Florida House Bill 913, was signed into law by Governor Ron DeSantis, addressing and making changes to condominium and co – operative association governance, safety, transparency and financial accountability. The bill eases financial burdens on condo owners and makes overdue changes to association operations.
Once signed, it is scheduled to take effect on July 1, 2025.
Some major Key provisions and changes are as follows:
Milestone Inspections:
1) Applies to buildings with three or more habitable stories ( living, sleeping, eating or cooking areas; excludes garages, closets and hallways), clarifying the previous confusion of applying to buildings that are three stories or higher
2) Reporting Deadline – Local agencies must report inspection data to the state by October 1, 2025
3) Funding Options – Associations may use special assessments, loans or credit lines with owner approval
Structural Integrity Reserve Studies ( SIRS ):
1) Limited to buildings with three or more habitable stories
2) Deadline Extended: Completion deadline moved to December 31, 2025
3) Funding Must Be Reflected: The SIRS must identify the chosen funding source ( eg., loan )
4) Update Required: Must update SIRS before adopting any new budget if funding changes.
5) Exemptions: 4 – family buildings with three stories or fewer are exempt
Reserve Funding and Thresholds:
1) Threshold Raised – Reserve item threshold increased from $10,000 to $25,000
2) Temporary Suspension: Contributions for milestone related repairs may be paused for up to two budgets ( until Dec. 31, 2028 ) if approved by owners.
Financial Reporting Requirements
1) Extended Deadline: Annual financial statements due 180 days after fiscal year – end ( formerly 120 days )
2) Electronic Notice – Associations may notify members electronically when reports are available
Presale Disclosures:
1) Required Documents: Sellers must provide the most recent annual budget and financial statements.
2) Disclosure Required: Contracts must disclose the status of inspections and reserves
Community Association Managers ( CAM )
1) License Restrictions – Individuals with a revoked CAM license are prohibited from working with or owning a management form for 10 years
2) Online DBPR Account – All licensed CAMs must maintain an online account with the Department of Business and Professional Regulation
3) No waivers – Contracts cannot waive professional standards required under section 468.432.
4) Meeting Attendance – CAM must attend at least one board or membership meeting in person each year.
