CLEARWATER, Fla. —Governor Ron DeSantis signed two bills on Monday aimed at providing financial relief and regulatory reform for condominium owners across Florida. This action comes in response to increasing concerns regarding the rising costs and oversight of condo associations.
During a bill-signing event in Clearwater, DeSantis highlighted that the legislation was crafted based on feedback from condo residents. The goal is to improve transparency, lessen financial burdens, and enhance safety and governance within condominium communities.
“We’ve listened to the concerns of condo owners throughout Florida, and we are implementing reforms designed to provide financial relief and flexibility, strengthen oversight for condo associations, and empower unit owners,” DeSantis stated.
The two measures signed into law are House Bill 913 and House Bill 393, each addressing different aspects of condominium governance and safety.
Key Provisions of HB 913
HB 913 focuses on increasing accountability and financial flexibility for condominium associations. Among its provisions:
- Extended Timelines: The bill delays reserve study requirements by one year and allows condo associations to pause reserve fund contributions for two years to prioritize critical repairs identified in structural inspections.
- Higher Repair Thresholds: It raises the replacement cost threshold for repairs considered in the Structural Integrity Reserve Study (SIRS) from $10,000 to $25,000.
- Transparency Measures: Associations must now disclose conflicts of interest, use competitive bidding for repair contracts, and provide more detailed financial information to unit owners.
- Electronic Access: Associations are now required to make key records available online and are encouraged to expand the use of video conferencing and electronic voting to boost resident participation.
- Enhanced Oversight: Associations must report more detailed property and association data to the Florida Department of Business and Professional Regulation (DBPR) and coordinate safety data with local and state agencies.
- Contract Enforcement: Boards are granted more power to terminate property managers who fail to follow state condo laws, and individuals with revoked licenses face a 10-year ban from industry roles.
Changes to My Safe Florida Condo Program in HB 393
HB 393 modifies the My Safe Florida Condo Pilot Program to improve safety incentives while tightening eligibility and compliance:
- Refined Grant Scope: Grants must now be tied to improvements that provide actual insurance discounts or other measurable benefits.
- Lower Approval Threshold: Approval for certain upgrades now requires support from 75% of residents in the affected building, rather than unanimous consent.
- Updated Improvements: Roof covering replacements are now eligible for grant funding.
- Compliance Requirement: Associations that have not met SIRS or Milestone Inspection mandates are barred from applying.
- Eligibility Limitations: The program is now restricted to buildings with three or more stories and at least two residential units.
The legislation has been introduced in response to ongoing concerns about building safety and increasing condominium costs following the Surfside condominium collapse in 2021. State officials state that the new measures are designed to balance the need for safety with financial feasibility, while also providing unit owners with greater oversight over the management of their communities.
