Changes to Florida's Condo Laws
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Changes to Florida's Condo Laws
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The Surfside condo collapse in 2021 precipated a number of changes to Florida's condo laws. The result has been a massive negative impact on condos across the entire state.
The latest change to the regulations improves the outlook by allowing home owner associations to fund part of their reserve funds using loans and lines of credit. Previously these reserves had to be funded in cash by the unit owners, often resulting in special assessements of hundreds of thousands for each owner.
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