Governor DeSantis signed into law the New Property Insurance Reform in which the intention is to protect the policyholder. For details visit the website https://www.flgov.com/2022/05/26/governor-ron-desantis-signs-bipartisan-property-insurance-and-condominium-safety-reforms/
Condominium Reform
After the Surfside tragedy, Florida lawmakers passed the condominium reform to increase safety in condominiums and cooperatives with 3 stories or higher.
- For buildings located within 3 miles of the coast:
The inspections must occur 25 years after initial occupancy and every 10 years after. - For all other buildings:
The inspections must occur 30 years after initial occupancy and every 10 years after.
Requires more inspection, or a phase 2 if the building reveals substantial structural deterioration.
Condo associations and cooperatives are required to conduct structural integrity reserve studies and prevent needed reserves from being waived.
