were safe for residents. Many of the state’s high rises were built decades ago and the Surfside tragedy showed that structural issues developed over the years could cause a significant loss of life.

The goal was to ensure the condos were safe by inspecting nearly all condos in Florida with what was called a milestone inspection. Along with that, a structural integrity reserve study was required to make sure the funds to repair the buildings are available.

Unfortunately, the result was that many, many condominiums in Florida were faced with millions of dollars required to be set aside or used for repairs. With many condominiums owned by retirees on fixed incomes or used as rental properties, owners struggled to pay assessments.

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