A Buyers Guide To Understanding Florida’s 2025 Condo Association Financial Cliff

Given that we are about six months out from the Condo Association Financial Cliff, we plan to spend the next month doing a deep dive into the South Florida condo statistics, laws and outlook for a new Buyers Guide book.

It has been three years since the Champlain Towers South condo collapsed in South Florida on June 24th, 2021.

A lot has changed since the Surfside disaster where nearly 100 people died and a $1 billion settlement was reached with the families of the victims.

Since the 2021 collapse, older units are said to be tougher to sell, insurance prices are spiking year-over-year and association maintenance fees and special assessments are squeezing owners to the brink.

As part of the changes, condo boards are preparing for a recently passed Florida law that goes into effect in January that requires condo associations to hire experts to conduct structural integrity studies of their respective buildings and then begin funding the necessary work in or before 2025.

People are dubbing this moment as the 2025 Condo Association Financial Cliff.

Some industry watchers have compared it to an inflection point on par with the Category 5 Hurricane Andrew that devastated South Miami-Dade County in August 1992.

Given that we are about six months out from the Condo Association Financial Cliff, we at the Condo Ratings Agency™ plan to spend the next five weeks doing a deep dive into the South Florida stats, state laws and outlook for condo towers in Miami-Dade, Broward and Palm Beach counties.

All of our reports and more will be combined together for a new book to be called “A Buyers Guide To Understanding Florida’s 2025 Condo Association Financial Cliff.” It will be published by the Condo Ratings Agency™.

We crunch a lot of statistics each week and then publish the results byway of a series of reports posted on CondoVultures.com.

If you want the reports emailed to you, just sign up for the Miami Condo Market Intelligence Report With Peter Zalewski™ newsletter at: PeterZalewski.substack.com

If you are interested in participating in a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida, we encourage you to join the Miami Condo Market Investing Club™.

The objective of the Club is to create a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida.

The Club is also ideally situated for Do-It-Yourself (DIY) condo buyers who can rely on our latest statistics, expert opinions and access to consulting services.

Additionally, we encourage you to listen or view our podcast wherever you get podcasts. Additionally, the podcast is available on Apple, Spotify and/or YouTube.

This information is believed to be accurate and complete but cannot be guaranteed or warranted. For more information, please call 305.865.5859 or visit CondoVulturesRealty.com

– Peter Zalewski

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