07/28/2022
New CONDO safety laws going into effect 2025 (post-Surfside tragedy):
* At 30 years old, buildings three stories and higher must be inspected. Thereafter, inspections must be conducted every 10 years. If built before July 1, 1992, the first structural inspection must be performed before Dec. 31, 2024.
* Buildings less than three miles from the coast must be inspected at the 25-year mark and again every 10 years.
* Inspection reports must identify significant structural deterioration, whether it’s dangerous or unsafe, and whether it should be repaired. Copies of reports must be distributed to all condo unit owners.
* Condo boards must conduct reserve studies every 10 years to determine how much money owners must be assessed to cover future repairs. The studies are planning tools that analyze the health of an association’s finances and physical property as it prepares for major repairs and replacement projects.
* Boards are barred from waiving the reserve requirement or using reserve money for other purposes.
(SOURCE: Florida Realtors)
