Condominium

Florida HB 1021, Condo 3.0, mandates regular structural inspections, stricter reserve funds, and enhanced transparency for condo associations. It requires board members to undergo training on fiduciary duties and conflict-of-interest policies. The bill promotes mediation for dispute resolution to reduce litigation. These measures aim to improve safety, financial stability, and governance within Florida's condominium communities.

Florida's condo market is in a crisis. We delve into the factors driving the upheaval, including soaring HOA fees, spiraling insurance premiums, and rising property taxes. Understand the broader implications for condo owners and potential buyers, and discover why market conditions are making condo sales increasingly challenging.