New Florida Condo Bill in 2025: What It Means for Homeowners & Buyers

The new Florida condo bill brings significant changes that directly impact homeowners and buyers across the state. With a focus on structural safety, financial preparedness, and enhanced transparency, these legislative updates aim to ensure the long-term stability and security of condominium living. If you own or are considering purchasing a condo in Florida, understanding these changes is key to making informed decisions in the current real estate landscape.

What’s Inside the New 2025 Florida Condo Legislation

In 2025, Florida enacted House Bill 913 and Senate Bill 1742 to address ongoing concerns in the condominium sector. While the tragic Surfside condominium collapse in 2021 highlighted the need for reform, these bills aim to tackle broader issues such as aging infrastructure, financial mismanagement, and lack of transparency in condo associations.

The primary goals of the new legislation are to enhance building safety through regular inspections, ensure financial responsibility by mandating reserve funds, and increase accountability within condo associations. These measures are designed to protect residents and maintain the integrity of Florida's condominium communities. Below are the key components of the legislation:

Mandatory 10-Year Structural Inspections (SIRS) for Aging Buildings

Condo associations must conduct a Structural Integrity Reserve Study (SIRS) every 10 years for buildings three stories or higher. These studies assess critical components like roofs, plumbing, and foundations to determine necessary funding for future repairs and maintenance. The findings must be shared with all unit owners, promoting informed decision-making within the community.

Required Board Member Training and Financial Transparency Rules

Board members are now required to complete certified training on fiduciary responsibilities, financial literacy, and legal updates. Associations must provide clear communication to unit owners about major decisions and financial matters, including making financial records like budgets and audits more accessible. This ensures owners stay informed about the association's financial health.

New Reserve Fund Requirements for Critical Repairs

Associations are now required to maintain reserve funds specifically for essential repairs and building maintenance. These reserves must be used exclusively for critical components such as roofing, structural integrity, electrical systems, and plumbing. The law allows for a temporary pause in reserve-fund contributions for up to two years, providing financial flexibility. Additionally, associations can use lines of credit or obtain loans to fund repairs, helping to ease the immediate financial burden on unit owners.

Milestone Inspections (25/30-Year Rule)

Buildings that are 30 years old or 25 years if within three miles of the coastline must undergo an initial milestone inspection by December 31, 2025. Subsequent inspections are required every 10 years. Licensed professionals must conduct these inspections, which include a thorough assessment of the building's structural components. The results help identify necessary repairs and ensure the long-term safety of the building's residents.

What Florida Condo Owners Need to Do Now

If you already own a condo, here’s how the law changes your responsibilities:

Expect Higher HOA Dues: Homeowners must now contribute to reserve funds for essential repairs and maintenance. This can lead to higher monthly HOA fees and potential special assessments, impacting household budgets.
Understand Inspection Timelines: Regular structural inspections are now compulsory, ensuring building safety and introducing additional costs and responsibilities for homeowners.
Stay Informed with Access to Financial Documents: Homeowners can expect more detailed disclosures from condo associations, providing clearer insights into their properties' financial and structural status.
Anticipate How Compliance May Affect Property Value: Compliance with the new regulations may influence property values, with well-maintained and compliant buildings potentially retaining or increasing in value.

What Buyers Should Look for in 2025 and Beyond

Prospective condo buyers need to be more diligent than ever:

Review SIRS and Reserve Documents: Buyers need to thoroughly review inspection reports, reserve studies, and condo associations' financial statements to assess the property's condition and financial health.
Consider Lender Restrictions: Some lenders may be cautious in approving mortgages for condos that do not comply with the new regulations, potentially limiting financing options.
Assess Compliance Status: Non-compliant buildings may come with risks, including costly future repairs and limited financing options.
See Value in Compliant Condos: Buyers may find opportunities in properties that proactively comply with the new laws, as these offer greater long-term stability and value.

How Florida’s Condo Market Is Responding

Since the 2025 condo legislation took effect, Florida’s market has seen a sharp rise in listings—particularly in older buildings facing costly repairs. Inventory statewide grew to a 10-month supply by spring 2025 (up over 50% from a year prior), with Sarasota County alone reaching over 2,700 active condo listings by April, as sales in that area dropped nearly 20% year-over-year. Many of these units are in older structures where owners are looking to offload properties before expensive assessments hit. As a result, median condo prices have declined by roughly 4.5% statewide, with Tampa seeing a 10.9% drop and some Gulf Coast cities reporting declines nearing 20% year-over-year price decreases.

Buyers and investors are more selective than ever. Properties in compliance with the new safety and reserve requirements are in higher demand, while units in non-compliant buildings often sit on the market longer or sell below asking price. Nearly 70% of condos sold in early 2025 closed below the asking price, with final sale prices averaging about 4–5% under list value. Financing has become harder to secure for aging, non-compliant properties, and many investors have pulled back, focusing instead on newer or well-managed buildings. The shift has created a two-tier market—well-funded, compliant condos attract interest, while outdated buildings struggle to compete.

Partner with Florida Realty Marketplace to Make Informed Homeownership Decisions

Navigating Florida's new condo laws requires expert guidance. Whether you're assessing your current property's compliance or exploring new investment opportunities, Florida Realty Marketplace is here to assist.

Our experienced agents specialize in Central Florida real estate, offering personalized advice tailored to your unique situation. From understanding the latest regulations to evaluating property values, we're committed to helping you make confident decisions.

Considering selling your condo or exploring new opportunities? See What Your Home Is Worth to gain valuable insights into your property's current market value. Connect with our real estate professionals today!

Posted by Florida Realty Marketplace on July 28th, 2025