Following the tragic Champlain Towers South condo collapse in 2021, Florida lawmakers implemented new regulations aimed at preventing similar disasters. These regulations require condo associations to maintain sufficient reserves for repairs, conduct regular inspections, and file detailed reports on the building's structural integrity.
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Federal investigators determining why the Florida condominium tower partially collapsed three years ago, killing 98 people, said Thursday, March 7, 2024, that there were many faulty support columns in the tenant garage that ran below it and the adjoining pool deck. (AP Photo/Lynne Sladky, File)It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. Because of the law, older condos — found largely in South Florida, according to state records — are facing hefty increases to association payments to fund the reserves and repair costs.in Surfside in June 2021. New regulations require condo associations for buildings with three or more stories to file an inspection report focused on structure, maintenance and expected costs for repairs or renovations by Dec. 31.. A May report from the Florida Office of Insurance Regulation noted that the average homeowner’s insurance premium is approximately $3,600, about $1,000 more than the national average, according to the National Association of Realtors. In Hallandale Beach, condo owner Kelli Roiter sympathizes with people having trouble paying the higher fees, but she said she supports rules requiring associations to maintain reserves for repairs if it means her oceanfront building — built in 1971 — gets the repairs it needs. She said her building, a few miles from Champlain Towers South, is showing some of the same problems that were visible before that building collapsed. “I’m concerned that this building will collapse,” Roiter sai
CONDO COLLAPSE FLORIDA SAFETY REGULATIONS BUILDING MAINTENANCE Reserves
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