By this time everyone knows about the tragic collapse of the Surfside Tower. In response to that collapse the state of Florida has several new laws meant to avoid this from happening in the future. How will these new laws affect real estate?
First is the new inspection requirements for any building which is 3 stories, or taller. The first deadline for these is coming up on 1 Jan 2023. By this date all condominium, co-op and apartment buildings are now required to file identifying information with the state’s Division of Florida Condominium, Timeshares and Mobile Homes.
After the state has all these buildings registered then we move to the next timeline.
- The law requires that a condominium or cooperative must have a “milestone inspection” performed for each building that is 3 stories or more by December 31st of the year in which the building reaches 30 years of age, and again every 10 years thereafter.
- If the building is located within 3 miles of a coastline, the inspection must be performed by December 31 of the year in which the building reaches 25 years of age, and every 10 years thereafter.
- If a building
