Florida Governor DeSantis Signs Condo Financial Relief, Safety Law Overhaul

Florida Governor Ron DeSantis signed legislation aimed at providing financial relief to condominium owners burdened by costly assessments and fees resulting from safety regulations enacted after the 2021 Surfside condo collapse. The new law, HB 913, allows condominium associations to explore credit lines and loans to fund repairs instead of immediately raising fees, extends deadlines for structural integrity reserve studies, and exempts buildings with three or fewer residential stories from certain inspections. DeSantis emphasized the need for affordability, stating that owners should not be forced out of their homes due to expensive assessments for repairs that do not threaten structural integrity. The legislation also improves transparency and accountability in condo associations and modifies the My Safe Florida Condominium Pilot Program to offer financial assistance for hurricane mitigation projects. DeSantis noted that while the original post-collapse laws were well-intentioned, they had unintended consequences that made living in these units less affordable. The reforms reflect a balance between ensuring building safety and addressing the financial impact on Florida condo owners.