Florida lawmakers are looking for ways to ease the financial burden many condo owners are facing after the legislative body passed laws requiring condo associations to make routine inspections and keep reserve funds for repairs.
The rules were a response to the 2021 Surfside condo collapse, that left 98 people dead.
Saint Augustine Republican Senator Tom Leek’s idea is increasing home improvement grants offered by the My Safe Florida Condominium Pilot Program.
“The program is intended to harden structures and reduce the risk of hurricane damage," Lee told the Senate Banking and Insurance Committee on Monday. "Those grants should only be provided for work that will accomplish this purpose.”
If HB 393/SB 592 is passed, condo owners who use the My Safe Florida program to improve their roofs, doors, and windows could see a decrease in their property insurance. The bill would also:
• Revise the definition of “condominium” to exclude detached units on individual parcels of land.
• Limit participation in the Program to condominiums that are three stories or more in height and require the structure or building that is the subject of the mitigation grant to include at least one residential unit within such structure or building.
• Require approval of at least 75 percent of all unit owners who reside within the structure or building that is the subject of the mitigation grant, rather than a unanimous vote of all unit owners.
Eight condo-related bills have been filed this session. Here's a few of them:
- HB 6005/SB 586: Statute of Repose for Actions by Condominium Associations; Removes statute of repose for certain actions.
- HB 1015/SB 948 Real Property and Condominium Flood Disclosures; Requires landlord of residential real property to provide specified information to prospective tenant at or before time rental agreement is executed.
- HB 799/SB 1200: Special Alcoholic Beverage Licenses Issued to Residential Condominiums; Excludes certain residential condominiums that sell alcoholic beverages from limitation of number of specified licenses issued; requires licenses to be issued only to person or corporation that manages food & beverage operations.
- HB 1073/SB 1020: Coverage by Citizens Property Insurance Corporation; Revises eligibility for coverage of residential structures in certain counties by Citizens Property Insurance Corporation.