TAMARAC – Florida's
vast condo communities are preparing for big changes after
the legislature approved a safety bill during the recent
special session.
To prevent another
Surfside tragedy that claimed 98 lives a year ago, lawmakers
approved a bill that requires all buildings at least
three-stories high to be Recertified after 30 years – 25
years if within three miles of the coast – set aside
reserves for repairs and require inspection reports to be
given to condo owners.
Gryte Kuncaitis has lived at Lime Bay in Tamarac for 10
years. She is treasurer of the condo board and concerned
about the financial impact of the new law.
Lime bay is nearly 50 years old and was just recertified.
Recently, the condo's insurance policy
became null when the company became insolvent. They had to
find new insurance and each resident has been assessed $229
more a month. |
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Because boards will have to build up
reserves to handle repairs, it means residents will face
assessments.
"The law was you had a choice to vote for reserves and we
always voted it down," she said.
But under the new law, condo boards won't have that option.
She fears the many residents on a fixed income won't be able
to bear the added costs.
"We have residents on social security getting only 900 to
$1000 a month."
And they aren't alone.
Insurance agent Steve Brooks helps insure dozens of condos
in South Florida. He says many are in the same boat.
"Many don't have reserves because it would mean increased
fees for unit owners" he said.
Condos have a couple of years to prepare. The new law takes
effect 2025.