Florida Condominium Safety Laws — Post-Surfside

Exam: Real Estate Salesperson — Florida Chapter: Ch8 — Florida Practice and Property Law Enacted: 2022 | Implemented: 2023–2025 (phased)

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Background

In June 2021, the Champlain Towers South in Surfside, Florida collapsed, killing 98 people. In response, the Florida Legislature enacted significant condominium safety laws requiring structural inspections, reserve funding, and enhanced buyer disclosures. These laws are now embedded in Florida real estate practice and are testable on the FL licensing exam.

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Structural Integrity Reserve Study (SIRS)

Who must comply: Condominium associations with buildings 3 stories or more

What is required:

• Complete a Structural Integrity Reserve Study (SIRS) conducted by licensed engineers or architects
• The SIRS evaluates the structural components of the building and estimates the cost of future repairs/replacements
• Compliance deadline: December 31, 2025

Reserve funding requirement:

• Buildings 3+ stories must fully fund reserves for structural components identified in the SIRS
• The prior practice of waiving reserves by member vote is no longer permitted for buildings 3+ stories
• Adequate reserves must be maintained regardless of membership vote

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Milestone Inspections

Phase 1 Inspection — required when a building reaches:

• 30 years of age (or 25 years if within 3 miles of the coastline)
• A licensed engineer or architect performs a visual examination of structural components
• Buildings that already reached the applicable age threshold by the law's enactment had a compliance deadline of December 31, 2024

Phase 2 Inspection — required if:

• Phase 1 reveals concerns about the structural integrity of the building
• Phase 2 involves more detailed inspection, which may include destructive testing

| Inspection | Trigger | Deadline (if already overdue) | |---|---|---| | Phase 1 | 30 years old (25 if coastal) | December 31, 2024 | | Phase 2 | Phase 1 reveals structural concerns | Upon Phase 1 determination |

> Exam Tip: The Phase 1 deadline of December 31, 2024 applied to buildings that had already reached the 30-year (or 25-year coastal) threshold. New buildings trigger the inspection when they reach that age going forward.

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Buyer Disclosure Requirements

Condo sellers must now provide buyers with:

| Document | Requirement | |---|---| | 12 months of board meeting minutes | Full prior year of meeting records | | Current budget | The association's current operating budget | | Most recent financial statement | Typically the most recent annual financial statement | | SIRS (if applicable) | Structural Integrity Reserve Study, if the building is required to have one |

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Rescission Period — Extended from 3 to 7 Days

OLD RULE: Buyers had 3 days to rescind a condo resale contract after receiving the required documents.

CURRENT RULE: Buyers now have 7 days to rescind without penalty after receiving the required condo documents.

• The 7-day period begins when the buyer receives all required documents
• Rescission during this period is penalty-free — the buyer gets their deposit back
• This change reflects the increased volume of required disclosure documents that buyers must review

> Exam Tip: The rescission period change (3 → 7 days) is a high-frequency exam fact. Know the current number: 7 days.

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Exam Tips

• Know the SIRS requirement: 3+ story buildings, compliance deadline December 31, 2025
• Know that reserves cannot be waived by vote for buildings 3+ stories (this was a common practice before the law changed)
• Know the rescission period: 7 days (not 3)
• Know the four required buyer documents: minutes, budget, financial statement, SIRS
• Milestone inspections: Phase 1 at 30 years (25 if coastal); Phase 2 if concerns found

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Tags: #RealEstate #Florida #Ch8 #CondoSafety #SIRS #MilestoneInspection #Surfside #Rescission #CondoDisclosure #ReserveStudy #BuyerRights