Florida’s condo market struggles to adapt to new building safety law

/ Owner - December 3, 2024

A new Florida law threatens to sharply increase fees in older condominium buildings, and some industry professionals fear the reverberations could hurt sales, prices and existing owners.  The state legislature requires aging condo buildings at least three stories tall to have engineering safety inspections completed as well as studies that estimate what funding reserves are needed for maintenance and repairs by Dec. 31. Boards must start collecting the necessary reserves and to get the inspections every 10 years.   Read the article…………………………….

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