Florida's condominium owners are set to receive relief from rising HOA fees as Governor Ron DeSantis prepares to sign HB 913 into law. This legislation, in response to safety concerns following the 2021 Surfside collapse, will enable condo associations to establish credit lines and loans for necessary repairs, rather than burdening owners with immediate costs. State Sen. Jennifer Bradley emphasized the need for a balance between safety and financial stability for condo owners. The bill, unanimously passed by the Florida Legislature, goes into effect on July 1, aiming to address escalating financial burdens on condo residents.
"This bill comes from a lot of listening to owners talk about how they know their building needs to be safe but pleading that the process be fair and workable," state Sen. Jennifer Bradley (R-Fleming Island), who led the effort to address condo owners' concerns, said during the bill debate.
"You had people that were going to be forced out of their condos potentially because of legislation that had come down the pipe," DeSantis said during a May 20 appearance in Tampa.
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