Risings Condo Costs Spark Calls for Help

As Florida's December 31 deadline for mandatory condo safety inspections approaches, condo owners across the state, including those in Century Village East are calling for a special legislative session to address the financial burden created by new state laws. Passed in response to the tragic collapse of the Champlain Towers South in Surfside in 2021, the rules require some condos to complete involved inspections and a structural integrity reserve study (SIRS) to determine how much work, if any, needs to be done to ensure the safety of a building, and how much money is needed for current and future maintenance. 

While these regulations aim to prevent similar disasters and improve building safety, they are resulting in steep cost increases for condo associations and, ultimately, for residents. Condo owners in CVE are among those facing rising monthly dues and special assessments as their associations struggle to cover the costs of complying with the law. For many CVE residents, who are often retirees living on fixed incomes, these additional expenses create a significant financial burden.

Many residents have reported that their buildings’ associations have significantly increased monthly dues, with some units facing one-time special assessments that run into the thousands of dollars. The financial strain is hitting hard in communities like CVE, where many older residents depend on their fixed incomes to manage living expenses.

Governor Ron DeSantis recently bowed to pressure and called for a special legislative session to address the financial crisis created by the law he signed in 2022.

With the year-end deadline fast approaching and costs continuing to rise, Florida condo owners are urging the state to act. Many are hopeful that a special session will bring solutions, balancing the need for safety with financial fairness for condo owners across the state.