Condominium owners in Florida are bracing for significant cost increases in 2025 as new safety regulations, enacted in the wake of the tragic Champlain Towers South collapse, begin to take effect. The law, signed by Governor Ron DeSantis in 2022, mandates stricter maintenance, inspection, and reserve funding requirements for condominium associations.
New Requirements for Condo Associations
The legislation requires condominium associations to:
- Maintain sufficient financial reserves for major repairs.
- Conduct a reserve survey every 10 years to assess repair and maintenance needs.
- Submit detailed structural inspection reports by December 31 for buildings with three or more stories.
These changes are particularly impactful for older condos, many of which are located in South Florida. Associations are raising fees to meet reserve funding requirements and address overdue repairs.
The Catalyst: Champlain Towers South Collapse
The regulations were introduced in response to the 2021 partial collapse of Champlain Towers South in Surfside, which claimed 98 lives. The tragedy highlighted the dangers of deferred maintenance and insufficient reserves, prompting lawmakers to act.
The Broader Financial Impact
The new regulations compound financial challenges for Florida homeowners already dealing with a property insurance crisis. According to a May report from the Florida Office of Insurance Regulation, the average homeowner’s insurance premium in Florida is approximately $3,600, about $1,000 higher than the national average.
Mixed Reactions from Condo Owners
Condo owners are divided on the implications of the new rules. In Hallandale Beach, condo owner Kelli Roiter expressed support for the regulations, despite the higher costs. “If it means my oceanfront building — built in 1971 — gets the repairs it needs, I’m for it,” she said.
Others, however, are struggling to cope with rising fees, as associations work to meet the financial demands of compliance.
A Step Toward Safer Housing
While the increased costs pose challenges, the new safety measures aim to prevent future tragedies and ensure the long-term safety and structural integrity of Florida’s condominiums. As 2025 begins, condo owners, associations, and regulators will continue to navigate the financial and logistical hurdles of these sweeping reforms.