Florida condo owners must pay up under stricter safety regulations
John Cadden spoke with WPBF News about the new safety law requiring Florida condo owners to fund reserves for potential repairs, enacted after the Surfside collapse.
As the option to waive reserve contributions ends this year, Cadden emphasized the financial demands, saying, “People are going to have to pay up. Get a loan from a bank if your community is in pretty good standing to fund part of the reserves and help you through it.” He also highlighted the importance of involvement: “Look at the alternatives of what your property is really worth… and what’s a good way for the community as a whole to potentially benefit from a sale of the property to a single buyer.”
The new law aims to prevent future tragedies by ensuring all condominiums are adequately funded and maintained.
Ready to determine the best course of action for your property?
Contact us today!
Back to news and insights Share
