We are living in some incredible times right now in the world of condominiums.  Many years from now, we will look back at the last few years as the years that changed the Florida condominium law landscape forever.  We will always give credit to the unfortunate 98 victims of The Champlain Towers tragedy in Surfside as being the catalyst for all of the new condominium laws and will always be able to tell all of their family members that their loved ones did not die in vain.  Their deaths caused condominiums to undergo mandatory inspections, mandatory repairs and the placement of mandatory reserves into their budgets.  It’s horrible to think that The Florida Legislature did not heed prior calls for these legislative changes, but that is all too often the case.  It takes a tragedy to get things done.  It takes a tragedy to change the laws.

While those of you who live in condominiums that were not well maintained and did not put away money in reserves may find it hard to believe, but the 98 victims of The Champlain Towers made Florida condominiums a better place to live.  They have made them safer and more financially secure.  Sure, there is going to be a lengthy period of adjustment, but it is not actually an adjustment, it is a correction.  This needed to be done a long time ago.

There are those of you who are still betting that The Florida Legislature is going to reverse its course and do away with all that it has done in the last three years.  They somehow think  The Florida Legislature is now going to forget about inspections, repairs and reserves.  You might as well bet that The Dolphins are going to win The Stanley Cup and The Panthers are going to win The Super Bowl.  Legislative leaders have made it very clear that they won’t even entertain hearings to discuss any of this.

It’s amazing that I constantly speak with associations that are in complete denial.  They believe that because many owners will no longer be able to afford to live in their homes, The Florida Legislature will reverse course because the legislators will feel sorry for them.  How can I say this politely?  Wake up!  Get your head out of your ________ and quickly understand the financial situation you are now in.  For most of you that have waived reserves for decade after decade, as I said on 60 Minutes, the bill has now come due!  Your building needs to be inspected by an architect or engineer!  Your building needs major repairs! Your building needs to put away money for future repairs!  It’s going to get expensive starting now! 

Do you want to stay in your home?  Well……….your association will be forced to pass a huge special assessment.  If you can afford it or you can borrow money, you can stay.  If you can’t do either, you need to sell.  Now!  If you can with all of the inventory on the market.  If you don’t like my attitude…..tough.  I am telling you what you need to hear.  Do not wait until you can’t afford to pay the special assessment.  Then it’s too late.  The association must and will commence foreclosure proceedings against you.  Please heed my words now and get on top of this!  This really is your last warning.