Florida passed the statewide Condominium Safety Bill in Wake of the Surfside Building Collapse back in June of 2021. This is a major, positive change moving forward in the safety of the condominiums.
What does this bill entail?
- Recertification is now required after 30 years, or 25 years if the building is within 3 miles (5 kilometers) of the coast, and every 10 years thereafter.
- Condominium associations would be required to maintain sufficient reserves to cover major repairs, and to conduct a study of the reserves every 10 years. Inspection reports would be provided to owners by the condominium association, and if structural repairs are required, owners would be notified and work must start within a year of the report given.
- If the building’s certificate of occupancy was issued on or before July 1, 1992, the building’s initial milestone inspection must be performed before December 31, 2024.
The structural integrity reserve study at a minimum, must include:
- Roof.
- Load-bearing walls or other primary structural members.
- Floor.
- Foundation.
- Fireproofing and fire protection systems.
- Plumbing.
- Electrical systems.
- Waterproofing and exterior painting.
- Windows.
- Any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000 and the failure to replace or maintain such item negatively affects the items listed in subparagraphs a.-i., as determined by the licensed engineer or architect performing the visual inspection portion of the structural integrity reserve study.
Looking ahead:
The State of Florida Property Management Association (sfpma.com) and the many members are offering their services. On our members directory Condo & HOA’s all over the state can find the top rated companies to handle their buildings inspections, engineering, fire safety inspections, roofers, painting and waterproofing, plumbers and electricians for all of your Building Maintenance repairs.
On top of these are the Law Firms, that help with making sure your buildings are legaly ready for the changes.
We understand with all of these changes each condo and hoa will need help with funding the reserves into the future, so we did not forget this: Our industry members include the top financial companies, ie: Banks and Loan companies ready to help wth your investments. Act now start saving and growing your reserves, at times you will also need to get your accounting and bookkeeping with the added help from our collections members to make sure you cn get the funding to perform the many needed repairs.
Largest Florida Directory of Companies working with Property Management, Condo and HOA properties.
If you are not listed become a member today!
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