Florida condo owners look at higher costs as new regulations take effect in the new year

/ Owner - December 27, 2024

Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022.   It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. Because of the law, older condos — found largely in South Florida, according to state records — are facing hefty increases to association payments to fund the reserves and repair costs.       Read the article…………………………….

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