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South Florida’s New Condo Laws Leave Homeowners Facing Tough Choices

A South Florida condominium with a 'For Sale' sign in front, showing an aged building with visible wear, palm trees, and a sunny sky in the background. Represents new condo laws forcing sales.
An aging South Florida condo with a 'For Sale' sign, highlighting the impact of new state laws on residents.

South Florida is known for its sunny weather, stunning beaches, and relaxed lifestyle, drawing homeowners from all over. But for many condo owners, that dream is turning into a nightmare as new state laws impose steep financial burdens.

Recent legislation requires condominiums to maintain substantial cash reserves for major repairs and undergo inspections for buildings three stories or higher. While these changes aim to enhance safety and prevent disasters, they’re forcing condo owners to make tough decisions—like selling their homes.

Take the residents of Springbrook Gardens in Fort Lauderdale, for example. This quaint, 18-unit building from the 1940s was evacuated last September due to a crumbling foundation. Now, its owners are left with no choice but to sell.

“Nobody Is Happy About It”

Resident and condo owner Warren Sackler summed up the frustration:

“We didn’t have $4.5 million to take care of [the repairs],” he told CBS News Miami. “Nobody is happy about it. Of the 18 people, they all would love to live here, but not with the debt and everything else.”

For the Springbrook Gardens owners, the $4.5 million price tag for repairs was insurmountable. Divided among 18 residents, it would have meant hundreds of thousands of dollars per person—an impossible sum. Instead, they’ve decided to sell the building, hoping the proceeds will allow them to move forward.

But selling doesn’t mean smooth sailing. Although the property is valued at $14 million, the amount may not be enough to ensure all residents can find comparable housing.

A Growing Statewide Crisis

This issue isn’t unique to Springbrook Gardens. Across Florida, stricter laws and rising costs are making condo living unsustainable for many.

Florida realtor Jeff Chenore, who’s been in the business for 30 years, described the growing anxiety among condo owners:

“We’re constantly getting phone calls from owners asking, ‘What should I do? What can I do?’”

The root of the problem stems from legislation passed after the devastating Champlain Towers collapse in 2021, which claimed 98 lives. New rules mandate structural inspections for older buildings and require reserves that can cover costly repairs for critical components like roofs, foundations, plumbing, and electrical systems.

While these measures aim to protect lives, they’ve introduced hefty special assessment fees that many owners simply can’t afford.

Rising Costs Are Adding Fuel to the Fire

Adding to the burden, condo insurance costs have skyrocketed. As of late 2024, the average cost of a commercial condo association policy—covering shared fixtures like roofs and irrigation systems—had more than doubled in two years, according to Insurance NewsNet. These increased premiums are passed directly to owners, further straining their finances.

The financial pressure is driving many condo owners to list their units for sale. Florida Realtors reported a 5.5% year-over-year rise in condo and townhouse listings as of November 2024, with no signs of slowing down.

A Path Forward

For many, the choice is grim: sell and move on, or stay and face mounting debt. Meanwhile, as more units flood the market, selling is becoming increasingly difficult.

These laws are meant to ensure safety, but they’re also creating a housing crisis for Floridians who once saw condo living as an affordable and idyllic option. For now, the sunny promise of South Florida feels overshadowed by clouds of uncertainty.

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