Conform reform laws passed after the tragic collapse of the Champlain Towers South condo building in Surfside, Florida in 2021 require structural examinations, and for associations to build their reserve funds for maintenance and repairs. Experts discussed the topic on The Florida Roundup.

A deadline for Florida condominium inspections is quickly approaching.

After the collapse of the Champlain Towers South condo building in Surfside, Florida in 2021, lawmakers passed a series of new regulations for condo buildings. One of those requires most condo buildings to get a visual structural inspection by Dec. 31.

Florida law requires condo associations existing on or before July 1, 2022, to complete a structural integrity reserve study defined by Florida law as “a study of the reserve funds required for future major repairs and replacement of the common elements based on a visual inspection of the common elements,” by Dec. 31, 2024.

It’s separate from a milestone inspection, which is only required for buildings that are three or more stories high and reach 30 years of age.

The deadline for the milestone inspection depends on the age of the condo building, according to the 2024 Florida Statutes. It must be performed by Dec. 31 the year the building is 30 years old, and every 10 years after. If a building is 30 years old before July 1, 2022, the initial inspection is due before Dec. 31, 2024. If a building is 30 years old on or after July 1, 2022, and before Dec. 31, 2024, then it’s due before Dec. 31, 2025.
 

Time is running out

Thousands of Florida's condominiums still need a structural inspection before the end of the year.

Republican Sen. Jennifer Bradley is from north central Florida and a leading lawmaker on condo reforms. She spoke Friday on "The Florida Roundup" about the deadline, telling the show’s host Tom Hudson that the bill does have provisions that could help condominiums comply with Florida law without having the inspection done by the Dec. 31 deadline.

“The bill provides that if you are in contract with an engineer, with an engineering firm to get your milestone and you aren't able to have it completed in time because there aren't enough engineers to be able to do it, or they're really backed up, you can satisfy the requirement by being under contract and making a good faith effort to get it done into next year,” Bradley said.
 

The rising costs for condo owners

The 2021 reforms are being blamed for rising monthly costs for condo owners with condo associations that have historically not saved much for maintenance and repairs because Florida law allowed associations to waive reserves.

Part of the reforms passed in 2021 require condo associations to start saving money to make regular maintenance repairs. If you're a condo owner, that means you'll have to start coughing up extra monthly expenses to help build reserves, if you haven’t already.

Tara Stone, CEO of Stone Building Solutions, a building engineering firm based in St. Petersburg, said what they’re seeing is years, and sometimes decades, of maintenance being neglected, leading to failed inspections and higher costs for condo owners.

“That lack of maintenance isn't because that people don't necessarily want to do the repairs. It's always that there's not the money in the bank to do repairs.”

Stone said condo owner mentality has trended toward concerns about granite in the kitchen or how close they were to the pool, and not the reserves.

Many condo owners are also now seeing exorbitant monthly assessment fees.

Bradey said despite complaints from condo owners, the vast majority of increases over the last several years has been due to rising insurance premiums.

“Insurance premiums for condo associations have doubled since 2022 and these systems exist together. If you are not able to keep your building in good physical health, you're not going to be insurable.”

“The private market saw Surfside collapse. They witnessed the horror with everyone else, insurance companies, and banks, and so if you don't make sure your building is repaired and that you have money available to make those repairs, it will be exceedingly difficult, regardless of what the legislature does, to be insurable or to get loans to make those needed repairs in your building. “

Bradley said, ultimately, these bills will stabilize the condo market.
 

Looking forward

Back in July, Florida House Republican Vicki Lopez told Hudson that she was telling people not to buy a condominium right now in Florida.

When asked whether she agrees with that guidance, Bradley said potential condo owners need to insist on seeing inspection and reserve information before they make a purchase.

“I want to see the milestone inspection. I want to see, I want to look under the hood. I want to see what the reserves are. What does the reserve study show? What will be the financial cost of maintaining that unit going forward? I certainly would ask a lot of questions, and the questions that I would ask are the questions that, quite frankly, should have been being asked in the state of Florida for the last several decades.”

Earlier this month, senators from both parties and experts from various fields gathered to tackle the Florida condo crisis — but warned struggling owners that there is no silver bullet for rising costs and that deadlines are not likely to be extended.

She said condo reforms will more than likely be a topic of discussion during the upcoming 22025 Legislative Session, where “we’ll continue to look at the financing and continue to listen and see where we can maximize the benefit for homeowners who make these repairs to make sure they get credits on their insurance and other things that are driving up costs.”

Stone said it’s more important than ever for people to be involved on the condo association’s board and in their community.

“The board members and the decisions that they're making greatly affect the pocketbooks of every unit owner.”

She said catastrophe like what happened in Surfside is an outlier, but there are a lot of aging buildings of concern.