butters
High on a Hill
- Joined
- Jul 2, 2009
- Posts
- 85,700
quietly brought into being, the new law was supposed to address safety issues in condo buildings after the collapse that happened 3 years back.
however:
not surprisingly, some condo owners plan on challenging this in the courts once the law takes effect on July 1st, but is anyone actually surprised desantis went there in the first place???
not me.
https://www.msn.com/en-us/money/rea...cc15f744cdb455e8b65881a404ad70f&ei=80#image=2
however:
Initially aimed at ensuring condominium safety through mandatory inspections and reserved funds for necessary repairs, the legislation was influenced by lawyers representing mixed-use condo buildings like the Miami Beach hotel and spa Carillon, which faced a $16.3 million judgment last year in favor of the condo association.
The new law benefits Carillon significantly.
Being retroactive, it allows Carillon to drop its court appeal and avoid the payment altogether. For the numerous residents of condo-hotels, where residential units and a hotel share space, the challenges of maintaining sufficient reserves and timely repairs may have worsened.
The clarity and fairness needed by condo dwellers and buyers are missing from the 154-page bill, which emerged after a late amendment during the 2024 legislative session.
The law potentially allows hotel developers in mixed-use buildings to exempt themselves from the state's new structural integrity reserve study, mandated every 10 years, transferring the costs of common area repairs to condo owners.
not surprisingly, some condo owners plan on challenging this in the courts once the law takes effect on July 1st, but is anyone actually surprised desantis went there in the first place???
not me.
https://www.msn.com/en-us/money/rea...cc15f744cdb455e8b65881a404ad70f&ei=80#image=2