Florida has more condominium units and condo associations than any other state (1,516,375 and 23,149 respectively, according to Tony D’Souza in Sarasota Magazine.) Under Florida law, condo boards have the obligation to address safety problems. Understanding these three issues should be at the top of every association’s agenda.
Structural Engineering. A thorough and professional structural and mechanical analysis done by an experienced engineer should ideally be conducted starting when the developer turns the property over to the condo association. This not only provides a basis for planning, it may also inform resolution of issues during the condo’s statutory warranty period.
Coastal Challenges. With the appeal and the beauty of coastal living comes seawater intrusion, sea-level rise and hurricanes, paired with the daily impact of salt water and sea air. These accelerated environmental conditions make preventative and regular general maintenance critical priorities, and they are also leading to calls for more frequent inspections of coastal condos.
Reserve Planning. While most buildings may not be at risk of literal collapse, many associations are currently on less than solid financial ground. In a report issued last year, the Community Associations Institute (CAI), an umbrella organization for resident-owned buildings and developments, found that, nationwide, 80 percent of associations faced unplanned repairs during the preceding three-year period.
A detailed analysis known as a reserve study can help boards decide how much money to set aside each year in order to fund major repair and replacement as well as annual expenditures. Most reports will project for 30 years and summarize payment options.
Florida does not currently require a reserve study, but it does mandate a schedule for repair and replacement of major components. The Foundation for Community Association Research has a Best Practices Report on reserve studies and reserves management, updated in 2020.
However, the best plan is of no use without action. If an association maintains an adequate reserve fund, they won’t have to levy large fees on unit owners to make repairs, increasing the likelihood that those repairs will take place in time to mitigate significant damage and ensure the building’s safety and integrity.
According to Compass Group. Vice President of Operations Brian Flick, “we may not yet have the full picture of all the factors that contributed to this tragedy, but you can be sure we will be seeing legislative and other changes that will impact associations.”