08-05-2025
Florida condo owners face safety, structural reforms. They'll look like this
Following the devastating collapse of Champlain Towers South in 2021, Florida has undertaken the most sweeping condo safety reforms in the state's history. These new regulations, while aimed at preventing another tragedy, have also placed significant financial burdens on condo associations and unit owners, raising concerns about affordability, property values, and legal exposure.
The key changes revolve around mandatory structural inspections and reserve funding requirements. Under the new laws, any condo building over 30 years old (or 25 years if near the coast) must undergo a milestone inspection conducted by licensed engineers. These inspections assess the structural integrity of a building, identifying potential safety hazards before they become catastrophic. Additionally, the state now requires structural integrity reserve studies, forcing associations to fully fund reserves for critical repairs — a stark departure from previous practices where boards could waive or underfund reserves to keep costs low.
While these measures undeniably enhance resident safety, they come with a hefty price tag. Many older condos are now facing massive special assessments to cover repair costs and reserve funding, leaving some unit owners unable to afford staying in their own homes. This has led to increased litigation as residents challenge assessments, question management decisions, and seek financial alternatives.
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Furthermore, the new laws are accelerating a shift in the Florida condo market. Some buildings that cannot afford to comply are being sold to developers, particularly in high-demand coastal areas where land values are skyrocketing. This is triggering a wave of condo terminations, where older buildings are demolished and replaced with new high-end developments — essentially displacing longtime residents who cannot afford to buy back in.
The state now faces a difficult balancing act: ensuring building safety while preventing financial devastation for condo owners. While lawmakers have provided some funding assistance, it is not nearly enough to cover the full scope of the required repairs statewide. Moving forward, policymakers must explore additional financial relief options, such as state-backed low-interest loans or grants for struggling condo associations, to prevent widespread displacement.
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For Florida property owners, these reforms represent a new era of heightened accountability and cost management. Condo associations must now prioritize long-term financial planning, transparent communication, and expert legal guidance to navigate these changes. The future of Florida's condo market depends on how well these reforms are implemented — and whether the state can balance safety with affordability in the years ahead.
Peter S. Sachs is a founding partner of Sachs Sax Caplan P.L. in Boca Raton, Florida. He is board certified in Condominium and Planned Development Law by the Florida Bar.
This article originally appeared on Palm Beach Post: Florida's condo market is changing. Will reforms help? | Opinion
