The House approved a bill Wednesday that would give condo associations some financial relief. House Bill 913 would allow them to use lines of credit for essential repairs, instead of passing them on to residents.
Michael Swenson lives in a Cape Coral condo right off of Santa Barbara Boulevard and Cape Coral Parkway.
"Our condo is primarily retired folks and most of them can withstand several thousand dollars shock, whereas if it's a bunch of younger couples or single people that are starting out, having a line of credit, it might be an easier way to do things and ensure that things could get taken care of in a timely fashion."
After the 2021 Surfside condo collapse, killing 98 people, the state passed condo-safety laws the following year.
"At this particular unit was the fasteners for the roof rafters and needed to be upgraded, so that they would withstand the winds better," he said.
The laws require inspections and structural studies to determine how much money should be set aside for future repairs by an HOA. Inspections were supposed to be complete by Dec. 31.
But as a result, many condo associations hit owners with large assessments to make the deadline. Now, a bill passed by the House Wednesday would give HOAs a line of credit for those repairs instead of hitting you with those fees.
Diane Rodgers said her friend, who lives in the condo next to her, has felt the financial burden.
"She's looking to sell it and go back to her house because the price of the fees, the monthly fees, are so high and that you have no control over that," Rodgers said.
The bill would not allow companies that do structural reserve studies to do repairs. The studies include low-cost repairs like windows and doors. This would allow for flexibility on those.
"They have no control," Rodgers said. "It keeps going up and up and up."
The bill also clarifies confusion. Only buildings three stories high or higher require inspections.
It would also allow condo owners to vote online in condo association elections. That's if at least 25% of owners ask for it. Right now, they have to vote in person, but many condo owners don't live in their units to cast those votes.
"You got to make sure you got a quorum and make sure that people understand what the issues are," Swenson said.
Negotiations with the Senate are expected next week, as the legislative session ends. Count on Gulf Coast to let you know if this bill becomes a law.
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