How the new condo law is putting the pressure on
As we covered in a recent newsletter, Florida’s condominium market is scrambling to keep up with the demands of Senate Bill 4-D, which mandates structural integrity inspections for …
A Condo Crisis?
Story Tag: Champlain Towers Condo Collapse
Angst in Florida’s Condominium Community
Big assessments are leading to sell-offs
Almost three years after the Surfside Condo Collapse, reverberations can still be felt, now from condominium unit owners across Florida facing huge maintenance and insurance assessments from their condo associations. Following the Surfside tragedy…
Surfside Support Columns Not What They Should Have Been
Preliminary report finds weaknesses
Federal investigators may have found the root of the tragic Surfside Condo Collapse that shook the Miami community three years ago: faulty support columns in the garage that ran underneath the complex and the adjoining pool …
Remembering
Two years ago, 98 people were killed when their 12-story condo building collapsed in the middle of the night. The 40-year old Champlain Towers South condo in Surfside, Florida had unaddressed structural problems often called “deferred maintenance.” There are federal …
New Questions on High-Rise Re-Inspections
Plus, disaster housing
Much of the immediate need in disaster recovery is in providing human services, especially housing. That was a focus this past week in a legislative committee examining hurricane response and resilience, following Hurricanes Ian and Nicole. Plus, …
Evacuated Condo Residents Return
Alarming cracks shored-up
Residents of a 14-story oceanfront condominium building in Miami Beach were allowed to return to their condos last week after a two-week mandatory evacuation prompted by the discovery of substantial damage to beams believed to be supporting …
Lack of Capacity Hits Florida’s Condo Market
Insurance companies retrenching
The Florida Legislature in its regular session earlier this year also failed to reach agreement on high-rise building re-inspections and condominium association reform following last year’s collapse of the Champlain Towers South condo in Surfside that killed …
Condominium Safety Reforms
Miami-Dade County now leading
The Florida Legislature has been criticized not just for failing to pass additional needed insurance consumer protection reforms in its regular session, but also high-rise building inspection reforms, too. Several bills were filed last session in …
No Ambiguity in these Policies
Plus, a Surfside condo settlement
Florida’s appellate courts have again sided with insurance companies on whether claim settlement proposals need to include specific offers of attorney fees; and on another question of ambiguity about whether the appraisal process applies to …
Tougher Loan Standards on Condos
Spurred by Surfside condo collapse
One of the impacts of last June’s collapse of the Champlain Towers South condominium is increased scrutiny by the nation’s two big real estate mortgage backers: Fannie Mae and Freddie Mac. Both have come out …
