Important Changes in Florida Condo Laws: What Miami Residents Should Know

Hey there, Miami residents and potential condo buyers! In the wake of the tragic Champlain Towers collapse a couple of years ago on Miami Beach, Florida has implemented crucial changes in its condominium laws. As a Miami realtor, I want to ensure you're informed about these changes.

1. Mandatory Structural Inspections:

 An initial “milestone structural inspection” must be completed for all condo buildings that are 3-stories or higher on their 30th birthday. Subsequently, these inspections need to be repeated every 10 years.  If a structural defect is found during this inspection, the association has to address it and have a second re-inspection done. Condo associations must keep these milestone reports on hand for at least 15 years, and they must be accessible  to any tenants or prospective buyers that request to review them.

2. Reserves Are Required:

In the past, Florida condo associations could vote to waive contributions to the budget reserves, which cover essential maintenance and repairs. However, this rule is changing. The new law requires that ALL condo associations collect reserves to fund major maintenance and repairs, and they must do so by the end of 2024. In addition, all condo associations in Florida must complete a Structural Integrity Reserve Study, performed by a qualified engineer, additionally by the end of 2024 (although this will likely be extended through 2025). What this means is any budget adopted after that date would use that study to fund structural reserves. This study must also be completed every 10 years. 

These modifications aim to prevent unforeseen structural issues and financial pitfalls. So, whether you're a current condo owner or planning to purchase one in Miami, staying informed about these legal changes is essential for a secure and worry-free condo-living experience.