The Impact of Florida's 2023 Condo Law Reforms

The 2023 Florida condo law changes (Senate Bill 154 and House Bill 1395) have introduced several significant updates that directly impact condo owners in the state. These updates aim to enhance safety and address various issues within the condominium and cooperative communities.

1. Milestone Inspections: Condo owners must comply with new milestone inspections required for buildings occupied for 30 years or 25 years if within 3 miles of a coastline. These inspections are designed to ensure structural integrity and safety.

2. Reserve Funding: Condo associations are required to maintain adequate reserve funds to cover the cost of future repairs and maintenance. This could increase condo owners' monthly dues or special assessments to meet the new reserve funding requirements.

3. Presale Disclosure Requirements: New presale disclosure requirements and form language are mandated for both new construction and existing projects. This means that condo owners looking to sell their units must provide detailed information about the property's condition, including compliance with the new inspection and reserve requirements.

4. Increased Inspections Flexibility: The law now allows for a "team of professionals" to conduct inspections, addressing the manpower issue faced by associations. Additionally, it permits municipalities to extend inspection deadlines for "good cause" if associations have entered into a contract for the inspection but cannot complete it by the deadline.

5. Notification Requirements: Associations must notify owners by mail, hand delivery, or email (if owners have consented to email notice) within 14 days of receiving notice from the municipality that the milestone inspection must be performed.

6. Waiver or Alternative Use of Reserve Funds: The percentage of members needed to approve a waiver, or alternative use of reserve funds has been increased from a majority of a quorum (owners voting) to a majority of the total membership (all owners).