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Old 03-05-2022, 11:14 PM   #1
OldHalfElf
One Bedroom
 
Join Date: Aug 2010
Posts: 323
Default Florida's stricter condo rules, post Surfside

I read with interest the WSJ article today at

https://www.wsj.com/articles/florida...d=hp_lead_pos6

about Florida's currently pending legislation on condominium inspections, mandatory reserve funds, etc. -- all an apparent response to the 98 tragic deaths in the Surfside collapse. For those without WSJ access, here is a key paragraph:

"The proposals require condos to conduct periodic reserve studies to determine how much money associations need to cover capital projects. Under the House bill, unit owners would no longer be able to waive collecting reserves, as they currently can, for certain building elements, while the Senate measure would tighten requirements for such waiving. Both measures would direct that inspection reports and funding-reserve studies be provided to potential buyers of condo units." [Emphasis added.]

I am neither a Florida resident nor a condominium association maven, and I have not tracked down the draft legislation. The article does not contain the word "timeshare" -- perhaps because they are not covered? I am wondering if someone with real knowledge about this could provide a primer for the Mouseowners on the expected impact, if any, of the legislation on DVC?

Thanks for considering this.

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