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Disclosure rules for Miami-Dade condos and homeowners associations become law

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Matias J. Ocner
/
Miami Herald file
Condominium associations are now subject to disclosure rules in Miami-Dade County under a law passed Tuesday, March 1, 2022. The county law requires disclosure of financial statements and other documents that will be posted on a county database.

Miami-Dade County commissioners on Tuesday passed sweeping disclosure rules for all condominium and homeowner associations, requiring public filings of financial statements and structural reports.

The legislation by Commissioner René Garcia requires the submissions by February 2023, with the documents then uploaded onto a county database available to the public. While many of the documents must be disclosed to unit owners and would-be condo buyers after a sales contract is signed, the records otherwise are not available to the public.

Passed unanimously, the law is part of a package of legislation proposed after the June 24 partial collapse of the Champlain Towers South condo tower in Surfside. The catastrophe, which killed 98 people, sparked calls for more scrutiny and transparency on how condo buildings are maintained and managed.

Read more from our news partner The Miami Herald.