Older Coastal Condos Face Death Spiral as New Laws, Soaring Costs, and Fear Push Associations and Owners to the Brink
Fla. News Network —A growing crisis is unfolding in Florida’s older condominium market, where a combination of new legislation, soaring insurance costs, and rising maintenance/reserve fees has created a perfect storm of destruction. The collapse of Champlain Towers in 2021 led to a knee-jerk reaction from Tallahassee lawmakers, resulting in new laws that have had devastating unintended consequences for many retirees and condo owners.…