- October 10, 2022
- Posted by: CCM
- Category: Uncategorized
In response to last year’s horrific Surfside condo building collapse, the Florida Senate recently passed Bill 4D to protect condo residents and ensure the structural integrity of their homes. The bill requires mandatory milestone structural inspections and structural integrity reserve studies.
Milestone Structural Inspections
All inland condo buildings that are three or more stories tall must complete an inspection when the building turns 30 and every 10 years thereafter. However, if a building is within 10 miles of the coast, the initial inspection must be completed when the building turns 25, followed by every 10 years thereafter. The inspection must be performed by a licensed architect or engineer and include a review of all essential structural components. If the inspection finds deficiencies in the building, a secondary, more thorough inspection is required to confirm that the building is structurally sound. This second inspection report must also contain a plan to repair the damaged portions of the structure.
Structural Integrity Reserve Studies
This study analyzes a condo association’s reserve funds to ensure that they can cover future repairs. Similar to the milestone structural inspection, a licensed architect or engineer performs this study. The inspector performs a visual analysis of the common areas, including building’s roof, load bearing walls, floor, foundation, fire protection systems, plumbing, electrical systems, waterproofing, exterior painting, and other items that have an estimated replacement cost of at least $10,000. Based on the findings, they determine when the expected end of life of each area will occur and the associated replacement cost or deferred maintenance expense. Then, the inspector recommends an annual reserve amount to reach the total replacement cost / deferred maintenance expense by the anticipated end of life. The association must fully fund the reserve. The initial study must be completed no later than December 31, 2024 and then repeated every 10 years.
In addition to these provisions, the new bill also requires condo associations to submit the following information to the Division of Condominiums, Timeshares and Mobile Homes no later than January 1, 2023: the number of buildings on the property that are three stories or more, the total number of units in the development, the address of all buildings, and the county where the buildings are located.
The condo association is responsible for funding both the inspection and the reserve study. If the association neglects to perform the inspection, the reserve study, or properly fund the reserve, this is a breach of the board of directors’ fiduciary duties to its association members.
This new bill will help to ensure that Florida’s condo association buildings are structurally sound. CCM’s property managers will be working closely with our clients to ensure that the buildings we manage are compliant with the new law. If you are not currently a client, but would like to learn more about how CCM can help your association manage your property, contact us today at 954-787-5515.
Consolidated Community Management (CCM) is a full-service property management company specializing in condominium and homeowner association management in Broward and southern Palm Beach Counties. We are committed to working together with community Boards of Directors to develop management plans tailored to the unique requirements of each community and their residents.
CCM provides a quality of service that is unique to our industry and consistently delivers a distinct competitive advantage. Our concentrated, extensive local presence and knowledge of community associations results in lasting partnerships and superior service. We have built our industry reputation on employing the best in the business and assigning only a limited number of properties to each Property Manager Team.
Our team at Consolidated Community Management provides expert property management services at competitive prices. Contact us today by calling (954) 718-9903 or clicking on ccmfla.com.