MIAMI — Could this be a possible solution to Florida's condo crisis?
WPTV is taking a look at a bill passed by lawmakers that's now awaiting the governor's signature, and how much help it gives to those who live in condominiums.
In Miami on Wednesday, Gov. Ron DeSantis said HB 913, a condo bill headed to his desk, is a good thing.
"I think it ended up in a good spot," DeSantis said.
He's referring to easing the assessment shock leveled on condo owners across Florida after new regulations were implemented following the Surfside tragedy in Miami-Dade County. For months, WPTV has covered the huge financial burden on condo owners.
"We can sit there and talk about these condo boards, and should some of them have been doing more upkeep, yes, 100%," DeSantis said.
The bill passed by Florida lawmakers offers some relief, giving condo associations another year to do structural inspections and allows them to tap into lines of credit or loans for their reserves and also exempts smaller buildings.
"I think that recognizes the crushing impact that some of these assessments are having, and I think it provides a way to be able to keep people in their homes," DeSantis said. "All in all, I think it was well done. If there needs to be done, then I'll be supportive of doing it," DeSantis said.
The post-Surfside regulations were hitting condo owners on fixed incomes especially hard with assessments in the tens of thousands of dollars.
Many people ended up selling their property and moving due to the increased costs.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
