On May 25, 2022, the Florida Legislature unanimously passed a condo reform bill. The new legislation comes nearly a year after the devastating Surfside condominium collapse.
The proposed legislation was filed during a special legislative session to address Florida’s property insurance crisis.
The new legislation imposes a statewide structural inspection program for aging condominium buildings. Condo buildings three stories or more in height must now undergo milestone inspections upon reaching 30 years of age, and every 10 years thereafter. If the building is located within 3 miles of a coastline, the milestone inspection is required upon reaching 25 years of age, and every 10 years thereafter.
The milestone inspection must be performed by a licensed architect or engineer authorized in Florida for the purposes of attesting to the life safety and adequacy of the building’s structural components, and to determine whether maintenance, repair, or replacement of any structural components are necessary. The association must distribute a copy of the milestone inspection report to each unit owner.
Additionally, the new law requires condo associations to perform a “structural integrity reserve study” every 10 years for each building on the condominium property that is three stories or higher in height. The study shall focus on items relating to the structural integrity and safety of the building, including, but not limited to, the roof, load bearing walls, floor, foundation, waterproofing, fireproofing, plumbing, and electrical systems.
The failure of an association to comply with the milestone inspection or structural reserve study requirements is an explicitly deemed a breach of fiduciary duty.
Moreover, effective December 31, 2024, condo association members will not be able to waive reserves or provide for less reserves than statutorily required for those items listed in the structural integrity reserve study. Members may also not vote to use reserve funds that are reserved for such items for any other purpose other than their intended purpose.
Lawmakers presented the condo reform bill to Governor Ron DeSantis, who is expected to approve and sign the bill into law.
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