A Senate committee next week will hold a panel discussion about issues affecting condominium owners and associations, as many residents grapple with increased costs.
The Senate Regulated Industries Committee will hold the discussion Jan. 14, according to a Senate calendar.
The committee’s chairwoman, Fleming Island Republican Jennifer Bradley, and vice chairman, Sunny Isles Beach Democrat Jason Pizzo, have been key players in recent years on condominium issues.
Lawmakers during a 2022 special legislative session passed a measure aimed at requiring condominium associations to have adequate financial reserves to pay for needed repairs to buildings. Also, the bill set requirements for inspections of condominium buildings that are three stories or higher.
Any “substantial structural deterioration” found by engineers or architects would require more-detailed inspections. Association boards were also required to have “structural integrity reserve” studies to determine how much money should be set aside.
The law was tweaked in 2023, and the Legislature in 2024 passed a measure that targeted wrongdoing by members of association boards. The laws, along with higher property-insurance premiums for condominium associations, have led to residents facing increased costs.
Lawmakers passed the changes after the 2021 collapse of the Champlain Towers South building in Surfside that killed 98 people.
READ MORE: South Florida home prices edge down, condo sales keep dropping
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