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SFPMA Industry Articles | news, legal updates, events & education! 

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Drones capture thousands of high-quality photos as they move in and around buildings at different altitudes.

Drones capture thousands of high-quality photos as they move in and around buildings at different altitudes.

Drones capture thousands of high-quality photos as they move in and around buildings at different altitudes.

 
Performing drone inspections on a consistent basis allows property managers to observe time-dependent changes such as concrete deterioration, roof wear and tear, and hurricane damage.
 
At SRI, our FAA-certified pilots perform drone surveys of residential and commercial properties throughout South Florida.
 
Learn more about our drone services @ https://ow.ly/Qy6u50QWZNw
 
 

DRONE SURVEYS

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Drones take many videos and high-quality photos as they move in and around buildings at different altitudes. In a single mission, hundreds of data points can be captured for later use. That data provides a historical record to aid in insurance claims, maintenance and future renovations. At SRI, our FAA-certified pilots perform drone surveys of residential and commercial properties throughout South Florida. We use Catalogger image management software to easily store, search and access image and video data.

FAA-Certified Drone Pilots

All of our pilots have passed the FAA’s Small UAS Rule (Part 107) examination and maintain their flying credentials by passing recurrent examinations every two years.

Image Management with Catalogger
 
With a simple interface, Catalogger allows users to quickly access and share drone survey photos to guide maintenance, repair, and improvement projects. Image data is stored on the cloud and can be viewed on multiple devices via a password-protected portal.
Mission Planning With Recorded GPS Coordinates

Allows for repeated flights along the same path. Missions can be scheduled periodically to observe time-dependent changes such as concrete deterioration, roof wear and tear, hurricane damage, and modifications to surrounding structures.

Catalogger image management system logo
 
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Maximizing the value and life cycle of a building requires continuously maintaining performance and improving energy efficiency Learn how Rimkus can help with your Building Inspections & Repair.

Maximizing the value and life cycle of a building requires continuously maintaining performance and improving energy efficiency Learn how Rimkus can help with your Building Inspections & Repair.

Building Envelope Services

Maximizing the value and life cycle of a building requires continuously maintaining performance and improving energy efficiency Learn how Rimkus can help with your Building Inspections & Repair.

From the design of new buildings to the construction materials and technologies used to repair and maintain existing structures, we are uniquely qualified to provide a full range of global building envelope consulting services to help prevent and eliminate problems.

Performance for the Life Cycle of Your Project

Committed to utilizing sustainable materials and methods as applicable, we proactively address performance issues to improve the way buildings are constructed and maintained.

 

View our building envelope services:

  • Building Envelope Assessments
  • Façade Inspections
  • Façade Restoration
  • Historic Preservation
  • Pavement Engineering
  • Roof Consulting
  • Waterproofing and Weatherproofing Assessments and Design

 

Building Envelope Assessments

The Rimkus Built Environment Solutions team can provide a complete assessment of a structure’s building envelope (façades, roofs, windows, balconies, walkways, parking areas, etc.) describing the condition of such and all items in need of repair. A recommended timeline and a projected construction cost will also be provided to assist the owner in projecting future budgets. For a full survey of all building components, Rimkus can increase the scope of the survey and provide a full Property Condition Assessment (PCA) including mechanical, electrical and plumbing systems, elevators, and interiors. Building envelope assessments and PCAs are typically provided with 5- or 10-year projections; however, they may be customized to the client’s needs. These reports can be utilized as a tool to help create capital expenditure budgets and establish maintenance schedules.
 

Contract Administration

Retaining Rimkus to handle your Contract Administration services on your roof construction projects will provide you with seasoned professionals who know how to control costs and long term outcomes. You will experience greatly improved transparency and accountability from your contractors and you will also be far more likely to maintain critical schedules, budgets, and deadlines on your projects. Rimkus achieves these benefits by maintaining a free flow of information between the Contractor and Owner. Our services also include payment certification and preparation of change orders for any additional work that may be encountered during the course of the project. We strive to protect our clients by confirming that the solutions you invest in meet all of your roofing and building portfolio needs. At Rimkus, you will find a level of personal attention on every project that is unmatched by any of our competitors. Trust in our veteran team, state-of-the-art technology, and our decades of experience in the industry. We offer:

  • Contract Administration
  • Schedule, budget, and deadline maintenance
  • Minimization of building occupant disruptions
  • Payment certification
  • Preparation of change orders
  • Review of shop drawings / material submissions

 

Diagnostic Testing

To properly assess the condition of your roof we need to determine its composition, quality, and moisture content. At Rimkus, we can accurately assess each of those factors with our Destructive and Non-Destructive Testing protocols. It is one of the steps taken during your Roof Condition Analysis and a necessary tool in projecting the life expectancy and long-term costs of your roof. We can also use the results to save you money by identifying problems before they become catastrophic. We strive to protect our clients by confirming that the solutions you invest in meet all of your roofing and building portfolio needs. At Rimkus, you will find a level of personal attention on every project that is unmatched by any of our competitors. You can place your trust in our veteran team, state-of-the-art technology, and our decades of experience in the industry.
We offer a variety of diagnostic testing methods:

  • Infrared thermography
  • Tramex moisture meter
  • Electrical Field Vector Mapping (EFVM)
  • Core cut testing
  • Delmhorst Probe

 

Façade Inspections

When façade elements fail, components could fall, thereby putting people and property at risk. As a response to this, many cities have passed façade ordinances to identify unsafe conditions, such as loose façade components or materials that may fall and cause damage to property or injury to pedestrians. At Rimkus, we provide professional building inspections supported by recommendations and design for proactive maintenance and repair programs. Façade inspections typically fall into one of the following categories:

  • Safe: Requires no attention
  • Safe with a Repair and Maintenance Program: Requires repairs or maintenance within a time period designated by the professional in order to prevent deterioration into an unsafe condition
  • Unsafe: Has no reliable means of structural support and is dangerous to persons or property. Requires prompt remedial action.

Conducting Inspections Inspection requirements range from visual inspection of street-facing façades by architects, engineers, or contractors, to “hands-on inspections” that require licensed engineers or architects to physically touch façade components for each elevation of the building along the entire height of each elevation. Typically, inspections are required for buildings over five stories, with inspection frequencies ranging from two to five years. Our experts are well versed in façade condition assessments and have the experience and knowledge needed to identify repair details as well as oversee the completion of the repairs on behalf of the property owner.

 

Façade Restoration

The appurtenances of a façade (balconies, fire escapes, etc.) often deteriorate faster than the façade itself and therefore require particular attention and, often, increased maintenance. Repairs to these elements should be addressed in a manner that will prolong the useful life of the appurtenance as well as the repairs performed. The Rimkus Building Envelope team can assist in all phases of façade restoration. We are well versed in façade restoration, with a long track record of success on projects varying from low-rise commercial and residential buildings to luxury high-rise towers. The façade, while best known for its aesthetic, also provides structural support for a building and vertical weatherproofing for its interior spaces. All three of these components should be analyzed during façade restoration. Performing a thorough analysis of the building’s façade prior to design, Rimkus provides a detailed list of findings and recommendations for immediate repairs as well as preventative maintenance to completely address façade functions. At Rimkus, we believe that the key to a successful façade restoration project often occurs before the contractor arrives on-site. A thorough and detailed pre-construction effort, including preliminary investigation, preparation of contract documents, bid process and review, pre-construction meeting(s), and review of all mock-ups and submittals, will often eliminate unnecessary costs and construction delays.
 
 

Historic Preservation

Rimkus has had the distinct pleasure of working on numerous historic and landmark structures, including both high-rise and low-rise office buildings as well as a number of ornate residential buildings. Exhaustive research, early coordination with all governing agencies, and involvement of qualified experienced professionals are all essential components in the preservation of these delicate historic structures. When analyzing and repairing the building envelope of historic structures a conservationist perspective is preferable, full-scale repair or replacement is not always best. Thorough documentation of existing conditions including sketches, photographs, and cataloging of deteriorated elements is imperative to the restoration process. The use of new technologies to eliminate unnecessary probes and demolition is advisable. By incorporating the use of laser scanning, Rimkus can achieve an unprecedented level of detail and accuracy during the design phase often without the need for hands-on visual inspections. In addition to providing thorough contract documents; these laser scans will allow for the creation of 3D models of decorative stone units for shop drawings and mold casting.
 
 

Leak Investigations

Rimkus offers a thorough approach to leak investigations, recognizing that a successful investigation requires pursuing all possible sources of water infiltration. With years of experience, Rimkus understands that there may be multiple factors contributing to a leak. Rimkus offers a range of services to assist in determining the source(s) of water infiltration, including hands-on and visual inspections, non-destructive testing techniques, and more traditional methods of probes and water tests. Our non-destructive testing techniques include the use of infrared imaging to identify thermal anomalies and moisture-compromised insulation, the use of roof and wall moisture scanners and moisture meters to perform impedance testing and identify the relative moisture content of the material, and electronic leak detection (electric field vector mapping) to identify the precise location of water infiltration.
 

Roof Condition Assessments

Rimkus recommends a roof condition assessment to better understand the life expectancy of a roof and to address an immediate concern. The result is a promptly delivered roof analysis outlining the strengths and weaknesses of the existing roof system. Our findings are put into a clear and legible report that includes photo evidence, illustrations, and a colored AutoCAD roof plan. We believe that a high level of clarity and transparency is crucial to help our clients make informed decisions. Many of our technicians are RCI Inc., RRC, and RRO certified. Our emergency leak responders can diagnose numerous problems on the spot and expedite the remediation strategy. Capital planning is also an important component that we provide as part this process. We believe it is important to provide our clients with a strategy for future investments and expenditures to meet both the short and long-term budget plans.
 

Waterproofing and Weatherproofing Assessments and Design

Rimkus assists in the evaluation of existing roofing/waterproofing systems, as well as the design and construction administration of the repair or replacement, of all roofing/waterproofing systems including:

  • Single Ply (Thermoset and Thermoplastic) Systems
  • Modified Bitumen Roof Systems
  • Fluid-Applied Liquid Membranes
  • Vegetative/Green Roofs
  • Balcony Waterproofing
  • Below-Grade and Sidewalk Vault Waterproofing

Similar to most aspects of construction one size, does not fit all with respect to roofing and waterproofing systems. Several factors determine the appropriate system for a particular building, including:

  • Building Code Regulations
  • Requirements of Owner’s Insurance Provider
  • Climate and Wind/Weather Exposure
  • Frequency and Type of Foot Traffic
  • Intended Use (of Roof Surface and Interior Space Below)
  • Mechanical Equipment and Exhaust Units
  • Overall Size
  • Roof Slope
  • Desired Life Expectancy
  • Owner’s Budget
  • Number of Penetrations
  • Roof Deck Composition

Several commonly overlooked processes can be established during the installation of a new roof that will help reduce the cost of future maintenance and extend the service life of the roof system:

Leak detection systems can be installed in most roof systems to use as a quality assurance tool and to allow for easy identification of future leaks. This is particularly important in roofs with an overburden (i.e., inverted roof systems and vegetative roofs). A custom-tailored roof inspection and maintenance schedule should be provided for the owner’s use in prolonging the useful life of the roof system and minimizing the risk of leaks resulting from roof damage.

 
 

General Contact Information

 


 
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United Professional Engineering (UPE)delivers expert structural solutions tailored for South Florida’s unique building environment.

United Professional Engineering (UPE)delivers expert structural solutions tailored for South Florida’s unique building environment.

United Professional Engineering United Professional Engineering (UPE) delivers expert structural solutions tailored for South Florida’s unique building environment. Celebrating 20 years in business, UPE is led by Carmelo Giglio, PE, SI, FRSE, CGC, CSI-CDT, and supported by a licensed team of engineers, inspectors, designers, and general contractors. From structural inspections and milestone reports to restoration and design, we help ensure safety, compliance, and long-term value at every stage of the building lifecycle.

 

Providing exceptional engineering services through integrity, reliability and professionalism. With over 21 years of experience, we are the leaders in the industry, and we can help you as well!

Structural Engineering

Commercial, Industrial and Residential Buildings, Marine Structures and more.

Building Restoration Engineering

Structural restoration, concrete restoration, structural strengthening and more.

Inspection Services

Building inspections, threshold inspections, home purchase inspections and more.

Forensic Engineering

Structural condition assessments, expert witness services and more.

Construction Administration

Contract administration, contractor selection assistance and more.

Consulting Services

UPE’s engineering consultants offer a full range of services based on extensive project experience and innovative thinking.

 

Today, one of the largest investments is building a structure and how to maintain its lifespan. Structural integrity, environmental factors, atmospheric elements, and maintaining aesthetics are all important factors that we evaluate very carefully, when working on a project. At UPE our highly qualified licensed designers, engineers and general contractors promises to ensure your investment is protected.

We believe it’s important to exhibit and maintain an open communication network, while working towards each of our client’s best interests, as well as everyone involved. We are committed to structural safety and serviceability, identify equilibrium conditions, resolve limitations and utilize preventive and corrective maintenance behavior. UPE is here to help accomplish each milestone of your project, together!

 

CARMELO GIGLIO
Owner
UNITED PROFESSIONAL ENGINEERING
carmelo@upefl.com
http://upefl.com
Office: 561-582-1733

 

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Condominium owners in St. Petersburg face towering uncertainty as over 200 buildings must complete Milestone Inspection Reports by Dec. 31.

Condominium owners in St. Petersburg face towering uncertainty as over 200 buildings must complete Milestone Inspection Reports by Dec. 31.

A new state law requires mandatory structural studies on older condo buildings with three or more stories. Senate Bill 4-D also requires association boards to increase repair funding reserves, and many owners now face six-figure special assessment fees.

Don Tyre, building official manager, provided city council members an update on the local process at a committee meeting. He noted that 225 condo buildings must submit reinspection reports this year, as all exist within three miles of the coast.

“I’m hoping to get three-quarters of the buildings to submit by December,” Tyre said. “There are going to be some issues; this is a new regulatory requirement. There’s only so many engineering firms that do this work.”

He said bill provisions allow deadline extension in some extenuating circumstances. The city will address delinquent buildings on a “case-by-case basis.”

The legislation, stems from the Chaplain South Tower’s collapse in Surfside, Florida. The catastrophe – still under investigation and blamed on several factors – killed 98 people

 

Miami-Dade and Broward Counties were the only jurisdictions to mandate structural inspection programs for existing buildings before the collapse. The local ordinances required buildings over 40 years old to receive a 10-year recertification.

“That’s, basically, what we’re going to be following – a 25-year inspection program with a 10-year reinspection portion,” Tyre said. “December of this year is the big date. It’s been postponed once; I don’t anticipate it being postponed again.”

He noted that 68 of the 225 buildings have submitted milestone reports. The legislation also applies to commercial structures of any height with an occupancy limit exceeding 500 people.

Local governments must submit a 180-day notice to affected owners and associations. St. Petersburg issued those forms

Tyre explained Phase I is a visual inspection from an architect or engineer to discern “any possible substantial structural deterioration.” Those could require further evaluations, and stakeholders must submit a Phase II Inspection report within 180 days.

“The responsibility falls to the condo ownership group and architectural or engineering firm they hire to provide that documentation,” Tyre added. “If they deem it necessary to go into a Phase II inspection, that’s a more forensic investigation.”

He said that could include building material sample testing, movement measurements, soil studies and “a number of different building imaging options.” The owners have one year to pull permits and start repairs if the architectural or engineering firm finds significant deterioration.

“If there’s a life safety issue, that’s when we (the city) would step in as a regulatory authority,” Tyre said. “And potentially, either evacuate the building or a portion of the building – it could be limited to just a small area, like a couple of balconies or something like that.

“There’s going to be some condo associations or buildings that will require a deeper review.”

Tyre said the inspections focus on structural integrity rather than code violations and fall outside the city’s scope. However, building officials will provide oversight.

Councilmember Brandi Gabbard requested the update and noted that received reports would constitute municipal public records. She said that would help inform prospective buyers.

“Anybody who has ever bought or sold a condo knows that sometimes it is challenging to get all of the documentation regarding the condo association the way it is now,” Gabbard said. “But then when you add this on top of it, and the type of reserves that we could potentially see being increased, there is some concern over transparency …”

Tyre said building officials must redact some information, and residents must submit a formal public records request to receive documentation. Elizabeth Abernethy, director of planning and development services, said they could explore creating an online portal to streamline the process.

The legislation allows local governments to implement a fee for reviewing submitted inspection reports. Abernethy believes the city has adequate staff to “get through this initial push and wouldn’t be necessary to charge an additional fee for review those reports.”

However, buildings needing repairs must pay associated permitting costs. Gabbard said she has “no desire” to require additional payments.

“Some of these reserve needs are going to be pretty hefty,” she added. “I don’t think we need to pile on.”

Thank You for the contribution of this article so others can learn.

Florida Condo Building Inspections (SB4d)

The State of Florida  Property Management Association with Legal & Engineering Members are here to  provide help so you understand the new laws and how to take the correct action to ensure you are in full compliance.

http://FLBuildingInspections.com  (a division of SFPMA)

 

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HB 913 compliance isn’t optional—and the December 31 deadline is coming fast. : SRI Consultants, Inc.

HB 913 compliance isn’t optional—and the December 31 deadline is coming fast. : SRI Consultants, Inc.

SRI Consultants, Inc.

 

HB 913 compliance isn’t optional—and the December 31 deadline is coming fast.

At SRI, we’re turning questions into clarity with AI-powered insights. Visit our updated “AI for Building Safety” webpage for the guidance you need before time runs out.

Find the answers to your Questions using our AI today.

https://hb913.sriconsultants.net/

 

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Don’t let a natural disaster catch your community off guard! Take charge and be prepared!

Don’t let a natural disaster catch your community off guard! Take charge and be prepared!

The coastal Northeast is experiencing a concerning trend of heating at a faster rate compared to other regions in North America. Researchers have identified a strong correlation between the accelerated warming and the rapidly increasing temperatures in the North Atlantic Ocean and increasing storm intensity. Natural disasters such as hurricanes, tornadoes and coastal flooding can strike at any moment, leaving communities devastated and in need of immediate assistance. It is crucial for communities to be prepared in order to minimize the impact of these disasters and ensure the safety of their residents.

Preparing your community for a natural disaster is crucial to minimize damage, save lives, and facilitate a swift recovery. Here are a few steps to assist with your preparation:

Assessment and Planning:

  • Identify the types of natural disasters that are common in your area, such as earthquakes, hurricanes, floods, wildfires, or tornadoes.
  • Conduct a thorough risk assessment to understand the potential impact of these disasters on infrastructure, buildings, and residents.
  • Collaborate with professionals to create a comprehensive disaster preparedness plan.
  • Make sure that the community has backed up records of their site plans, architectural and structural drawings, as this can greatly assist in the post disaster assessment and recovery process.

Initial building evaluation performed based on the severity of the storm/event:

  • The degree of safety & habitability of the subject building is not always obvious. If there is any doubt or question that there may be structural or building envelope damage to a building, call you Professional Engineer or Architect and have an evaluation performed.
  • In some instances, you may be required by your local municipality to have your professional assist with stabilizing the structure before parties can enter the structure to collect personal belonging that may remain.

Communication and Engagement:

  • Establish a reliable communication system to disseminate information before, during, and after a disaster. This can include email, social media, or text alerts.
  • Designate community leaders or volunteers responsible for communicating updates and instructions.

Contact Insurance:

  • It can take a while to get adjusters to scene following an event. Be sure to take before, during and after photos of any damage that occurred.

Post-Disaster Recovery:

  • Establish a recovery plan that includes damage assessment, debris removal, and restoration of essential services.
  • Plans and specifications may be required to repair or reconstruct the building, depending on severity.
  • Code requirements can impact the work based on if it is classified as repair vs reconstruction. This needs to be carefully reviewed and considered as insurance carriers may try to exclude some of the necessary work, so the Architect or Engineer needs to be well versed on preparing plans for this type of work.

Remember, disaster preparedness is an ongoing effort. Regularly review and update your plans based on new information, changing community demographics, and emerging technologies. By taking proactive steps, you can help your community minimize the impact of natural disasters and ensure a more resilient future.

Contact our team for more information how to be proactive! 

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The Falcon Group
Miami
15405 NW 7th Avenue in Miami, FL 33169
ph: 305.663.1970 x509
info@falconengineering.com
 
WEST PALM BEACH, FLORIDA
5651 Corporate Way, Suite 4, West Palm Beach, Florida 33407
Phone: 561-290-0504
info@falconengineering.com
 
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Need a few reasons to digitize your paper-based engineering and architectural drawings? How about these?

Need a few reasons to digitize your paper-based engineering and architectural drawings? How about these?

1- Accessibility and Sharing. Digital files are easy to search, copy and share, saving valuable time and improving collaboration.
2- Storage and Document Integrity. Digital drawings are much less expensive to store than paper copies and are not subject to degradation over time.
3- Flexibility. Digital drawings are easy to rework or update, streamlining change processes and speeding renovations.
4- Details. Digital designs allow for the addition of audio or video to individual elements, providing an extra level of detail (e.g., materials, site layout, construction processes).
At the end of the day, digitization is a huge time and cost saver.
Call Us—561.372.1290
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Florida’s brewing condo crisis as property values drop in once-coveted retirement haven

Florida’s brewing condo crisis as property values drop in once-coveted retirement haven

A slow-motion crisis is unfolding in Florida’s condo market, threatening to upend the state’s image as a haven for retirees and reasonably priced beach living.

Owners of the state’s older condos are bracing for steep special assessments, while racing to sell their homes and receiving only tepid buyer response.

Amid a property market that’s still vibrant for nearly every other segment, Florida’s aging condominiums are losing value. And nearly 1,400 buildings are now blacklisted from receiving mortgage financing, making those apartments an even-tougher sell.

Thousands of Florida condo units face special repair assessments which are making them difficult to sell — and causing them to lose value quickly. oldmn – stock.adobe.com
Thousands of Florida condo units face special repair assessments which are making them difficult to sell — and causing them to lose value quickly. oldmn – stock.adobe.com

At the heart of this turmoil is a basic reality: Florida’s aging condo buildings desperately need repairs, and state officials are forcing them to assess (and pay for) those long-overdue upgrades.

Under a law enacted after the tragic 2021 collapse of Champlain Towers South in Surfside, which saw 98 people lose their lives, condo boards may no longer defer major structural improvements to another day — or decade. The “Building Safety Act” required every condo tower in Florida aged 30 years or older to complete a structural integrity study by the end of 2024, to get a full grasp of what problems need fixing.

 

This year, the tab for those repairs comes due. Condo boards must now set aside funds to fix the issues found in those studies — from concrete restoration to balcony overhauls. And the assessments on individual condo owners are looking both pricey and unsettling.

“You’re going to see a massive reduction in the value of these buildings based on these giant special assessments and the work that has to be done,” said Orest Tomaselli, CEO of Strategic Inspections, which advises condo boards nationally on how to shore up their reserves.

In Florida buildings he’s worked with, Tomaselli has seen special assessments as low as $250 per month, to a property that levied $2,500 per month, per unit owner, for a three-year stretch.

The assessments result from inspection and repair mandates stemming from the 2021 Surfside building collapse that killed 98 people. AP
The assessments result from inspection and repair mandates stemming from the 2021 Surfside building collapse that killed 98 people. AP

“There are real people in these units that may be displaced,” Tomaselli said of the assessments, “that may lose their nest egg and may lose tremendous amounts of value in their units.”

”At Aventura’s Mediterranean Village, a waterfront condo complex with a marina out front, unit owners were hit with six-figure special assessments last year, some as high as $400,000, according to published reports.

 

At Miami’s Cricket Club, a 50-year-old waterfront tower burdened with $134,000 special assessments per condo, 23 of the building’s 217 condos are currently for sale, according to brokerage Compass. In a Miami market where the median condo price was $445,000 in the fourth quarter of last year, condos at the Cricket Club are seeking buyers with prices as low as $220,000 for a 1,950-square-foot two-bedroom on the 19th floor.  (The owner initially sought $330,000).

The Summit Towers in Hollywood, FL is facing a $56 million assessment. Google Maps
The Summit Towers in Hollywood, FL is facing a $56 million assessment. Google Maps

Meanwhile, at Summit Towers in Hollywood, a building-wide special assessment of $56 million led to the ousting of four board members in a January election, in favor of new members who promised “a more moderate approach” to building up reserves, said Amy Greenberg, a broker and resident of the building with several listings there.

“A lot of people moved here to be able to retire and live their life here, and they’re on fixed incomes,” said Kathleen DiBona, a 50-year resident of Hollywood who serves as president of the Hollywood Beach Civic Association. “They’re having a difficult time being able to manage all that’s coming and hitting them.”Many owners whom DiBona knows in Hollywood, a city dotted with older towers, are seeking to off-load units with little success. Others, she said, have dropped insurance coverage for their condos so they can manage to pay their special assessments.

Failure to pay these assessments will impact more than just the individual owners who can’t afford them. If 15% of unit owners in a building default, the entire property could become ineligible for mortgage financing, according to Tomaselli of Strategic Inspections.

“What happens if nobody can get a loan to buy a unit in your building?” says Joseph Hernandez, a Miami-based partner in the real estate group of law firm Bilzin Sumberg. “It essentially makes the units in your building unsaleable and it makes the value of those units go down.

“We may see a lot of condo projects go into distress.”

Some could already be getting close. In February, Fannie Mae, the national mortgage finance agency, updated its running list of “unavailable” US condo buildings, meaning they are no longer eligible for mortgage financing. Of the 4,885 buildings currently on the list, 29% are located in Florida, the highest share of any state. The top reason: “critical repairs or deferred maintenance,” according to a person familiar with the roster.

One newly flagged example is 4000 Island Blvd., a 32-story condominium in Aventura’s exclusive Williams Island, which was built in 1985 and added to Fannie Mae’s no-lending list in January. At least 24 unit owners are trying to sell, according to Compass. Barry Sytner, the condo board’s president, called the building’s inclusion on Fannie Mae’s list “incorrect,” noting that the property just secured a bank loan commitment to cover expenses tied to its 40-year inspection.

There are roughly 1.1 million condo units in Florida that are 30 years old or more, and subject to the new law, according to the Florida Policy Project. Of those, 58% are concentrated along the Southwest and Southeast coastal counties, in places like Tampa, Clearwater and the greater Miami metro area, including Fort Lauderdale and Palm Beach County.

Around two dozen condos are up for sale in this Aventura, FL condo building, according to reports. miamiresidence.com
Around two dozen condos are up for sale in this Aventura, FL condo building, according to reports. miamiresidence.com

That means the law’s reach extends to more than half of all condo owners in Florida’s famed retirement enclaves. According to brokerage ISG World, apartments that are over 30 years old accounted for 86% of all Southeast Florida condo listings in the fourth quarter of 2024 — a total of  17,198 properties for sale across Miami-Dade, Broward and Palm Beach counties.

Yet even as thousands of newcomers flock to the region, these abundant and discounted units are languishing on the market, weighed down by the threat of special assessments and uncertainty over looming repair costs.

“The fear of the unknown is scaring the hell out of potential buyers,” said Craig Studnicky, ISG’s chief executive officer.

“Remember that show, ‘Let’s Make a Deal?’ ” Studnicky said. “They may get a special assessment and it could be quite modest, which means you just made one hell of a deal. But what if you’re wrong, and the special assessment is gargantuan?  Not only is the special assessment big, but the scope of construction is big, and you’re going to be living in a construction site for the next two years.”

The full extent of special assessments is still an open question for many Florida properties. While the state deadline for condos to submit their structural integrity studies was on Dec. 31, only 39% of buildings in Southeast Florida have done so, according to the Miami Association of Realtors.

Some of that’s because engineers were simply not available, amid a statewide rush to get these studies completed. Others could be gambling that enforcement won’t be robust or swift, said Peter Zalewski, a Miami-based broker, analyst and condo investment consultant.

“You’re going to see a massive reduction in the value of these buildings based on these giant special assessments and the work that has to be done,” said Orest Tomaselli, CEO of Strategic Inspections.
“You’re going to see a massive reduction in the value of these buildings based on these giant special assessments and the work that has to be done,” said Orest Tomaselli, CEO of Strategic Inspections.

“You have buildings that are shopping for studies, because maybe they’re coming in too high, and maybe they can find someone who can lowball it,” Zalewski said.

“People are figuring out what to do,” Zalewski added. “They think there will be a silver bullet, some kind of cure in the upcoming Florida legislative session” amid outcry from condo owners

The state legislature, which convenes its 2025 session March 4, has no plans to bail out condos or offer reprieve from the deadlines to fund repairs, Florida legislative leaders said at a condo conference last month held by Miami Realtors, according to Homes.com.

“A lot of people moved here to be able to retire and live their life here, and they’re on fixed incomes,” said Kathleen DiBona. Courtesy of Kathleen DiBona
“A lot of people moved here to be able to retire and live their life here, and they’re on fixed incomes,” said Kathleen DiBona. Courtesy of Kathleen DiBona

Lawmakers, however, might consider financing solutions to help condos cover the cost of structural studies and maintenance, including allowing reserve funds they set aside to be invested.

Despite some maintenance challenges, Florida’s older condos still reflect the only affordable opportunity at homeownership for those who can’t swing the price tags of Miami’s new crop of ultra-luxury developments, says Scott Diffenderfer, a Miami-Beach-based broker for Compass who specializes in sales of older units.

He says he’s pretty upfront with potential buyers these days about the scope and costs of repair that some of his listings will undergo.

Brokers view the new regulations and mandatory repairs as a necessary correction to Florida’s once-lax condo standards, Diffenderfer explained.

Previously, buyers had little insight into a building’s true condition — much like purchasing a used car without a Carfax report.

Now, with stricter enforcement requiring proper reserves and full disclosure of maintenance history, brokers say the condo market could become more transparent and ultimately unlock greater value for owners.

“For probably 75% of the buildings in South Florida, when the dust settles, people are going to say, ‘You know what? That was painful. But look at these buildings!’ ” Studnicky said. “They’re in great shape.”

We see our members for the past years the ones being called upon by condo Boards to help them navagate the waters for inspections, Boards tell us SFPMA Directory is one place they find the most help, top companies giving them the honest assessments for Owners.

 

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ROUTINE INSPECTON IS THE FOUNDATION UPON WHICH ALL GREAT MAINTENANCE PLANS ARE BUILT.

ROUTINE INSPECTON IS THE FOUNDATION UPON WHICH ALL GREAT MAINTENANCE PLANS ARE BUILT.

  • Posted: Jan 11, 2025
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Managers here is a maintenance checklist to get the ball rolling? We’ve created just the one to help you identify problem areas before they reach critical status.

Preventive Maintenance is Key, A good manager should get out of the Office and walk the property, get your hands dirty, take action on any problem or the start of a problem you see. This way you will not have a major problem later.

SRI Consultants has come up with a great checklist for you to use. DL it below.

Sign up for your FREE 3-page property maintenance checklist now http://ow.ly/M7YV50IITeO
And make sure to reach out when you require detailed inspections and repair recommendations by a licensed engineer (Hint: 30-40-50-year surveys). We look forward to your call!

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Contact SRI Consultants at office@sriconsultants.net or call (561) 372-1290

 

 

 

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