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

/ Owner - December 31, 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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