Big news for Florida condo owners and future buyers: Governor Ron DeSantis just signed HB 913 into law, and it brings some real changes to how condos are managed across the state.
If you’ve been side-eyeing those reserve studies or dreading special assessments, this one’s for you. And if you’ve been thinking about buying a condo? You might want to move that idea to the top of your to-do list—more on that in a second.
**What’s in the New Law (in Plain English):**
1. Financial Flexibility for Condo Associations
* Condo boards now have an extra year to complete their required reserve studies.
* They can pause reserve contributions for up to two years to focus on urgent repairs.
* The trigger for requiring reserves for big-ticket repairs has been raised from \$10,000 to \$25,000.
* Owners might see fewer surprise assessments and a little more breathing room in their budgets.
2. More Oversight (Goodbye Shady Contracts)
* The state is stepping up enforcement of education and insurance rules for board members.
* If boards aren’t following the law, unit owners can now terminate contracts.
* All contracts must go through competitive bidding—with full disclosure of conflicts of interest.
3. Empowering Owners (Yes, You Can See the Books Now)
* Condo associations must give online access to records.
* They also have to report key info to the state.
* E-voting and video meetings will make participation easier (no more missing meetings because of traffic).
* Financial transparency is a must—associations have to share their records with owners.
Why This Is Good News for Buyers, Too
Here’s the cherry on top: right now, condo inventory is high across many Florida markets. That means more options for buyers—and motivated sellers who are more open to negotiating on price or terms. Combine that with new laws that make condos more transparent and financially stable, and it could be the perfect time to make your move.
Have questions about how this new law might affect a condo you own—or one you’ve got your eye on? Let’s chat. I’ll help you make sense of the fine print and find the right opportunity.
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