The state of Florida passed a new law last month after the horrific collapse of Champlain Towers South in Surfside, Florida, three years ago. After extensive consultation with lawmakers, Florida has made the following changes in its real estate laws.
Key changes
Most critical changes concerned structural integrity, transparency and full disclosure by condominium board members. Others are as follows:
- Mandatory structural inspections: Inspections every 10 years for structures three stories high and older than 30 years.
- Condominium associations must maintain funds for repairs: Funds for structural repairs must be set aside annually, determined based on studies conducted every 10 years.
- More financial transparency from the board: Condominium associations must now provide detailed CPA-audited financial reports to all unit owners.
The law has also made other changes, allowing the state to investigate abuses and help owners fight corrupt condominium associations.
Other changes
The law also focused on stricter requirements for board members. They are the following:
- Board members must have four hours of education on how to run a condominium association.
- Condominium associations must have a website where their bylaws, budgets and contracts are available for viewing.
- Board members cannot file defamation lawsuits against unit owners to stifle dissent.
- The Florida Department of Business and Professional Regulation (DBPR) will have increased oversight powers to investigate board wrongdoing.
These changes aim to raise the standards for board members and prevent corruption from taking root in condominium associations.
What to do if you see any violations
First, remember to report any law violations to the proper authorities. You can seek legal representation if your report has escalated into a legal dispute with the condominium association. Remember that the law is here to protect your rights and ensure your safety as a unit owner.
