There is no shortage of information on the recent changes to Condominium Legislation, or the FR/BAR Rider related to Condominiums that was just updated in March. However, we recently discussed the upcoming changes in our blog post here. Since then, Senate Bill 154 has been introduced. It aims to answer some of the questions on people’s minds and provide guidance on the requirements that the prior changes established.
Some of the most commonly asked questions are below:
How Do I Know When My Milestone Inspection Has To Be Completed?
The updated language allows milestone inspections to be completed every 30 years, without a distinction for proximity to the coastline, with an allowance for local enforcement agencies to set a 25-year requirement if justified by local environmental conditions, including proximity to seawater. This removes some ambiguity when determining what is considered a coastline and how a 3-mile distance is measured.
Who Completes the Milestone Inspection?
A team of design professionals can provide the Milestone Inspection(s) services with an architect or engineer acting as a registered design professional in “Responsible Charge” as defined by Fla. Admin. Code. Previously, there was ambiguity regarding who could be hired to create the reports and how an association would know whom to hire to complete a reliable report.
What Happens if the Inspections or Reserve Study Cannot Be Completed By the Deadline?
Provisions have been made to allow local enforcement agencies to extend the inspection deadline for a building on a case-by-case basis
, upon a petition, showing that the owners of the units or building have entered into the necessary contracts for the completion of the milestone inspection services; however, the actual inspections cannot be reasonably completed before the deadline. This clarifies the concern that only some associations or owners can meet the deadline and allows those who have made a diligent effort to start the process to receive an extension to complete the required work.
How Will I Know if a Study Was Done and What My Buyer Should Expect to Receive with the Condominium Documents?
Clarification has been added that all unit owners should receive a copy of the inspection report summary within 30 days of its receipt. The bill also requires that as part of the presale disclosure requirement, both developer and non-developer sellers will be required to provide notice that the association has either failed to complete their inspection or reserve study, as appropriate or advising that the association is not required to have an inspection or reserve study. Condominium buyers should look for these disclosures on or around the December 2024 deadline for completion.
For more information on these changes to the legislation and the condominium rider, contact your trusted local real estate attorney.
DISCLAIMER: The updates to Senate Bill 154 mentioned above have not officially been signed into law as of the writing of this blog.