ALL FLORIDA CONDOS TALLER THAN 3 STORIES ARE NOW SUBJECT TO NEW INSPECTION TIMELINES AND RESERVE FUNDING REQUIREMENTS
In response to the catastrophic collapse of the 136-unit Champlain Towers in Surfside Florida that killed 98 people, the Florida legislature unanimously approved Senate Bill 4D on May 26, 2022, establishing the Building Safety Act for Condominium and Cooperative Associations.
The Bill was subsequently signed into law by Governor Ron DeSantis, and became effective immediately. The law serves to impose substantial structural safety obligations and association budget requirements for condominiums. While these laws are intended to promote transparency, enhance safety and prevent future condominium disasters, these new obligations have the potential to create an immediate and long-term burden on Property Managers, Condo Boards, Residents, Developers and Condo Association Budgets.
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