"Navigating Florida's New Condo Laws: What Central Florida Owners & Buyers Need to Know"
The Floridant/10309723

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ORLANDO, Fla. - Floridant -- Florida homeowners and buyers will see significant updates to condominium laws in direct response to post‑Surfside safety concerns and rising living costs. These changes bring more transparency, flexibility, and buyer protections—but also new responsibilities for owners and associations.

🧭 Why Now?
  • The 2021 Surfside collapse, which tragically took 98 lives, prompted sweeping statewide reforms. Initial laws imposed strict reserve funding and inspection mandates that led to steep special assessments—worthiness for long-time owners but costly in many older buildings.
  • Rising insurer requirements and inflation have spiked costs, causing some monthly HOA fees to triple, hitting retirees particularly hard.

What's Changing (Effective July 1, 2025):

1. Extended Review Period for Buyers
  • Buyers now have seven business days (excluding weekends and holidays) to review condo documents—up from the previous 3 days.
  • Updated contract forms (CR‑7, CRSP17x_F, COOP‑4) will standardize these timelines and include disclosures on special assessments, inspections, and structural reports.

2. Greater Financial & Loan Flexibility
  • Associations may now pause reserve contributions for up to two years after milestone inspections, extend reserve-study deadlines by one year, and borrow via loans or lines of credit approved by owners.
  • The repair-cost threshold triggering mandatory reserves rises from $10,000 to $25,000, reducing burden on minor upgrades.

3. Targeted Inspection Timing & Size Relief
  • Buildings of three habitable stories or more (down from three full stories) are subject to milestone inspections and SIRS reports.
  • Exemptions and relaxed deadlines aim to ease pressure on smaller or low-rise condos.

4. Transparency & Governance Enhancements
  • Condos must now publicly post approved board meeting minutes (past 12 months) and key association documents on accessible platforms.
  • Managers with revoked licenses are barred from serving for ten years, and all conflicts of interest and procurement contracts must be fully disclosed.

The Real‑World Impact in Central Florida

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Buyers   More time to investigate documents and stronger contract protections.   Beware of buildings launching large repair plans.

Sellers   Pre‑assembled packs and transparent disclosures speed up transactions.   You may need updated forms and clear inspections ahead of sale.

Owners/Associations   Financial pauses, loan options, and phased reserves help budgeting.   Milestone inspections still required—you must plan ahead.

Realtors   Can highlight buyer protections and pre‑sale readiness as a sales tool.   Must stay current on forms, deadlines, and association compliance.

In Summary

These law changes strike a needed balance: improving condo safety and affordability while giving associations more time and options. For Central Florida, that means smoother transactions, better informed buyers, and healthier community governance.

If you'd like to discuss how these updates affect your listing or a buyer's options, I'm just a call away.
702-525-7655
Doc@PhilHolliday-Realtor.com
https://PhilipHolliday.PreferredREBrokers.com

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Source: Phil Holliday Realtor-Preferred Real Estate Broker
Filed Under: Real Estate
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