16 Jun New reporting requirement for Florida condominium associations
By Anita Byer, Setnor Byer Insurance & Risk
Did you know that a new reporting requirement for Florida condominium associations recently became law? It was enacted during a special legislative session in response to last year’s Champlain Towers collapse in Surfside, Florida. As a result, condominiums are now required to provide specific information about the buildings located on association property to the Division of Florida Condominiums, Timeshares and Mobile Homes. This must be done on or before January 1, 2023.
This information reporting requirement dovetails with Florida’s new mandatory structural inspection requirement for condominium buildings that are three or more stories high. According to the Florida Legislature, the imposition of a statewide structural inspection program for aging condominium buildings is necessary to ensure they remain safe for continued use. To further this goal, condominium associations must provide the following information to the Division.
- The number of buildings on the condominium property that are three stories or higher in height.
- The total number of units in all such buildings.
- The addresses of all such buildings.
- The counties in which all such buildings are located.
In addition to providing this information to the Division on or before January 1, 2023, condominium associations must also notify the Division of any changes within six months. This information, which must be provided in the form and manner set forth by the Division, will be used to create a list of condominium associations with buildings that are three stories or higher in height. The resulting list must be searchable by county and posted on the Division’s website.
Since this is a new requirement, condominium associations may want to consult with a licensed professional prior to the reporting deadline. Board members should also review their association’s Directors and Officers (D&O) insurance policy to confirm sufficient coverage. Mistakes are more likely to happen whenever you are doing something for the first time.
Setnor Byer Insurance & Risk can help condominium associations and board members identify, manage and insure their unique risks. Please contact our team to discuss the various risk management services we provide our condominium association clients, including our Division-Approved New Board Member Education.