The state of Florida introduced new safety regulations for condo buildings, particularly those over 30 years old, in response to the Champlain Towers South collapse. These regulations aim to enhance the structural integrity and safety of older buildings. Here’s what you need to know:
1. Milestone Inspections:
- What Are They? Milestone inspections are mandatory evaluations required for condo buildings that are 30 years or older. These inspections assess the structural integrity of the building to ensure it meets safety standards.
- Who Conducts Them? Certified structural engineers or architects must perform these inspections.
- Frequency: Buildings within three miles of the coastline must be inspected every 25 years after the initial inspection, while buildings further inland are required every 30 years.
2. Reserve Funding Requirements:
- Purpose: Condo associations are now required to maintain adequate reserve funds to cover major repairs and maintenance.
- Calculation: The reserve amount must be based on a structural report and cover the estimated cost of necessary repairs. Associations can no longer waive or underfund these reserves.
- Financial Impact: Homeowners may face increased association fees to meet these reserve requirements.
3. Compliance Deadlines:
- Initial Deadlines: Buildings that reached 30 years in 2022 or earlier must have their milestone inspection completed by December 31, 2024.
- Ongoing Compliance: Future inspections must be scheduled according to the established timeline based on the building’s location and age.
Sources
- Florida Department of Business & Professional Regulation
- Miami Herald on Condo Regulations
