Stringent Post-Surfside Reforms Leave Thousands of Older Condo Owners Trapped Between Massive Assessments and Unsellable Units
Fort Lauderdale, FL – In June 2021, after the tragic collapse of the Champlain Towers South in Surfside, Florida, the state of Florida enacted stringent new inspection laws aimed at ensuring the safety and structural integrity of older condominium buildings. While these laws were well-intentioned, they have had significant unintended consequences for condo owners, particularly those in older buildings. This article explores the impact of these new laws on condo owners, the challenges they face, and potential solutions to mitigate these issues.
The new inspection laws aimed to enhance condominium safety; their implementation has created significant challenges for older condo owners. To address these unintended consequences, stakeholders must work together to find solutions that balance safety with affordability and fairness. By providing financing options, education, and outreach, we can ensure that Florida’s condominiums are safe, secure, and affordable for all owners.