Gov. Ron DeSantis on Monday signed a pair of bills into law to help Florida condo owners, calling the relief "much-needed" in a press statement. The bills signed were HB 913 and HB 393.
“Today in Clearwater, I signed legislation to deliver much-needed relief to condo owners across Florida,” DeSanits said. “We’ve heard the concerns of condo owners throughout Florida, and we are delivering reforms that will provide financial relief and flexibility, strengthen oversight for condo associations, and empower unit owners.”
Under the law, HB 913 will do the following:
- Makes changes to the regulation of condos and cooperatives
- Increases transparency and accountability in condominium associations
- Provides financial relief for condo owners
Rep. Vicki Lopez (R-Miami) sponsored HB 913 in the House. Sen. Jennifer Bradley (R-Fleming Island) carried a comparable Senate version.
The law also addresses the affordability of mandated condo safety measures by providing "immediate relief from the sudden cost burden of fee assessments by extending the reserve study requirement for one year and allowing for a 2-year pause in reserve fund contributions to prioritize funding critical repairs identified in a milestone inspection."
Moreover, it provides affordability by increasing the "replacement cost of repairs required to be reserved and considered in the Structural Integrity Reserve Study (SIRS) from $10,000 to $25,000 to prioritize more critical repairs."
It also puts more accountability on condo associations by giving boards and unit owners the authority to terminate a contract if a manager fails to follow the rules of Florida's condo laws.
Furthermore, it bans association managers whose licenses are revoked by the state's Business and Professional Regulation (DBPR) from holding any role in a management firm or having a license for 10 years.
The law also "enhances oversight, transparency, and empowers condo owners to be more involved in the decision making of their associations," which includes mandating full transparency of conflicts of interest and competitive bidding for contracts to make repairs on condominiums.
In addition, the law requires associations to put more information online, giving residents greater transparency into how their community is managed and how money is spent.
Finally, the law promotes financial transparency by allowing unit owners access to their associations’ financial records. It also gives associations more time to finish financial reports.
HB 393 will upgrade the My Safe Florida Condo Pilot Program from responses and input from condo owners.
Reps. Christine Hunschofsky (D-Parkland) and Lopez sponsored the bill in the House. Sen. Tom Leek (R-St. Augustine) carried a similar Senate version.
The improvements include:
- Limiting grant funding that will result in a mitigation credit, discount, or other rate differential for the building or structure to which the advancement is made
- Lowers approval requirements from all unit owners to 75 percent of unit owners who reside in the affected structure
- Updating eligible improvements to provide for the replacement of a roof covering, among other measures.
