Florida's real estate landscape often attracts attention due to its vibrant condo market, but with that spotlight comes important considerations for condo owners. Association fees are a key topic of discussion—sometimes a source of financial strain or legal contention. In a recent Realtor.com article, our very own attorney partner, James Gonzalez, lent his expertise to shed light on this critical issue.
In the wake of the tragic Champlain Towers South condo collapse in Surfside, Florida, Senate Bill 4D was signed into law to strengthen safety standards for condominiums. This legislation aims to protect residents by ensuring that aging buildings are properly inspected and maintained.
Here's what you need to know:
- Mandatory Inspections for Aging Condos
Under SB 4D, condominium buildings that are three stories or higher and 30 years old (or 25 years depending on proximity of the buildings to areas such as coastlines) must undergo a structural milestone inspection. After the initial inspection, these buildings must be reinspected every 10 years. The inspections assess the overall structural condition of the building to identify any necessary repairs or safety concerns.
- Reserve Funding for Repairs
A key provision of the law is the requirement for condo associations to maintain fully funded reserves for structural repairs. Beginning with budgets passed in 2025, associations cannot waive these reserves or use the structural reserving funding for non-structural purposes, ensuring there is enough money to address critical structural repairs without delay. This change is significant because it shifts the financial responsibility to condo owners and associations to proactively fund structural maintenance and repairs.
- Impact on Buyers and Sellers
Buyers, mortgage lenders and title companies will now inquire about inspection reports, reserve funding, and the status of potential assessments for repairs. Sellers, on the other hand, may not be able to convey clear title to their units if their buildings are not compliant with these new Florida law due to having unmet inspection requirements or underfunded reserves.
How Cobb Gonzalez Can Help
At Cobb Gonzalez, we specialize in condominium law, offering guidance and advocacy for condo owners and associations alike. Whether it's clarifying fee obligations, resolving disputes, or navigating compliance with Florida laws, our team is here to help.
We understand the delicate balance between maintaining thriving communities and protecting individual owners' rights. With extensive experience in real estate and construction litigation, we're equipped to provide practical solutions tailored to each unique case.
Why This Matters
The Realtor.com feature underscores how integral legal expertise is to understanding and navigating the complexities of association fees. It's not just about managing the financial aspects—it's about creating harmonious communities and protecting the investments of condo owners.
To read the full Realtor.com article and gain further insights from James Gonzalez, click here.
Need Help? Let's Talk!
If you're a Florida condo owner facing challenges with association fees or other legal matters, don't hesitate to reach out to the team at Cobb Gonzalez. We're passionate about helping our clients navigate complex legal landscapes with confidence and clarity.
Originally published January 3, 2025
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
