ST. PETERSBURG — A new, consumer-focused effort is launching in what some call Florida’s troubled condominium market, aiming to give buyers more transparency before they commit to a purchase.

   

Former state senator Jeff Brandes has introduced the Florida Communities Certification Association, or FCCA, a private-sector certification and ratings organization designed to evaluate the financial health of condominium associations. The effort comes as condo owners across Florida face rising costs tied to stricter safety laws passed after the 2021 Surfside building collapse. Those laws require milestone inspections and fully funded reserves for repairs, prompting some associations to levy steep special assessments. Brandes said the FCCA is designed to function like a “Carfax for condos,” reviewing hundreds of pages of documents — including financial records, board meeting minutes, and required state reports — to assign ratings to buildings. “We’re reviewing their financials, their board minutes. We’re reviewing their required reports from the state. We’re really doing a deep dive,” Brandes said. “Honestly, it’s about 600 to 700 pages of information that we’re ingesting, reviewing, and coming up with the ratings with.” Supporters say the goal is to give buyers insight that is often unavailable before closing.

Participation in the FCCA is voluntary. Associations can choose to seek certification as a way to demonstrate transparency, financial discipline, and long-term stability to buyers, residents, insurers, and lenders.

Phil Piser, treasurer of the Bacopa Bay Condominium Association in Pinellas County, said when he purchased his unit six years ago, little financial information was provided.

“There was virtually no financial information provided prior to the buying,” Piser said. “That’s ridiculous.”

Piser’s association is among a dozen taking part in the FCCA pilot program. He said proactive steps, like completing required inspections early, can help distinguish well-managed associations from those struggling to keep up.

The push for transparency predates the new laws. Bill Blazowski, founder of the Alliance for Bayway Communities, said his group has spent more than a decade helping associations share best practices and better understand financial and regulatory requirements.

“We’ve seen it. There have been some extra costs that we’ve all had to bear,” Blazowski said. “Some of it has to do with confusion over what the requirements really are.”

Still, not all associations are equally prepared to meet the new standards.

“And not all associations are having an easy time with that because they’re playing catch-up,” Blazowski said. “But our intention with the FCC is to identify the associations which are already doing a good job, and help the associations that aren’t.”

Brandes said the stakes are high in a state with roughly 27,000 condominium associations and about 1.5 million condo owners.

“These 30-year-old buildings aren’t getting newer. Their challenges are just getting more complex over time,” he said. “That’s why it’s so important, we believe, to have an independent review.”

Participation in the FCCA is voluntary. Associations can choose to seek certification as a way to demonstrate transparency, financial discipline, and long-term stability to buyers, residents, insurers, and lenders.