Condo: Condo safety Senate Bill 4-D

Dated: June 3 2022

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Senate Bill 4-D became law June 2, 2022 and takes effect in 2025. There are two parts to it.

A. Milestone Structural Inspections

Recertification will be required after 30 years, or 25 years if the building is within 3 miles (5 kilometers) of the coast, and every 10 years thereafter. 

B. Structural Integrity Reserve Study and Reserve Funding Requirements

If an Association is older than thirty (30) years old (e.g. the building’s certificate of occupancy was issued on or before July 1, 1992), the Association must conduct a Milestone Structural Inspection of the buildings within its community before December 31, 2024.

Elimination of the possibility of condo associations waiving requirements to keep adequate financial reserves to pay for repairs. That new rule begins in 2025.

Require condominium associations have sufficient reserves to pay for major repairs and conduct a study of the reserves every decade. 

Require condominium associations to provide inspection reports to owners, and if structural repairs are needed, work must begin within a year of the report.

An Association must have a Structural Integrity Reserve Study completed every ten (10) years, with the initial Structural Integrity Reserve Study by December 31, 2024. As of December 31, 2024, an Association may no longer refuse to fund (may not waive) or underfund the reserves for items required to be included in a Structural Integrity Reserve Study. Furthermore, as of December 31, 2024, for items required to be included in a Structural Integrity Reserve Study, an Association may no longer use those itemized reserve funds (or any interest accruing thereon) for other purposes, and an Association may only use those itemized reserve funds for their designated purposes.

Each Association must provide certain information about its buildings to the Division of Florida Condominiums, Timeshares, and Mobile Homes on or before January 1, 2023. 

There are more than 1.5 million condominium units in Florida operated by nearly 28,000 associations, according to a legislative analysis conducted earlier this year, Of those, more than 912,000 are older than 30 years and are the home to more than 2 million residents.

https://www.natlawreview.com/article/governor-desantis-signs-senate-bill-establishing-building-safety-act-condominium-and

https://www.ralaw.com/storage/pHJTk9ccKNE4XjaL2jZgIeouTxTcoyKRgodajM8j.pdf

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