In the wake of a 2021 Florida law, condo owners are facing a variety of new requirements and potentially massive fees. Following the collapse of Champlain Tower in Surfside, the legislature passed a statute requiring, among other things, that buildings over 30 years old (20 years on the coasts) be inspected and collect reserve capital from owners in order to make repairs. In some cases, these could result in assessments as high as $100,000 over the next year for individual owners. Read the article…………………………….
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